Virginia Targets 100% Clean Energy as it Weathers the COVID-19 Storm

Michelle Reade, Miguel Bantigue Market Research Briefs

Virginia is the newest state within the PJM RTO to establish a mandatory RPS target, and the Old Dominion state is aiming high with a goal of 100% renewable energy by 2050 under the Clean Economy Act (HB 1526/HB 851). Governor Ralph Northam signed the bill on April 12, 2020, just 6 months after his 43rd Executive Order which set the wheels in motion for a plan to reach the 100% renewable energy target.

U.S. Renewable Energy Monthly Policy Round-up

Ali Shajrawi, Liam Brooks Market Research Briefs

The following report provides a monthly summary of proposed and recently enacted legislative and regulatory policy affecting the renewable energy markets in the United States. It also serves as the first iteration of a Karbone renewable energy policy commentary series. The series will be updated regularly on a monthly basis.

Decoding the MA SREC-II Forward Outlook: Compliance Year 2018 in Focus

Ali Shajrawi, Liam Brooks Market Research Briefs

Last week, the Senate introduced a revised version of HB114, maintaining the RPS mandate but reducing the non-solar requirement to 8.5% and solar requirement to 0.34% by 2022, and keeping it as such before ending the program entirely in 2027. HB114 also loosens the siting requirements for wind projects, seeking to invite investors back to developing in OH.

The Clean Energy Standard

Ali Shajrawi, Liam Brooks Market Research Briefs

On August 11, 2017, Massachusetts regulators filed the proposed final version of CMR 7.75, the Clean Energy Standard (CES), a plan to cut state GHG emissions by 80% of their 1990 levels by 2050. To achieve this aggressive target, the state is going to rely on the procurement of long-term contracts to import hydropower from Canada, as well as the development of more renewable resources, such as wind and solar. Ultimately, however, whether this new mandate can achieve its compliance targets is going to require not only committed project development capital, but also large investments in new transmission lines.

SMART-er Solar Market in Massachusetts?

Ali Shajrawi, Liam Brooks Market Research Briefs

On August 11, 2017, the Massachusetts Department of Energy Resources (DOER) filed a much anticipated final version of the Solar Massachusetts Renewable Target (SMART) Program regulation. This revised SMART framework proposition includes several components that market participants heavily discussed during three public hearings as critical to the success of this program and its objectives.

Massachusetts Solar Market: A SMART Successor to the SREC Program?

Ali Shajrawi Market Research Briefs

On January 31, 2017, Massachusetts policy makers unveiled a much anticipated, revised solar program that radically transitions solar incentives away from the SREC market and towards a structure akin to a feed-in-tariff regime. Nevertheless under the new program, facilities will still generate Class I RECs that could be used to meet MA Class I compliance obligations.

MA SREC II Market Update – No Bill, Full Caps, Can’t Build

Ali Shajrawi Market Research Briefs

After the recent failure of the Massachusetts legislature to pass a compromise bill to raise the net metering cap before winter recess, many projects are at risk of heading off a cliff. Coupled with the Investment Tax Credit (ITC) step-down from 30% to 10% for commercial projects, the delay in raising the net metering cap may jeopardize the installations of over 115 MW in 2016. In this Report, the Karbone Research Desk addresses the impact of these recent developments on the SREC-II market and discusses forward build rates scenarios, historical pricing trends, and the impact of legislative uncertainty on market fundamentals.