Massachusetts Renewable Energy & Energy News | Suntility Electric LLC

What is an SREC or REC?

SRECs and RECs are integral parts of the Massachusetts Renewable Portfolio Standard (RPS) which requires an increasing percentage of the state’s electricity supply to come from renewable energy sources. The required percentage of renewable energy in Massachusetts is increasing by 1% each year and the requirement is targeted to reach 15% by 2020 with an additional 1% each year thereafter. For example retail electric suppliers must provide a minimum percentage of 9% renewable energy as a percentage of sales by the end of 2014.

A Renewable Energy Certificate, or REC as it is commonly known, represents the positive environmental attributes associated with clean energy production. This is independent of, and in addition to, the electricity component of clean energy production. Effectively a REC is one of two components that renewable energy generators produce: electricity and RECs. Every time 1000 kWh (1 MWh) of electricity is produced by a qualified renewable energy facility, that facility produces a REC as well. These RECs once minted can be traded and sold to retail electric suppliers (utilities that generate electricity) to help them fulfill their renewable energy obligation. RECs can be created by a number of renewable energy sources including: solar PV; geothermal; marine or hydrokinetic energy; low-emission advanced biomass; low impact small hydroelectric; landfill methane gas; fuel cell; wave/tidal energy; ocean thermal electric; wind; and solar thermal electric. REC prices trade in a range that is in part determined by an Alternative Compliance Payment (ACP) Rate set by the Massachusetts Department of Energy Resources. If retail electric suppliers are unable to procure enough RECs in the marketplace to satisfy their renewable energy obligation they must pay a penalty at the Alternative Compliance Rate. Therefore electric suppliers have been incentivized to purchase RECs in the open market place to avoid the ACP.

A Solar Renewable Energy Certificate, or SREC, is virtually the same as a REC except that SRECs are associated with energy from solar photovoltaic systems. Because they have a separate and higher ACP than regular RECs, SRECs often command a higher market price. The Department of Energy Resources (DOER) has also utilized a price support auction to aid SREC pricing. This auction is often referred to as the Solar Credit Clearinghouse Auction or DOER Auction. While the majority of SREC sales occur in the open market through SREC brokers the Solar Credit Clearinghouse Auction is an important option for solar installation owners.

To understand your options in brokering your RECs or SRECs contact Suntility Electric and we can discuss what is available to you in the marketplace to assist you in selling your certificates.

Suntility is your trusted partner in success. Suntility provides renewable energy maintenance services, utility credit services, owner’s agent services and consulting solutions to optimize facility reliability, performance and value.

To learn more contact us at 508-566-6322

By Michael on January 28, 2014

How Do You Know That You’re Getting The Proper Energy Value From Your Wind Or Solar Installation?

Rebates, tax credits and depreciation aside long-term renewable energy facility owners know that the electricity savings, often in the form of net metering credits, and renewable energy certificates are key drivers of project returns. Therefore ensuring your wind or solar facility is: 1) properly producing; and 2) accurately accounting for the net metering credits and renewable energy certificates is critical for the success of your investment. At Suntility we’re dedicated to helping you achieve both goals: peak performance and helping you optimize the energy value of your system. With our market insights and experience on hundreds of renewable energy installations, solar and wind, Suntility is a trusted partner to provide operations support, system administration, facility maintenance, performance reporting, production verification as well as brokerage assistance for renewable energy certificates and solar renewable energy certificates. Managing renewable energy systems across the state from Southeastern Massachusetts to the Boston area and beyond, Suntility has got you covered for your renewable energy system needs.

To learn more contact us at 508-566-6322

By Michael on January 28, 2014

Monitoring Your Renewable Energy Facility Is Key To Maximizing System Uptime

Suntility performs daily detailed tracking and analysis of your wind or solar project to ensure proper function, uptime and system cash flows

Suntility performs detailed daily tracking and analysis of your wind or solar project to ensure proper function, uptime and system cash flows

Having a professional monitor your clean energy system is an essential service function for your wind or solar facility. For example losing a few days worth of solar production can quickly cost you thousands of dollars of revenue and savings that you could have captured if only you were aware of the issue and had someone making the appropriate response. For solar a number of issues need to be monitored including: grid disruptions; system disconnections; inverter malfunctions; communication issues; and other potential issues. While the majority of solar installations have equipment, either revenue grade meters or inverters, that can generate automated alerts for problems, these alerts are very common and interpretation is important to identify issues that are real and require immediate attention. Having a solar expert to break through all the noise and focus on what matters to keep your system running as well as possible is absolutely critical. Working with Suntility you will receive daily monitoring of your wind or solar installation to provide you with the peace of mind that your system is experiencing no issues and if it is that the appropriate response will be made. Furthermore Suntility monitors your wind or solar project on holidays, vacations and weekends so that you don’t have to – after all renewable energy doesn’t take any days off. Suntility’s review also covers high wind and weather events to further ensure that storm related problems are identified as quickly as possible as well.

To learn more about Suntility’s comprehensive administration, detection and tracking for your Massachusetts commercial or utility-scale wind or solar installation contact us at 508-566-6322.

By Michael on January 23, 2014

Check out how the recent storm is affecting electricity markets and reliability

Powerlines and snowfall in New England

Wondering how the recent snowfall and blizzard are affecting electricity markets in Massachusetts and across the region check out these links and graphics.

See how the cold weather increases wholesale electricity prices as customers increased heating demands on electric heat and natural gas push up electricity prices in the marketplace:

Independent System Operator New England – Guest Dashboard

See where there are current outages by town in the NSTAR electric service territory:

NSTAR Outage Map

See where there are current outages in the National Grid electric service territory:

National Grid Outage Map

Renewable energy sources such as wind can help to lower wholesale electricity prices in the winter as wind has no fuel costs and is increasingly more competitive than oil and coal. Solar, also with no fuel costs, provides a similar benefit in both the summer and in the winter on good sunny days – and when the snow is clear.

To learn more contact us at 508-566-6322

By Michael on January 22, 2014

Suntility Electric Now on Linkedin, Facebook & Twitter

Suntility Electric is now on social media! Get up to date news and information on Suntility Electric and renewable energy through Linkedin, Facebook and Twitter:

www.linkedin.com

www.facebook.com/pages/Suntility-Electric/266234613531514

twitter.com/suntility

Click on the above links to learn more about Suntility Electric’s net metering credit services, owner’s agent services, renewable energy consulting services, and maintenance services for solar and wind installations across the region. In addition Suntility also provides a suite of other services to complement it’s core services including assistance to system owners for SREC and REC brokerage in Massachusetts as well to help renewable energy projects maximize all of the various revenue streams available to these projects.

To learn more contact us at 508-566-6322

By Michael on January 21, 2014

Suntility Expands Services to Entire Massachusetts Renewable Energy Market

Founded in 2011 Suntility Electric in late 2013 expands its renewable energy services beyond the My Generation Energy installed base of over 160+ solar installation clients to serve renewable energy system owners across Massachusetts. Clients include many of the largest solar and wind systems across the region including Southeastern Massachusetts, MetroWest and Cape Cod. Key services include:

– Net Metering Credit Services: To Ensure You’re Receiving The Proper Energy Value From the Utility;

– Maintenance Services: To Ensure Your System Is Performing At Its Best;

– Consulting Services: So That You Can Leverage Suntility’s Deep Legislative And Regulatory Insights To Maximize Your Project’s Revenue and Savings; and

– Owner’s Agent Services: To Support A Client’s Current Or Future Project To Achieve Their Renewable Energy Goals.

Additional valued services include: Solar Renewable Energy Certificate (SREC) Brokerage Assistance; Renewable Energy Certificate (REC) Brokerage Assistance; Shading Analysis; Bill Audits; Request For Proposal (RFP) Management and more.

To learn more contact us at 508-566-6322

By Michael on August 15, 2013

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