From SRECs to SMART — Massachusetts is Overhauling its Solar Incentive Program

However, there is still time to qualify for SRECS

 

For the last seven years, Massachusetts has run an extremely successful incentive program to promote the adoption of clean solar energy across the state based on solar renewable energy credits (SRECs). According to the MA Department of Energy Resources (DOER) the amount of installed solar capacity grew from below 20MW before 2010 to more than 1,699 MW in 2017 across 71,953 projects. The SREC program has been so successful that Massachusetts, a small state in the Northeast not known for its sunshine, is now known as one of the premiere states for solar development.

However,  in 2018 Massachusetts will be retiring the SREC-II program and implementing the Solar Mass Renewable Target program (SMART). This new incentive program will be a feed-in tariff (FIT)  and is scheduled to go into effect on April 1, 2018. Systems built before that date will qualify for the current SREC-II program, but they need to be mechanically complete (they do not need to be connected to the grid) by March 31st. There are advantages to the new SMART program, but there will be a reduction in the amount of the overall incentive offered compared to the current SREC-II program.

 

 

 

To meet the March 31st deadline, you would have to sign-up with an installer by early November 2017, or sooner depending on system size and complexity. If you are have been thinking about solar, now is the time to act to take advantage of the SREC incentive. Essentially, you have a 30-60 day window to sign a contract and get a project started to meet the deadline.

Interested in learning more about how you can get started on a project? Give us a call, and we’ll run a site assessment and handle the entire solar process from start to finish.

 

 

For more details about the SREC-II and SMART Programs, please visit the links below:

https://solect.com/doer-releases-next-generation-solar-incentive-program-proposal/

http://www.mass.gov/eea/energy-utilities-clean-tech/renewable-energy/rps-aps/development-of-the-next-solar-incentive.html