SRECs have enabled stable pricing for solar developers and has enabled utilities to reach zero-emission targets. Following the revisions made to the Renewable Portfolio Standard (RPS) Class I Regulation that were finalized on April 25, 2014, the Department of Energy Resources carved out a portion of the RPS Class I Renewable Energy requirement to support distributed solar photovoltaic (PV) energy facilities, as provided by the Green Communities Act of 2008. This is an addition to the original Solar Carve-Out Program, which qualifies projects from January 1, 2010 through April 25, 2014.
The RPS Solar Carve-Out II is a market-based incentive to support residential, commercial, public and non-profit entities in developing new solar PV installations across the Commonwealth. This program seeks to build on the success of the original RPS Solar Carve-Out Program and is designed to support the market until 1,6000 MW of PV Capacity has been installed Statewide. Under SREC II, projects have been directed toward homes, small businesses, landfills, and community projects while minimizing costs.1
Project Eligibility for SREC II is described below:
- Must have capacity of 6 MW DC or less per parcel of land
- Must be interconnected to the distribution system in the Commonwealth of Massachusetts, which includes municipal light districts
- Must use some generation one-site and be interconnected to the utility grid
- Must have a Commercial Operation Date of January 1, 2013 or later