Posted on
Flett Exchange operates a market for Maryland Geothermal RECs, or commonly called GRECs. Owners of certified geothermal facilities in Maryland – homes, businesses, schools, hospitals – sell their GRECs on Flett Exchange. Energy companies purchase GRECs on Flett Exchange to comply with Maryland’s Renewable Energy Portfolio. If energy companies do not purchase enough GRECs they have to submit a compliance payment to the state of Maryland. That compliance payment is $100 until 2025 and is reduced after that. See the compliance schedule decrease under “specifications”.
Owners of geothermal facilities can register and sell their GRECs directly on Flett Exchange. Flett Exchange also offers full-service GREC management. For full-service managed clients Flett Exchange will register your system with the state of Maryland, register with the database that creates GRECS, and sell your GRECs along with all of our other GREC clients. Sellers benefit from the increased prices due to the large volume Flett Exchange transacts.
The following are some of the main aspects of the MD GREC Market:
Installation date: January 2023 cut-off. Prior to January 2023 MD geothermal facilities produced Class 1 RECs. January 2023 or later installations produce GRECs.
MD Class 1 REC price cap: $30
MD GREC price cap: $100 -moving down to $65. See the schedule.
Residential and non-residential geothermal facilities in Maryland qualify for GRECs differently.
Residential:
installed in a residential home that is not owned by a business. The system must meet ENERGY STAR standards and not feed electricity back into the grid.
Non-residential:
At a commercial building; or
At multi-family housing units that qualified as low- or moderate-income housing on the date the system was installed on the property; or
At institutions that primarily serve low- or moderate-income individuals and families, including i) schools with a majority of students who are eligible for free and reduced prices meals; ii) hospitals with a majority of patients eligible for financial assistance or who are enrolled in Medicaid; and iii) other facilities that serve individuals and families where a majority of those is enrolled in Federal or State Safety Net Programs.
A system with a 360,000 BTU capacity is eligible for geothermal renewable energy credits only if the Company installing the system provides for its employees:
Family-sustaining wages;
Employer-provided health care with affordable deductibles and co-pays;
Career advancement training;
Fair scheduling;
Employer-paid workers’ compensation and unemployment insurance;
A retirement plan;
Paid time off; and
The right to bargain collectively for wages and benefits
Low income carve-out. Energy companies must procure 20% of the GREC obligation from low-income geothermal facilities. Low or Moderate Income (LMI) for GREC purposes is a household with an aggregate annual income that is below 120% of the area median income. The ability to qualify for the low-income tag on the GRECs may help in the future if the GREC market gets oversupplied because these may retain value longer.
New Geothermal facilities must register with the Maryland Public Service Commission and GATS. Flett Exchange will register for full-service GREC clients.
Register for either a do-it-yourself or a managed GREC account on Flett Exchange to take the first step to receive payments for your GRECs.
Posted on
The Maryland legislature passed legislation that will raise the fine (Solar Alternative Compliance Payment) for power companies if they do not procure enough MD SRECs from solar owners. The current legislation sets a fine of $80 per SREC for 2021 and lowers each year to $20.35 by 2030. The bill raises that fine $15 to $20 each year. As of publication we are awaiting the Governor to sign it into law. The proposed fines are shown below.
The same bill also decreases the amount of solar that the energy companies have to procure. Taking into account the amount of solar installed in Maryland and the growth rate this should not have an effect on solar owner’s prices of their SRECs. The only way it will is if an unexpected amount of solar is installed in the next few years.
This is welcome news for solar owners in Maryland along with homeowners and businesses planning on installing a new solar array. The current SREC price caps were inhibiting solar development. We expect the rate of solar installations to increase in Maryland if this bill is passed.
Click here to view the full Amendments.
|
Energy Year |
SACP |
Proposed SACP |
RPS % Solar |
Proposed RPS % Solar |
|
2019 |
$100 |
$100 |
5.5% |
5.5% |
|
2020 |
$100 |
$100 |
6.0% |
6.0% |
|
2021 |
$80 |
$80 |
7.5% |
7.5% |
|
2022 |
$60 |
$60 |
8.5% |
5.5% |
|
2023 |
$45 |
$60 |
9.5% |
6.0% |
|
2024 |
$40 |
$60 |
10.5% |
6.5% |
|
2025 |
$35 |
$55 |
11.5% |
7.0% |
|
2026 |
$30 |
$45 |
12.5% |
8.0% |
|
2027 |
$25 |
$35 |
13.5% |
9.5% |
|
2028 |
$25 |
$32.50 |
14.5% |
11.0% |
|
2029 |
$22.50 |
$25 |
14.5% |
12.5% |
|
2030 |
$20.35 |
$22.50 |
11.5% |
14.5% |
The following is the text for the Amendments to Maryland Senate bill 65 2021-2022 legislative session:
SB0065/773192/1
BY: Economic Matters Committee
AMENDMENTS TO SENATE BILL 65
(Third Reading File Bill)
AMENDMENT NO. 1
On page 1, in line 2, strike “Qualifying” and substitute “Tier 2 Renewable
Sources, Qualifying”; in the same line, after “Biomass” insert “, and Compliance Fees”; in line 3, after the first “of” insert “altering the renewable energy portfolio standard for certain years; extending the eligibility of certain Tier 2 renewable sources for purposes of the renewable energy portfolio standard in certain years; altering the compliance fee for a shortfall from the required percentage of energy from certain Tier 1 renewable sources for the renewable energy portfolio standard in certain years;”; in line 7, after “Act;” insert “providing for the effective dates of this Act; making a conforming change;”; in line 11, strike “and” and substitute a comma; in the same line, after “(s)” insert “, and (t)”; in line 16, strike “and” and substitute “, 7–703(b)(16) through
(25),”; and in the same line, after “7–704(a)” insert “, and 7–705(b)(2)”.
AMENDMENT NO. 2
On page 1, after line 20, insert:
“Article – Public Utilities
7–701.
(a) In this subtitle the following words have the meanings indicated.
(t) “Tier 2 renewable source” means hydroelectric power other than pump storage generation.
7–703.
(b) Except as provided in subsection (e) of this section, the renewable energy portfolio standard shall be as follows:
(16) in 2021[,]:
(I) 30.8% from Tier 1 renewable sources, including:
[(i)] 1. at least 7.5% derived from solar energy; and
[(ii)] 2. an amount set by the Commission under § 7–704.2(a) of this subtitle derived from offshore wind energy; AND
(II) 2.5% FROM TIER 2 RENEWABLE SOURCES;
(17) in 2022[, 33.1%]:
(I) 30.1% from Tier 1 renewable sources, including:
[(i)] 1. at least [8.5%] 5.5% derived from solar energy; and
[(ii)] 2. an amount set by the Commission under § 7–704.2(a)
of this subtitle derived from offshore wind energy; AND
(II) 2.5% FROM TIER 2 RENEWABLE SOURCES;
(18) in 2023[, 35.4%]:
(I) 31.9% from Tier 1 renewable sources, including:
[(i)] 1. at least [9.5%] 6% derived from solar energy; and
[(ii)] 2. an amount set by the Commission under § 7–704.2(a)
of this subtitle derived from offshore wind energy; AND
(II) 2.5% FROM TIER 2 RENEWABLE SOURCES;
(19) in 2024[, 37.7%]:
(I) 33.7% from Tier 1 renewable sources, including:
[(i)] 1. at least [10.5%] 6.5% derived from solar energy; and
[(ii)] 2. an amount set by the Commission under § 7–704.2(a)
of this subtitle derived from offshore wind energy; AND
(II) 2.5% FROM TIER 2 RENEWABLE SOURCES;
(20) in 2025[, 40%]:
(I) 35.5% from Tier 1 renewable sources, including:
[(i)] 1. at least [11.5%] 7% derived from solar energy; and
[(ii)] 2. an amount set by the Commission under § 7–704.2(a)
of this subtitle, not to exceed 10%, derived from offshore wind energy; AND
(II) 2.5% FROM TIER 2 RENEWABLE SOURCES;
(21) in 2026[, 42.5%]:
(I) 38% from Tier 1 renewable sources, including:
[(i)] 1. at least [12.5%] 8% derived from solar energy; and
[(ii)] 2. an amount set by the Commission under § 7–704.2(a)
of this subtitle derived from offshore wind energy, including at least 400 megawatts of Round 2 offshore wind projects; AND
(II) 2.5% FROM TIER 2 RENEWABLE SOURCES;
(22) in 2027[, 45.5%]:
(I) 41.5% from Tier 1 renewable sources, including:
[(i)] 1. at least [13.5%] 9.5% derived from solar energy; and
[(ii)] 2. an amount set by the Commission under § 7–704.2(a) of this subtitle derived from offshore wind energy, including at least 400 megawatts of Round 2 offshore wind projects; AND
(II) 2.5% FROM TIER 2 RENEWABLE SOURCES;
(23) in 2028[, 47.5%]:
(I) 43% from Tier 1 renewable sources, including:
[(i)] 1. at least [14.5%] 11% derived from solar energy; and
[(ii)] 2. an amount set by the Commission under § 7–704.2(a)
of this subtitle derived from offshore wind energy, including at least 800 megawatts of Round 2 offshore wind projects; AND
(II) 2.5% FROM TIER 2 RENEWABLE SOURCES;
(24) in 2029[, 49.5%]:
(I) 47.5% from Tier 1 renewable sources, including:
[(i)] 1. at least [14.5%] 12.5% derived from solar energy; and
[(ii)] 2. an amount set by the Commission under § 7–704.2(a) of this subtitle derived from offshore wind energy, including at least 800 megawatts of Round 2 offshore wind projects; and
(II) 2.5% FROM TIER 2 RENEWABLE SOURCES; AND
(25) in 2030 and later[,]:
(I) 50% from Tier 1 renewable sources, including:
[(i)] 1. at least 14.5% derived from solar energy; and
[(ii)] 2. an amount set by the Commission under § 7–704.2(a)
of this subtitle derived from offshore wind energy, including at least 1,200 megawatts of Round 2 offshore wind projects; AND
(II) 2.5% FROM TIER 2 RENEWABLE SOURCES
7–705.
(b) (2) If an electricity supplier fails to comply with the renewable energy portfolio standard for the applicable year, the electricity supplier shall pay into the Maryland Strategic Energy Investment Fund established under § 9–20B–05 of the State Government Article:
(i) except as provided in item (ii) of this paragraph, a compliance fee of:
1. the following amounts for each kilowatt–hour of shortfall from required Tier 1 renewable sources other than the shortfall from the required Tier 1 renewable sources that is to be derived from solar energy:
A. 4 cents through 2016;
B. 3.75 cents in 2017 and 2018;
C. 3 cents in 2019 through 2023;
D. 2.75 cents in 2024;
E. 2.5 cents in 2025;
F. 2.475 cents in 2026;
G. 2.45 cents in 2027;
H. 2.25 cents in 2028 and 2029; and
I. 2.235 cents in 2030 and later;
2. the following amounts for each kilowatt–hour of shortfall from required Tier 1 renewable sources that is to be derived from solar energy:
A. 45 cents in 2008;
B. 40 cents in 2009 through 2014;
C. 35 cents in 2015 and 2016;
D. 19.5 cents in 2017;
E. 17.5 cents in 2018;
F. 10 cents in 2019;
G. 10 cents in 2020;
H. 8 cents in 2021;
I. 6 cents in 2022;
J. [4.5] 6 cents in 2023;
K. [4] 6 cents in 2024;
L. [3.5] 5.5 cents in 2025;
M. [3] 4.5 cents in 2026;
N. [2.5] 3.5 cents in 2027 [and 2028];
O. [2.25] 3.25 cents in [2029] 2028; [and]
P. [2.235] 2.5 cents in [2030 and later] 2029; and
Q. 2.25 CENTS IN 2030 AND LATER; AND
3. 1.5 cents for each kilowatt–hour of shortfall from required Tier 2 renewable sources; or
(ii) for industrial process load:
1. for each kilowatt–hour of shortfall from required Tier
1 renewable sources, a compliance fee of:
A. 0.8 cents in 2006, 2007, and 2008;
B. 0.5 cents in 2009 and 2010;
C. 0.4 cents in 2011 and 2012;
D. 0.3 cents in 2013 and 2014;
E. 0.25 cents in 2015 and 2016; and
F. except as provided in paragraph (3) of this subsection,
0.2 cents in 2017 and later; and
2. nothing for any shortfall from required Tier 2 renewable sources.
SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland read as follows:”.
On page 4, in line 15, strike “through 2020”; in line 18, strike “2.” and substitute “3.”; in line 20, strike “3.” and substitute “4.”; in the same line, after “That” insert “Section 2 of”; and after line 22, insert:
“SECTION 5. AND BE IT FURTHER ENACTED, That, except as provided in
Section 4 of this Act, this Act shall take effect June 1, 2020.”.
DISCLAIMER: Maryland SREC prices are volatile. Buyers and sellers of SRECs must do their own research. The above projections are subject to change as market dynamics change.
Posted on
May 29, 2019
New Law
This past weekend Maryland Governor Larry Hogan did not veto the Clean Energy Jobs Act which is now law. It requires at least 50% of the electricity in Maryland be derived from Tier 1 renewable sources which are at least 14.5% in-state solar by year 2030. It provides an immediate stimulus for solar by increasing the demand in 2019 to 5.5% up from the old requirement of 1.95%
Big Win for Owners and Investors in MD Solar
This law is a boon for owners of existing solar in MD, new investors of solar and any of the associated businesses involved in the development of solar projects.
SRECs; Then and Now In MD
SREC’s are the primary funding sources for solar in MD. Flett Exchange has run a market for MD SRECs since July of 2009. At that time the goal was to obtain 2% solar by year 2022 and SREC prices on Flett Exchange were $370 for MD SRECS. During the last 10 years the price to install solar decreased significantly and the 2% goal in MD was achieved quicker than expected. The state legislature and governor in MD were unsuccessful in putting new solar growth targets into law for a few years. This resulted in a slow-down of new solar development and the prices for SRECs decreased in response. Prices for MD SRECs dropped below $30 in 2016 and traded under $10 until recently. Due to the anticipated and eventual passage of this Clean Energy Jobs Act SREC prices have moved up above $60 as of today. We provide historical pricing on our website for your reference based on our Flett Exchange Daily Settlement price. Current owners of Solar in MD are taking advantage right now and selling their SRECs as the prices rise on the Flett Exchange MD SREC spot market via immediate delivery and payment.
What’s Next for Solar in MD?
The major take-away of this new law is that it creates a strong, long-term goal for demand for SRECs which is what solar investors look for. As opposed to other states, it takes a well-balanced approach by protecting ratepayers by way of a lower compliance payment which starts at $100 and gradually decreases to $20.23 by year 2030. This is important in that solar investors want to be confident that the mandates are less likely not to be rolled back due to rate increases. The following is a table comparing the previous solar mandates to the new ones implemented via the Clean Energy Jobs Act:
|
Old Cost Cap |
New Cost Cap |
Year |
Old % Solar |
New % Solar |
|
$150 |
$100 |
2019 |
1.95% |
5.5% |
|
$125 |
$100 |
2020 |
2.5% |
6.0% |
|
$100 |
$80 |
2021 |
2.5% |
7.5% |
|
$75 |
$60 |
2022 |
2.5% |
8.5% |
|
$60 |
$45 |
2023 |
2.5% |
9.5% |
|
$50 |
$40 |
2024 |
2.5% |
10.5% |
|
$50 |
$35 |
2025 |
2.5% |
11.5% |
|
$50 |
$30 |
2026 |
2.5% |
12.5% |
|
$50 |
$25 |
2027 |
2.5% |
13.5% |
|
$50 |
$25 |
2028 |
2.5% |
14.5% |
|
$50 |
$22.50 |
2029 |
2.5% |
14.5% |
|
$50 |
$20.235 |
2030 |
2.5% |
14.5% |
How do you Sell SRECs if you own Solar in MD?
Flett Exchange is celebrating a decade of servicing Maryland solar owners this summer! We look forward to the next ten years and assisting our current and all future Maryland Solar investors. We offer a do-it-yourself SREC service for those who don’t mind handling the GATS meter readings and transfers. If you sign up you gain access to our exchange 24x7 for immediate transfer and payment. For those who want a hassle-free full-service brokerage we offer Flett REC Manager. We will handle all of your meter readings, SREC minting in GATS and process your sales and payments immediately upon SREC creation. We are efficient at what we do so we have low fees to match. Our goal is to help you maximize your revenues on your solar investment! Sign up for either service on our website.
DISCLAIMER: Maryland SREC prices are volatile. Buyers and sellers of SRECs must do their own research. The above projections are subject to change as market dynamics change.
Posted on
DISCLAIMER: Maryland SREC prices are volatile. Buyers and sellers of SRECs must do their own research. The above projections are subject to change as market dynamics change.
Posted on
Supply and Demand. This is the main driving factor in MD SREC pricing.
Currently there is 478 mw of solar installations registered in PJM-EIS, the website that creates SRECs. These facilities will generate an estimated 570,000 SRECs for the 2016 calendar year. Add in the unsold SRECs from 2014 and 2015 (around 100,000 SRECs) and we are looking at an oversupply of 230,000 or more SRECs after the buyers turn in their 2016 SREC purchases.
The 2017 vintage is oversupplied. The RPS requires approximately 615,000 SRECs to be turned in for 2017 compliance year. With the 230,000 plus SREC carry over from 2016 plus the current 478 mw of solar generating SRECs right now that demand is met and oversupplied again by approximately 115,000 SRECs. As the year goes along and more solar is installed the market become more and more oversupplied.
Build Rates: Maryland has been installing more and more solar year over year. In 2013 around 40 mw was installed, 2014 around 60 mw and in 2015 124 mw! Yes, in 2015 twice as much solar went on-line then 2014. If this trend continues, installing double the 2015 number, we could potentially see 248 mw installed this year. Is this build rate sustainable? Potentially yes, but that’s an aggressive amount to install. However, just this year MD has installed almost 100 mw’s and its only been 4 months. If the 2016 build rate does in fact double we could project a 400,000 SREC oversupply for 2017. If the build rate remains the same, 10 to 11 mw a month, an oversupply of 200,000 plus SRECs could happen.
Legislative variable: Will the current house bill HB116 http://tinyurl.com/zeklecq that just passed in the House and Senate fix the problem? The bill does call to increase the solar carve out. For 2017 the RPS for solar will be increased from 0.95% to 1.15% or increase the demand from 615,000 SREC to about 725,000 SRECs. This increase would soak up the oversupply of SRECs but not if the current build rate continues. The date in which the bill will reach the Governors desk has not been scheduled yet.
DISCLAIMER: This article contains forward looking statements. Actual market action could differ materially from those anticipated. Sellers of SRECs should do their own research. Actual SREC production may differ significantly from those estimates. The company assumes no obligation to update any forward-looking statement.
Posted on
The Maryland Senate passed legislation, Senate Bill 791, increasing the minimum percentage of Tier 1 renewable energy the must be derived from solar in the Maryland renewable energy portfolio standard. It will increase the amount of Solar Renewable Energy Certificates SRECs that the energy companies will have to buy from owners of solar. Now, the Governor just has to sign it.
The increases run from energy year 2013 to 2021. Matter deleted is in [brackets], amendments are in bold.
(8) in 2013, 8.2% from Tier 1 renewable sources, including at least
2 [0.2%] 0.25% derived from solar energy, and 2.5% from Tier 2 renewable sources;
3 (9) in 2014, 10.3% from Tier 1 renewable sources, including at least
4 [0.3%] 0.35% derived from solar energy, and 2.5% from Tier 2 renewable sources;
5 (10) in 2015, 10.5% from Tier 1 renewable sources, including at least
6 [0.4%] 0.5% derived from solar energy, and 2.5% from Tier 2 renewable sources;
7 (11) in 2016, 12.7% from Tier 1 renewable sources, including at least
8 [0.5%] 0.7% derived from solar energy, and 2.5% from Tier 2 renewable sources;
9 (12) in 2017, 13.1% from Tier 1 renewable sources, including at least
10 [0.55%] 0.95% derived from solar energy, and 2.5% from Tier 2 renewable sources;
11 (13) in 2018, 15.8% from Tier 1 renewable sources, including at least
12 [0.9%] 1.40% derived from solar energy, and 2.5% from Tier 2 renewable sources;
13 (14) in 2019, 17.4% from Tier 1 renewable sources, including at least
14 [1.2%] 1.75% derived from solar energy, and 0% from Tier 2 renewable sources;
15 (15) in 2020, 18% from Tier 1 renewable sources, including at least
16 [1.5%] 2.0% derived from solar energy, and 0% from Tier 2 renewable sources;
17 (16) in 2021, 18.7% from Tier 1 renewable sources, including at least
18 [1.85%] 2.0% derived from solar energy, and 0% from Tier 2 renewable sources; and
19 (17) in 2022 and later, 20% from Tier 1 renewable sources, including at
20 least 2% derived from solar energy, and 0% from Tier 2 renewable sources.
Since SREC demand is based on a percentage of power in Maryland instead of a fixed rate the ultimate SREC requirement in future years is very hard to estimate, especially 5 to 10 years out. Large amounts of energy efficiency could decrease electricity consumption in the future, while increasing economic activity coupled with electric vehicles could increase electricity demand in the future. The law increases help with short term demand, however long term SREC demand is hard to quantify.
Owners of solar in Maryland utilize Flett Exchange to sell their SRECs directly to the highest bid on the Flett Exchange Maryland SREC Market. Electric companies utilize Flett Exchange to purchase SRECs to comply with Maryland renewable portfolio standards (RPS). The RPS requires the purchase of SRECs by electric suppliers if those suppliers do not generate a minimum percentage of the supplied electricity with solar.
Flett Exchange is a leading environmental exchange and brokerage firm. Our online trading platform brings transparency, price discovery, and liquidity to Solar Renewable Energy Certificates (SRECs). Our knowledgeable staff is also available to assist you in selling your SRECs for you. Over 4,200 active clients utilize Flett Exchange to negotiate the price, quantity, and details of SRECs through our brokers or on our online trading platform. Upon each SREC transaction Flett Exchange remits immediate payment to our sellers. Flett Exchange operates SREC markets in NJ, PA, DE, MD, OH, and DC, supported by trained solar professionals with specialized knowledge and proven experience.
Flett Exchange also brokers bilateral long-term SREC contracts between qualified counterparties. Flett Exchange buyers and sellers can secure price, quantity, and terms of SREC contracts 1-5 years in duration. Our stringent vetting process ensures that quality solar projects are presented to the market in a skillful manner. Buyers and sellers utilize Flett Exchange for long-term SREC contracts gain direct access to large pools of SRECs, while mitigating risk and locking-in profits. Please visit www.flettexchange.com to learn more about our services. (201) 209-0234.
DISCLAIMER: This article contains forward looking statements. Actual market action could differ materially from those anticipated. Sellers of SRECs should do their own research. Actual SREC production may differ significantly from those estimates. The company assumes no obligation to update any forward-looking statement.
Posted on
LOS ANGELES, APRIL 15, 2010 — (Reuters) — Installed solar capacity jumped an astonishing 37% in 2009 following an onslaught of state and federal incentives offered during the recent economic crisis to help prop-up demand for new solar equipment. Grants, subsidies, tax-credits and cash incentives helped push revenue past $4 Billion in 2009, a 36% increase from the previous year.
According to a report released last Thursday by solar advocates it was the fourth straight year of unprecedented growth for the solar photo-voltaic industry here in the United States. This contrasts with the long-standing European solar power industry, which has seen a decrease as it’s mainstay nations ramp-down their incentive programs.
New U.S. solar capacity reached 481 Megawatts (MW) last year, an increase of 130 MW from 351 in 2008. Solar thermal for water heating also rose, but at a more modest 10% on the year. The only decline was seen in solar-pool heating, which saw a 10% decline blamed mostly on the slowdown in the housing sector.
Analysts say that the spike in U.S. growth is also attributed to lower prices of solar hardware, which the Solar Energy Industries Association (SEIA) reported fell an estimated 40% in recent years. “Despite the Great Recession of 2009, the U.S. solar industry had a winning year and posted strong growth numbers… Consumers took notice that now is the best time to go solar,” says SEIA CEO Rhone Resch. The increase in solar was led by California, with New Jersey coming in second place, followed by Florida, then Arizona.
According to the SEIA, six solar utility projects also came on line in 2009, including both solar PV and solar concentration plants. Despite the increase, solar still remains under 1% of utilities generation within the United States. The SEIA is optimistic for the future however and predicts 17 Gigawatts of solar power down the line, enough to power over 3 million homes.
“Now we’re talking gigawatts of solar, not megawatts,” said Resch.
View the SEIA’s 2009 Industry Year in Review Here:
http://seia.org/galleries/default-file/2009%20Solar%20Industry%20Year%20in%20Review.pdf
View the original article from Reuters Here:
http://www.reuters.com/article/idUSN159853820100415
(Reporting by Dana Ford; Editing by Marguerita Choy)
Posted on
olar energy is attracting investment dollars. Competitive returns, lower barriers of entry, state and federal incentives, SREC revenue streams, and progressive Renewable Energy Portfolio Standards (RPS) are advancing solar to the forefront of renewable energy world. As the solar market evolves, so are the financial structures that are assisting investors in financing and completing projects. This article will examine various financing strategies, the risks and rewards associated with them, and the incentives involved with solar investing.
Many solar projects are contingent on tax benefits, rebates, and long-term SREC contracts. Without these incentives and risk mitigation strategies solar projects can be difficult to finance and pose significant risk to investors. Let’s examine some of the incentives and strategies that are allowing the solar market to flourish.
As the solar markets continue to evolve new and innovative thinking will be the most prized commodity. The emergence of banks, lenders, financial institutions, and new financial structures will be welcomed and as solar makes the transition form a subsidized market to a self-sustaining market.
TAGS:
New JerseyPennsylvaniaOhioMarylandWashington DCPress ReleasesSREC
Posted on
Solar energy is gaining momentum in the renewable energy world. It is being heralded as a smart investment due to growth prospects, favorable market conditions, federal and state incentives, and more stringent Renewable Portfolio Standards (RPS). Individual and institutional investors are committing capital and taking risk because of potential profits and tax benefits that are associated with developing solar. Existing and newfound factors are driving solar energy to become a more mainstream investment. This article will examine these factors and demonstrate how they are contributing to solar energy’s success.
Solar energy is a favored renewable energy source. Solar is easy to install, is a hedge against higher electricity prices, generates a SREC revenue stream, and is beneficial to the environment. So far advantageous market conditions have attracted investors to solar.
However the future of the solar market also comes with challenges and risks. Increased competition could create an overpopulated market. Inexperienced players who are attracted by favorable market conditions could sacrifice engineering and construction quality for short term monetary gains. The reduction of federal and state incentives could make solar less appealing. As the solar market evolves it will be interesting to see if it could sustain itself and emerge as an established renewable energy source.
TAGS:
New JerseyPennsylvaniaOhioMarylandWashington DCPress ReleasesSREC
Posted on
Flett Exchange is pleased to introduce four new solar markets. Our online auction-exchange now hosts live Solar Renewable Energy Certificate (SREC) markets for the District of Columbia, Delaware, Maryland and Pennsylvania.
For the past two years Flett Exchange has established a premier presence in the New Jersey SREC market. Our online auction-exchange has completed over $1.7 million in transactions for 2009 and has over 680 customers. Flett Exchange has an extensive network of Load Servicing Entities (LSEs) in the PJM-GATS region which increases SREC liquidity and price discovery. Our mission is to bring our diligent solar service to the DC, DE, MD and PA SREC markets and help increase solar transparency.
The solar market structures for DC, DE, MD and PA are similar to New Jersey. The DC, DE, MD and PA SREC markets clear through The Generation Attribute Tracking System (GATS) and all solar owners registered with (GATS) are eligible to participate in our markets. Load Servicing Entities (LSEs) use the Flett Exchange to buy SRECs to satisfy their Renewable Portfolio Standards (RPS) requirements.
Flett Exchange looks forward to bringing transparency, price discovery and immediate execution for DC, DE, MD and PA SREC markets. Our online auction-exchange is supported by knowledgeable professionals who provide personalized service. Flett Exchange’s online auction-exchange is the most reliable and cost-effective solution to transacting and monetizing your SRECs. For a free account or immediate assistance call (201)-209-9426 or go to flettexchange.com and discover our SREC, NJ Class 1 REC, RGGI, Interest-Rate, Physical Gold and Silver markets.
Posted on
Flett Exchange LLC announces the launch of its Maryland Solar Renewable Energy Certificate (SREC) market. Load Serving Entities in the State are required to purchase 2 % of their total energy output from solar energy systems by 2022. Similar to New Jersey’s SREC program each certificate will represent 1000kWh of renewable energy. Details on the MD market can be found at Maryland RPS Website or at https://flettexchange.com/markets/maryland/market-data
Flett Exchange will leverage its experience in the New Jersey markets to help match LSEs and solar systems owners with its value added transparent web based trading/auction platform. The Exchange has brokered over $1.7 million in transactions year to date with over 650 customers. Flett Exchange’s NJ SREC market has operated continuously for two and a half years allowing buyers and sellers 24 hours access to live pricing information and the immediate ability to monetize their SRECs.
Flett Exchange looks forward to bringing transparency, price discovery and immediate execution for DC, DE, MD and PA SREC markets. Our online auction-exchange is supported by knowledgeable professionals who provide personalized service. Flett Exchange’s online auction-exchange is the most reliable and cost-effective solution to transacting and monetizing your SRECs. Buyers and sellers meet on Flett Exchange to negotiate price and quantity of Solar Renewable Energy Certificates (SRECs). Our internet-based auction platform brings transparency and price discovery to SRECs markets allowing Flett Exchange users place working orders in live. Public entities can auction their SRECs on the Flett Exchange platform and obtain a competitive price in a transparent manor. The solar community is choosing Flett Exchange because our trading platform is easy to use, always reliable and absolutely secure. For a free account or immediate assistance call (201)-209-9426 or go to www.flettexchange.com and discover our SREC, NJ Class 1 Rec, RGGI, Interest-Rate, Physical Gold and Silver markets.
TAGS:
Maryland