Ohio SREC Market Overview and Update

Karbone Market Research Briefs

The Ohio Alternative Energy Resource Standard (AERS) is one of the most recent state Renewable Portfolio Standards (RPS) to include a solar requirement. Like other states in PJM, the AERS includes an SREC market, distinct from other classes of RECs.

Massachusetts SREC Market Update

Karbone Market Research Briefs

The Massachusetts Department of Energy Resources (DOER) adjusted downward the Solar Alternative Compliance payment (SACP) by 8.3% from $600 to $550 for 2011 related compliance. This reduction appears, at least in part, to have resulted from declining PV module prices. The DOER stated that installed project costs have decreased 5 to 10% since the program inception. 

New Jersey SREC Market Overview and Update

Karbone Market Research Briefs

With the expectation of the 30% Cash Grant ceasing at year-end, December 2010 installed capacity increased by 25 MW to 260 MW. The renewal of the cash grant in the final session of the 2010 Congress extends financing support into 2011, enabling capacity growth to continue at 20 MW in January 2011.

Massachusetts SREC Market Update

Karbone Market Research Briefs

The Massachusetts SREC market has suffered an initial, partial setback in the implementation of its solar carve‐out pricing. The Massachusetts Department of Energy Resources (DOER) set the states’ first solar carve‐out target at 30MW (an estimated 34,164 MWh or SRECs), known as the 2010 Minimum Standard.

Alberta Offset Market Overview: Offset Credit Growth Continues

Karbone Market Research Briefs

Based on our analysis of the Alberta Specified Gas Emitters market, the offset market is expected to grow in 2010 and 2011 despite the setback to the federal carbon programs in the US and Canada. In 2009, Offset Credits accounted for 36% of the compliance market, second only to 40% for Tech Fund payments made in lieu of compliance. 2010 will see a continuation of the trend from 2007 through 2009 of an increasing use of offset credits. The offset market, though dominated by the agricultural sector, has increasing volumes of wind and biomass projects registered in 2010. Offset volume should surpass the 2009 total of 3.8 mtCO2e with prices expected in the range of $12 to $14.50.

Pennsylvania SREC Market Update

Karbone Market Research Briefs

The PA Alternative Energy Portfolio Standard (AEPS) is already adequately supplied for Reporting Year (“RY”) 2011 and will likely remain long through RY 2012. Despite utility RPS exemptions expiring in January 2011, inclusion of out-of-state facilities will keep installed capacity high through 2012.

Massachusetts SREC Market Update

Karbone Market Research Briefs

The Massachusetts SREC market has suffered an initial, partial setback in the implementation of its solar carve‐out pricing. The Massachusetts Department of Energy Resources (DOER) set the states’ first solar carve‐out target at 30MW (an estimated 34,164 MWh or SRECs), known as the 2010 Minimum Standard.

Alberta Offset Market Overview: Market Growth Continues

Karbone Market Research Briefs

Based on our analysis of the Alberta Specified Gas Emitters market, the offset market is expected to grow in 2010 and 2011 despite the setback to the federal carbon programs in the US and Canada. In 2009, Offset Credits accounted for 36% of the compliance market, second only to 40% for Tech Fund payments made in lieu of compliance. 2010 will see a continuation of the trend from 2007 through 2009 of an increasing use of offset credits. The offset market, though dominated by the agricultural sector, has increasing volumes of wind and biomass projects registered in 2010. Offset volume should surpass the 2009 total of 3.8 mtCO2e with prices expected in the range of $12 to $14.50.

Delaware SREC Market Overview

Karbone Market Research Briefs

The Delaware (DE) Solar Renewable Energy Certificate (SREC) market benefited from amendments made in Senate Bill 119 raising the 2026 solar percentage to 3.5%. The changes have increased the 2012 percentage five-fold and created a more gradual increase through 2026.