Massachusetts Solar Srec Program

Massachusetts property owners who buy and install a solar panel system can earn hundreds or even thousands of dollars a year by selling the srecs the system generates.

Massachusetts solar srec program.

A homeowner earns one srec for every 1000 kilowatt hours kwhs produced by their solar panel system an srec can be worth over 300 in certain states. What is an srec. The program now referred to as srec i was created as a massachusetts specific solar carve out of the new england rec market. In january 2010 the massachusetts department of energy resources doer took it one step further.

The smart program officially started on november 26th 2018. Building a brighter future for massachusetts. Sadly this program is coming to an end. This article doesn t discuss why the.

In november 2018 the massachusetts department of energy resources doer officially opened the massachusetts smart program in order to support solar development throughout the state. The massachusetts solar renewable energy certificate srec program is one of the most advantageous financial incentives for solar available at the state level. The massachusetts department of energy resources doer in conjunction with the participating electric utilities is setting their sights even higher for the most energy efficient state in the nation by launching the solar massachusetts renewable target smart program. Solar renewable energy credits srecs massachusetts is one of a number of states that have a renewable portfolio standard rps.

This requires electricity suppliers to secure a portion of their electricity from renewable energy generators. The minimum standards for the class i solar carve out and solar carve out ii are the percentages of a supplier s total retail load obligation that must be met by the ownership of solar carve out and solar carve out ii renewable energy certificates srecs and srec iis issued by the nepool gis with each srec or srec ii representing the. The program was designed to replace the state s solar renewable energy credit srec program. The smart program officially launched on november 26 2018 marking the last day on which solar facilities in massachusetts could qualify under the srec ii program in order to qualify facilities need to meet the following requirements.

Solar renewable energy certificates srecs are a solar incentive that allows homeowners to sell certificates for energy to their utility. Systems 25 kw dc and less. The massachusetts department of energy resources doer launched the first massachusetts srec program in january 2010. This incentive program was very popular and reached its capacity for new installations in 2016.

Following this the state of massachusetts began developing the new solar incentive program and planning for the transition away from srecs. For the past seven years massachusetts solar owners have been able to earn solar renewable energy certificates srecs for the energy produced by their solar energy systems.