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 30 MW (an estimated 34,164 MWh or SRECs), known as the 2010 Minimum Standard.

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 carve out 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

As of 8 September 2010, the DOER has qualified 8.1 MW of SREC projects. Excluding those with pre‐ 2010 contracts, we estimate the remaining market for 2010 is 9,500 to 13,300 SRECs. The 2011 Minimum Standard is raised to 78,577 SRECs following the TransCanada settlement, making the market potential for 2011 approximately 63,000 SRECs.

Pennsylvania SREC Market Update

Karbone Market Research Briefs

The Pennsylvania (PA) Alternative Energy Portfolio Standard (AEPS) includes exemptions for 70% of the Electricity Distribution Companies (EDCs). These exemptions will cease in January 2011.

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 carve out requirement. Like other states in PJM, the AERS includes an SREC market, distinct from other classes of RECs.

New Jersey SREC Market Update

Karbone Market Research Briefs

The New Jersey (NJ) Renewable Portfolio Standard (RPS) includes the most ambitious solar carve out of the U.S. states. The 2010 target of 180 gigawatt hours (GWh) of Solar Renewable Energy Credits (SRECs) is unable to be met by the 141 GWh available generation capacity since 2007.

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 (34,164 MWh or SRECs), known as the 2010 Minimum Standard.

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.