On August 29th, the Massachusetts Department of Energy Resources (MA DOER)  announced the 2013 requirement for Solar Renewable Energy Credits in the MA Solar Carve-Out program.  Based on the existing calculation used by the DOER, the 2013 requirement would be 130,711 SRECs.  This number  takes into account the impact of the Pre-2010 load which will reduce the demand by 4,784 SRECs.

However, in an effort to adjust for the current market conditions, DOER intends to make a change to the Compliance Obligation formula that would increase the demand by 53,802 SRECs, or a total of 184,513 required SRECs in 2013.   If approved, this increase in demand would be retroactively applied to the entire 2013 SREC compliance year.  DOER welcomes any comments on this announcement before formally beginning the rulemaking process. Such comments should be sent to  DOER.SREC@state.ma.us by 5:00pm on September 14th..

In either scenario, we are expecting the market for 2013 will be oversupplied. DOER is currently predicting that at the beginning of the 2013 SREC year, there will be approximately 165MW of installed capacity. That 165MW will generate approximately 190,00 SRECs.  So, even with the rule change the market is predicted to be oversupplied in 2013.