On March 10, 2023 B24-0950, which was codified as Law Number L24-0314, went into effect. The Solar Renewable Energy Portfolio Standard (RPS) target increased from 10% to 15% by 2041. The Alternative Compliance Payment (ACP) schedule was also adjusted. 

The DC SREC market has experienced unstable conditions due to oversupply and lack of liquidity over the last two years. The RPS increase and the more gradual step-down of the ACP will address these issues and lead to a more stable market. These changes will provide more price stability within the SREC market and increase investor confidence. Current market prices and requirements can be found on our website. 

SRECTrade was proud to work with solar companies and other stakeholders in support of this bill. Monitoring market conditions and supporting legislation that benefits our clients and partners is one of our highest priorities. 

The California Air Resources Board (CARB) published quarterly program data for the Low Carbon Fuel Standard (LCFS) on January 31, 2023. In this piece, we will provide some analysis of the new data and highlight interesting trends. 

But First: What is the Credit Bank and Why is it Growing?

Each quarter, CARB issues credits and deficits based on the carbon intensity (CI) and volume of fuel reporting under the program. The cumulative credit bank, a measure of net credit generation over the lifetime of the program, is often used as a proxy for credit supply and demand. This credit bank grew for the first few years of the program, reaching about 10M MT by the end of 2016. From 2017 through the first half of 2021, the credit bank remained largely stable as quarterly net gains were balanced by quarterly net reductions. However, the credit bank has increased significantly since then, reaching about 13.5M MT according to the latest data.

The immediate reasoning behind the growing bank is simple:

1. An increase in the production and use of low carbon fuel, which creates credits
2. A simultaneous decrease in the use of gasoline and diesel, which creates deficits

The forces behind these trends are much more complex, but the LCFS is itself one of those forces. For example, the production of renewable diesel (RD) is incentivized by LCFS and now makes up almost 40% of the diesel fuel reported in the program. RD displaces the use of conventional diesel which would otherwise create deficits. As more RD is produced, more credits and fewer deficits will be generated each quarter. And RD happens to be the single largest source of credits in the program, making up about ⅓ of all credits last quarter.

Of course, RD is not the only fuel generating credits and contributing to the growing credit bank…

Q3 2022 Credit Trends

• The largest quarter-over-quarter increases came from renewable natural gas (10%), ethanol (6%), and electricity (6%).
• RD declined slightly (-3%) for the first time since 2020
• The primary driver of credit growth from renewable natural gas (RNG), the third largest credit source in the program, has been declining average CI. While RNG volume is only 7% up from the same quarter last year, the average CI is now -111 gCO2e/MJ compared to -60 last year. The lower the CI of a fuel, the greater number of credits it will generate.

Spotlight on EV Credits

Credits from electric vehicles continue to be a major source of growth in LCFS, reaching a record share of credits generated Q3 2022 (24%). Consistent with previous quarters, almost 90% of credits from EV charging came from just three categories: residential (49%), eForklifts (23%), and non-residential light/medium-duty (15%).

CARB is expected to release Q4 2022 data by April 28, 2023.  

The Pasha Group Partners with SRECTrade to Decarbonize through California’s LCFS Program

SAN RAFAEL and SAN FRANCISCO, CA — Today The Pasha Group announced its partnership with SRECTrade to transition to low- and zero-emission equipment across its West Coast operations. The logistics and transportation services leader is partnering with SRECTrade to generate and monetize carbon credits from electric vehicles and equipment under the California Low Carbon Fuel Standard (LCFS). 

The Pasha Group has led the transition to renewable energy in the marine ports sector through many projects and initiatives over the last five years, through initiatives to retrofit forklifts, drayage trucks, terminal tractors, and on-road EV trucks in California, the installation of dozens of charging stations, and a microgrid. The company has also conducted Terminal Equipment demonstration and prototyping projects in the Port of Los Angeles and serves on goods movement Technical Advisory Committees for the California Energy Commission. The Pasha Group and its partners have accomplished milestones in the marine port transition to clean energy such as approving and performing the first hydrogen refueling for a hydrogen powered vessel.

The Pasha Group continues to pave the way in electrifying ports with the support from incentives like LCFS, a market-based compliance program that provides ongoing funding to entities operating electric and hydrogen equipment. SRECTrade’s expert advisory and technology-enabled services make participation in complex compliance programs simple, rewarding, and transparent. 

“SRECTrade is a valuable partner, providing our team with up-to-date information and opportunities to incorporate sustainability practices into our operations,” says George Pasha, IV, President and CEO. “Our partnership with SRECTrade contributes to our mission of moving forward as quickly as possible with our ESG goals.”

For companies still looking to benefit from clean fuels programs, The Pasha Group advises getting started now and working with a trusted partner like SRECTrade. To learn how much you can earn from clean fuel programs, contact SRECTrade at cleanfuels@srectrade.com.

About The Pasha Group

Established in 1947, The Pasha Group is a family-owned, third-generation diversified global logistics and transportation company that provides ocean transportation for containers and rolling stock between the U.S. West Coast and Hawaii; port processing services for finished and privately owned vehicles; stevedoring for vehicles, breakbulk and container cargos; auto hauling services with its truck fleet throughout the contiguous U.S.; domestic and international relocation services; and international logistics management for general commodity and project cargoes.

About SRECTrade

As the leader in environmental commodity management, SRECTrade provides full-service management and transaction solutions across a variety of renewable energy and clean fuel programs. The company is the largest third-party manager of EV charging assets under the California Low Carbon Fuel Standard. SRECTrade’s parent company, Xpansiv, provides market infrastructure to rapidly scale the world’s energy transition. Xpansiv operates CBL, the largest spot exchange for environmental commodities, including carbon credits and renewable energy certificates.

The Local Solar Expansion Amendment Act of 2022 was introduced on July 14, 2022. This bill will increase the Solar Renewable Portfolio Standard (RPS) target from 10.00% to 15.00% by 2041. It will also adjust the current Alternative Compliance Payment (ACP) schedule. Below is the proposed schedule:

This bill passed two council votes in December and was approved during the mayoral review period. The Congressional review period is the final step and is expected to complete in the next 2 months.

The DC SREC market has experienced oversupplied market conditions, which have resulted in a lack of liquidity and lower SREC prices. Increasing the RPS will help with this oversupply issue. Additionally,  a more gradual decrease to the ACP schedule will support higher SREC prices. The passage of this bill would put DC in the position of having the most highly valued SREC compliance market in the United States. 

On June 15, 2022, SRECTrade temporarily shut down its own Adjustable Block Program (ABP) application as a result of the ABP closing its application. 

On August 10, 2022, SRECTrade announced that it would be retiring as an Approved Vendor in the ABP. As previously stated, SRECTrade will continue to provide services for applications that were successfully submitted to SRECTrade’s portal before the June 15, 2022 closure. This includes applications that were originally submitted to SRECTrade as non-energized. 

On Thursday, January 26, 2023, at 10 AM CT, SRECTrade will enable Part II of its application for existing customers to allow the submission of Part II/energization information and documentation.

The SRECTrade ABP application has been updated to reflect the changes made to the Part II ABP application by the Program Administrator. These changes include the following: 

• Requirement of the “Construction activities completion date” – date of which construction for the project was completed. 
• “Proof of Construction Completion Date” document upload – required for non-residential projects with a “Construction activities completion date” on or before September 15, 2021, but a “Utility interconnection date” after September 15, 2021. The Prevailing Wage Act defines ‘construction’ to include maintenance, repair, assembly, or disassembly work performed on equipment. 
•  “Proof of Revenue Grade Metering” document upload – required if “Revenue Grade” is selected for “Meter accuracy”. All projects > 10 kW AC are required to utilize a Revenue Grade Meter. 
• “Unavailability of Net Metering Credits” document upload – required if “This facility is not enrolled in Net Metering” is selected. 
• Addition of “Employee Declines to Identify” fields for Hours worked by Race and Hours worked by Ethnicity in the Demographic Data portion. 

Application review times will be influenced by the number of Part II applications submitted. SRECTrade anticipates a large influx of applications and we appreciate your patience.

SRECTrade Pays Fleets under Canada’s Clean Fuel Regulations for Owning and Operating Electric Equipment.

SAN FRANCISCO, CA — SRECTrade, the single partner to manage and transact environmental commodities, announced that it has expanded its management and transaction services to Canada. With these services, SRECTrade and parent company Xpansiv, the premier global market-infrastructure platform for environmental commodities, generate and monetize clean fuel credits to fund budgets to help cover the cost of deploying and operating zero emission vehicles.

In June 2022, Canada launched the Clean Fuel Regulations (CFR), requiring a reduction in the carbon intensity (CI) of transportation fuels by 15% by 2030. This fuel agnostic program provides valuable incentives for transitioning to and operating clean fleets, including EV charging stations, electric and hydrogen buses, trucks and other equipment. The CFR shares many similarities with clean fuel programs across the United States including the California Low Carbon Fuel Standard (LCFS) and Oregon Clean Fuel Program (CFP). To learn more about participating in the Canada CFR, register for SRECTrade’s webinar on January 31 at 10 am PST.

SRECTrade is already serving Canadian companies and multinationals broadening their participation in clean fuel programs. As the largest agent manager of electric vehicle charging and renewable energy assets across North America, the firm’s expansion into Canada solidifies SRECTrade’s continued leadership in the space, providing clients equitable access to clean fuel and renewable energy programs wherever they exist.

“Organizations that act quickly to meet registration deadlines will be among the first to start generating credits this year,” says Steven Eisenberg, Xpansiv’s President of Managed Solutions. Under Canada CFR, there is no retroactive credit generation so the best time to get started is now. To learn more, contact cleanfuels@srectrade.com.

About SRECTrade

SRECTrade is the single partner to source, manage, and transact environmental commodities globally. Founded in 2008, SRECTrade is the largest agent manager of electric (EV) and renewable energy assets across the U.S. With a 99% annual client retention rate, the firm has generated almost a billion dollars in value across more than 64,000 clients while managing over 185,000 clean energy assets on its technology platform. SRECTrade partners with commercial and public entities across a variety of market segments including manufacturing, freight and logistics, warehouse and distribution, maritime, EV charging networks, transit fleets, municipalities, universities, property management companies and others. SRECTrade is a wholly owned subsidiary of Xpansiv, the premier market-based infrastructure platform for environmental commodities.

For information concerning this release, please contact:

SRECTrade
cleanfuels@srectrade.com

Check out our November 2022 Clean Fuels Market Update for the latest news on clean fuel programs across North America. Highlights from this edition include: 

• SRECTrade begins registrations for Canada’s new Clean Fuel Regulations (CFR)
• CARB holds workshops to discuss significant changes to the LCFS program 
• Oregon adopts stricter CFP targets

Contact SRECTrade at cleanfuels@srectrade.com to start getting paid for the clean equipment you already own and operate.

Check out our August 2022 Clean Fuels Market Update for recent updates on clean fuel programs, pricing trends, regulatory news, grant programs, and more. Highlights from this edition include: 

• Canada launched a new clean fuel program! The early registration deadline is August 20.
• The CA LCFS market continues to be very active, with over 3.5 million credits transferred in July alone, the third-busiest month of the program.
• CARB’s workshop on July 7 provided several key insights into the future of LCFS.

Contact SRECTrade at cleanfuels@srectrade.com to start getting paid for the clean equipment you already own and operate.

After careful consideration SRECTrade has made the decision to no longer provide Approved Vendor services for new Adjustable Block Program (ABP) eligible projects. This decision was made due to the increasing complexity and cost of servicing new assets under the ABP.

SRECTrade will continue to provide services for applications that were successfully submitted to SRECTrade’s portal before the June 15, 2022 closure. This includes applications that were originally submitted to SRECTrade as non-energized. Understanding that these non-energized applications require the energization information and documentation, SRECTrade will enable Part II of its application for existing customers to allow the submission of these materials. SRECTrade will announce this reopening date once all final changes to the application process have been announced by the IPA and new program administrator. 

SRECTrade remains committed to servicing all existing ABP customers throughout the duration of their 15 year REC contract. Most importantly SRECTrade will continue to make payments to projects scheduled to receive first time or quarterly payments and to work with customers to ensure their systems are meeting their contracted REC obligations.

SRECTrade would like to thank you for your patience and understanding during this transition. SRECTrade looks forward to serving its Designees and existing clients during the remainder of their participation in the ABP.

On Tuesday, August 2nd, SRECTrade announced that it has surpassed 1 gigawatt (GW) of assets under management.

“This scale demonstrates SRECTrade is the preeminent provider in ensuring clients earn a return on their renewable energy investments,” said SRECTrade Managing Director Janet Mihalyfi. “The gigawatt spans more than 65,000 assets and facilities, including solar, wind, and thermal energy projects. To put this in perspective, 1 GW is equivalent to the electricity usage of approximately 170,000 homes per year.”

SRECTrade is the leading management and transaction platform for Solar Renewable Energy Certificates (RECs) and clean transportation markets across North America. In California’s Low Carbon Fuel Standard (LCFS) program, SRECTrade is the largest independent manager of electric vehicle charging station carbon credits.

“Our expertise enables clients across a variety of complex markets and allows clean transportation, renewable energy, and other low carbon initiatives to be invested in with confidence,” said SRECTrade Managing Director Mike Saxton. “Reaching a carbon free future is possible with SRECTrade.”

“This achievement demonstrates SRECTrade’s leading capabilities across a variety of environmental commodity markets,” said Xpansiv CEO Joe Madden. “It is an integral part of our burgeoning environmental infrastructure.”

SRECTrade’s customers include competitive electricity and fuel suppliers, utilities, clean transportation fleet operators, renewable energy developers and installers, and commercial, industrial, and residential asset owners.

Download the May 2022 Clean Fuels Market Update to learn about the latest information on clean fuel programs, pricing trends, policy updates, grant programs, and related news. Highlights from this edition include: 

• On March 21, the Securities and Exchange Commision (SEC) proposed a rule change that would require public companies to disclose information about how they are measuring and managing climate risks.

• The California LCFS market saw an increase in the credit bank of nearly 971k credits, the largest ever quarter over quarter increase.

• Get the newest version of the SRECTrade LCFS Calculator app to estimate credit values through Oregon’s Clean Fuels Program (CFP) and California’s Low Carbon Fuel Standard (LCFS) program.

Contact SRECTrade at cleanfuels@srectrade.com or (415) 763-7732 to start getting paid for your clean fuel assets.

On May 16, 2022, the Illinois Power Agency (IPA) announced that subject to available capacity, currently open Small and Large Distributed Generation blocks will remain open until July 1, 2022. The Adjustable Block Program will then pause its acceptance of applications. 

The Program Administrators will start accepting Part I applications on September 1st, and Part II applications by November 1st. Please note that the Part II application may reopen sooner than November if feasible. 

You can find more information on the IPA’s decision here. Most notably, the Long-Term Plan is expected to be approved on July 14, 2022, and all applications submitted to the Program on or after September 1, 2022 will be subject to new or revised Program requirements outlined in the Long-Term Plan. 

As a result of the Adjustable Block Program closing its application, SRECTrade has made the decision to temporarily shut down its own application on June 15, 2022, at 5 PM CT. SRECTrade cannot guarantee submission of applications to Part I or Part II prior to the Program’s July 1st close. 

The closure of SRECTrade’s application will allow for SRECTrade to properly incorporate any required changes that arise with the passage of the Long-Term Plan. SRECTrade will announce the reopening date of its application once the changes have been confirmed and updates have been implemented. 

SRECTrade believes that the closure of its application is the most efficient path to application submissions. The temporary closure will mitigate the need to retroactively collect information for applications that is not currently required but will become required after the passage of the Long-Term Plan. 

Group A Large DG Block 5 closed on March 29, 2022 at 11:59 PM CT. Any Group A Large DG applications that were Part I submitted and batched prior to the closure were placed in Block 5. 

Group A Large DG applications Part I submitted and batched will now be added to the waitlist. Applications can be selected off of the waitlist as other applications withdraw and open capacity.

The addition of future blocks is dependent on the passage of the 2022 Long-Term Renewable Resources Procurement Plan.

On February 16, 2022, the Adjustable Block Program (ABP) issued an announcement stating that Demographic and Geographic Data will now be collected via the Part II application.

On February 25, 2022, SRECTrade made the announcement that its ABP application would be temporarily closed to energized projects to allow the appropriate changes to be made to our application so that it could collect the new Demographic and Geographic Data requirements. 

SRECTrade’s application has now been updated, and is open to energized and non-energized applications. 

The application requires the Demographic and Geographic Data for energized systems that are interconnected after September 15th, 2021.  

On February 23rd, SRECTrade made the announcement that it would be temporarily closing its website to all ABP (Adjustable Block Program) submissions so that the appropriate changes can be made regarding the newly enacted demographic and geographic data requirements for Part II of the ABP application.

In hopes of mitigating the delay of Part I applications, effective immediately, SRECTrade’s application portal will allow applications to be submitted for non-energized projects until further notice. An update will be released regarding the reopening of SRECTrade’s application portal for energized projects in the near future.

On February 16, 2022, the Adjustable Block Program (ABP) issued an announcement stating that Demographic and Geographic data will now be collected via the Part II application.

Per the announcement, “The Part II application will ask Approved Vendors to provide the aggregate hours worked by employees and/or subcontractors in construction and installation of the project by 1) race, 2) ethnicity, 3) residential ZIP code of the worker, and 4) status as a graduate of a qualifying job training program.”

As a result, Part II submission of applications may be delayed as we work with our partners to collect this necessary information.

Projects exempt from needing to report this information include projects that were approved by the Illinois Commerce Commision prior to September 15, 2021 (the enactment of Public Act 102-0662), and/or projects for which construction was completed on or before September 15, 2021.

Lastly, SRECTrade is temporarily closing its website to all ABP submissions so that we can make the necessary changes to our application and allow for this data to be collected upfront

The February 2022 Clean Fuels Market Update covers the latest information on clean fuel programs, pricing trends, policy updates, grant programs, and related news. Highlights from this edition include: 

• The California LCFS market saw an increase in the credit bank of nearly 433k credits, its largest credit increase since 2016
• The Oregon Clean Fuels Program (CFP) pricing for Q4 2021 remained steady at approximately $125 per credit
• New Mexico continues efforts to enact a Clean Fuel Standard

Contact SRECTrade at cleanfuels@srectrade.com or (415) 763-7732 to start generating revenue from your clean fuel assets.

Providers are starting to  phase out their support of more than 22 million 3G communications devices—including critical equipment your solar system uses to measure, record, and communicate production data.

As a result of this phaseout, these modems/meters will fall out of compliance for the minting of RECs and receipt of payments to solar system owners.

To prevent this sunset from impacting you, SRECTrade has partnered with 365 Pronto to remove and dispose of old 3G modems or meters and replace them with new 4G/5G modems or meters that follow the regulations and network communications needed for verified REC payments to system owners.

System owners who choose not to upgrade will soon stop receiving REC payments, negatively impacting their expected return on investment from their solar installation(s).

Pricing, Payment, and Rollout

System owners are responsible for the cost of this replacement equipment and related labor. SRECTrade is committed to helping our customers keep costs low, so we have negotiated preferred pricing with 365 Pronto, our technology and logistics partner. This pricing is conditional on the system owner registering for the replacement in a timely manner when the rollout has reached their geographical region.

The rollout is being conducted in phases, with a registration deadline of Wednesday, February 23, 2022.

If you delay the registration—or do so outside the period within your region—we cannot guarantee the agreed-upon preferred price.

Next Steps

If you are a SRECTrade client receiving REC payments, the process begins by visiting the replacement program entry page to help determine whether you need a meter replacement or a modem replacement:

Replace Your Meter – Sign Up with 365 Pronto

From there you’ll complete a simple, step-by-step, online interface to register your system. Completing the application to register your system takes less than 10 minutes. You will be asked to:

1. Verify the accuracy of our records about your system and site location
2. Make an initial payment for the work to commence
3. Provide the best contact information for a local provider to contact you and schedule the work

We estimate that your meter will arrive 30-40 days after you purchase it. Once your 365 Pronto service provider has your equipment in stock, they will reach out to you to schedule the installation. In many cases, the homeowner does not have to be present during the installation.

Frequently Asked Questions

1. Why is this replacement necessary?
   • Wireless communications protocols become obsolete over time, and the wireless carriers (Verizon, AT&T, etc.) are phasing out old networks (2G/3G) in favor of faster, upgraded networks. Many solar systems installed more than three years ago likely have equipment designed for the network technology of the time (2G/3G).
2. Who is 365 Pronto?
   • 365 Pronto is our technology and logistics partner. It is a technology platform company matching asset owners (you) with an on-demand qualified workforce (local service providers) through automated technology. Because of its unique model, it can service the entirety of SRECTrade’s systems under trading.
3. How much will a new meter cost?
   • SRECTrade negotiated a lower-than-market price for the labor this work of $534.00; however, you’re eligible for a 20% in-market price discount on your meter if you register for your replacement by Wednesday, February 23, 2022. That means a reduced price on the labor of $464.20*, but you’ve got to book in this time frame for when 365 Pronto is conducting the work in your area.
   • *Disclaimer: Price is subject to i) applicable sales tax on equipment and ii) change, based on availability and when you reserve your meter. Once your 365 Pronto service provider has your meter in stock, they will reach out to you to schedule the installation.
4. Can I use my original installer?
   • Yes, you may contact your installer to ask about having this work performed. However, providers who are not part of the 365 Pronto network may not be able to guarantee the same price. This is why it is important to book your meter replacement with 365 Pronto by Wednesday, February 23, 2022 and reserve your discounted price.
5. When will my new meter be installed?
   • The ongoing effects of the pandemic have caused worker shortages, which have impacted factory production of goods, including meters. Delays at major ports have slowed down shipping and delivery schedules even more.
   • Once your 365 Pronto service provider has your equipment in stock, they will reach out to you to schedule the installation. At that time, 365 Pronto will process your payment for the installation. In some cases, the homeowner does not have to be present during the installation. However, if the unit is in the garage, it may be necessary for you to be present during the installation.
6. Do I need to do anything once the new meter is installed?
   • No. Once your new meter is installed, it will begin to communicate your solar output with SRECTrade as normal. If you have questions about your SRECTrade account, please see question 13 on who to contact.
7. How do I know my meter is working?
   • We understand that there is a delay between when your output is recorded and when your RECs are minted. We will provide email confirmation to let you know that the system is working. If you have questions about your SRECTrade account, please see question 13 on who to contact.
8. Will my meter stop working after the REC deadline and interrupt my RECs?
   • Your meter will continue to monitor your output; however, it will no longer communicate directly with SRECTrade after the 3G sunset, which is scheduled to happen as early as February 2022. If you have questions about your SRECTrade account, please see question 13 on who to contact.
9. What is the meter model type and manufacturer that is being used for the replacement(s)? Is it up to the installer?
   • Installers do not have a choice in the type of replacement meter they install. They will replace your meter with the Cat M1 ArrayMeter.
10. Whom should I contact to cancel a work order? Is this possible in the first place?
    • If, on the rare occasion, a customer wishes to cancel an order, they should submit the request to support@365pronto.com.
11.  Is the 365 Pronto Wizard secure?
    • The security of the 365 Pronto platform and website is paramount, and we treat customer information with the utmost care. Information is captured by 365 Pronto through our platform and stored on AWS servers. 365 Pronto is an AWS native platform, and for that reason, we use the Well-Architected framework provided by that cloud provider. We follow the design principles proposed in their security pillar. These include principles such as (1) Implementing a strong identity foundation, (2) Enabling traceability, (3) Applying security at all layers, (4) Automating security best practices, (5) Protecting data in transit and at rest, (6) Keeping people away from our data, and (7) Preparation for security events. Anyone with additional questions should reach out to support@365pronto.com.
12. Is there a 365 Pronto customer service phone number to call for assistance with registering? How can clients sign up if they do not have a computer?
    • Currently, we offer chat support via the website and email support. Although we can help customers with the process, they need to access our platform to purchase their meter. They can log into the sign-up wizard from any browser on a phone, laptop, or device of their choice. Anyone with questions should reach out to support@365pronto.com.
13. Who do I contact at SRECTrade if I have questions or need assistance?
    • Please use one of the following email addresses based on where your solar system is certified.
      1. Delaware (DE): de.renewables@srectrade.com
      2. District of Columbia (DC): dc.renewables@srectrade.com
      3. Illinois (IL): il.renewables@srectrade.com
      4. Maryland (MD): md.renewables@srectrade.com
      5. Massachusetts (MA): ma.renewables@srectrade.com
      6. New Jersey (NJ): nj.renewables@srectrade.com
      7. Ohio (OH): oh.renewables@srectrade.com
      8. Pennsylvania (PA): pa.renewables@srectrade.com
      9. Virginia (VA): va.renewables@srectrade.com

Overview

On August 13, 2021, the Public Service Commission of the District of Columbia (Commission) published a Notice of Proposed Rulemaking (NOPR) 68 DCR 008076 to amend Sections 2902, 2903, and 2999 to require all renewable generating facilities to account for their electricity output through the use of a revenue-grade production meter (RGM).

The original NOPR required all previously certified facilities to report energy and production data with revenue-grade meter or inverter-based equipment. After an extended comment period, the Commission no longer requires previously registered facilities to install a revenue-grade meter. These systems will be grandfathered in.

New Requirements

On January 28, 2022, under the second NOPR RM29-2021-01, the Commission announced that it now requires all new systems to “utilize a meter or inverter-based production measurement equipment to report revenue-grade energy production data to PJM-EIS GATS.” The comment period ends on February 28, 2022 and the final ruling will come there after.

Moving forward, the requirements for a revenue-grade meter on all new systems located in the District of Columbia, including any Maryland sited systems located on a DC Feeder line, will assist in reaching the RPS goal of 5% Renewable Solar Energy by 2032.

The Commission defines a revenue-grade meter as:

“Revenue-Grade Generation Meter – A meter used by a behind-the-meter generator or CREF that measures the generated electricity at the AC output of an inverter, is capable of recording the cumulative kilowatt hours that the generator produces which meets the latest American National Standards Institute (ANSI) C-12.20 standard including an accuracy deviation no greater than +/- 0.5%, and that easily displays all collected data and retains lifetime production even in the event of a power outage.”

SRECTrade

SRECTrade is dedicated to providing operational assistance in managing SRECs amongst available regions. As legislative changes frequently occur, we strive to help systems remain compliant with updated rules and regulations. We are available for questions or concerns at your convenience.

As early as this February, providers will phase out their support of more than 22 million 3G communications devices—including critical equipment your solar system uses to measure, record, and communicate production data. Depending on the component makeup of that particular system, this can be either a revenue-grade meter or the CDMA/GSM modem within certain inverter models.

As a result of this phaseout, these modems/meters will fall out of compliance for the minting of SRECs and receipt of quarterly payments to solar system owners.

To prevent this sunset from impacting you, SRECTrade has partnered with 365 Pronto to remove and dispose of old 3G modems or meters and replace them with new 4G/5G modems or meters that follow the regulations and network communications needed for verified SREC payments to system owners.

While there is no fine or penalty for not having this equipment swapped out, system owners who choose not to upgrade will soon stop receiving quarterly SREC payments, negatively impacting their expected return on investment from their solar installation(s).

Pricing, Payment, and Rollout
System owners are responsible for the cost of this replacement equipment and related labor. SRECTrade is committed to helping our customers keep costs low, so we have negotiated preferred pricing with 365 Pronto, our technology and logistics partner. This pricing is conditional on the system owner registering for the replacement in a timely manner when the rollout has reached their geographical region.

The rollout is being conducted in phases and is currently underway in Massachusetts, with a registration deadline of Monday, February 7, 2022.

If you delay the registration—or do so outside the period within your region—we cannot guarantee the agreed-upon preferred price.

Massachusetts SREC Market
Current SREC market prices are around $300/MWh/SREC. For the average system size of 7 kW, this represents a potential loss of $2,100 per year in quarterly SREC credit payments for Massachusetts residents. For systems larger than the average, the loss could be even greater.

Next Steps
If you are a Massachusetts resident receiving quarterly SREC payments, the process begins by visiting the replacement program entry page to help determine whether you need a meter replacement or a modem replacement:

Replace Your Meter – Sign Up with 365 Pronto

From there you’ll complete a simple, step-by-step, online interface to register your system. Completing the application to register your system takes less than 10 minutes. You will be asked to:

1. Verify the accuracy of our records about your system and site location
2. Make an initial payment for the work to commence
3. Provide the best contact information for a local provider to contact you and schedule the work

We estimate that your meter will arrive 30-40 days after you purchase it. Once your 365 Pronto service provider has your equipment in stock, they will reach out to you to schedule the installation. In many cases, the homeowner does not have to be present during the installation.

Frequently Asked Questions

1. What is a revenue-grade meter?
   • The meter is what your solar system uses to communicate your solar output with SRECTrade. Without this meter, we cannot determine how many SRECs to mint to you.
2. Why is this replacement necessary?
   • Wireless communications protocols become obsolete over time, and the wireless carriers (Verizon, AT&T, etc.) are phasing out old networks (2G/3G) in favor of faster, upgraded networks. Many solar systems installed more than three years ago likely have equipment designed for the network technology of the time (2G/3G).
3. What is 365 Pronto?
   • 365 Pronto is our technology and logistics partner. It is a technology platform company matching asset owners (you) with an on-demand qualified workforce (local service providers) through automated technology. Because of its unique model, it can service the entirety of SRECTrade’s systems under trading.
4. How much will a new meter cost?
   • SRECTrade negotiated a lower-than-market price for this work of $1,193.40; however, you’re eligible for a 20% in-market price discount on your meter if you register for your replacement before Monday, February 7, 2022. That means a reduced price of $998.70*, but you’ve got to book in this time frame for when 365 Pronto is conducting the work in your area.
   • *Disclaimer: Price is subject to i) applicable sales tax on equipment and ii) change, based on availability and when you reserve your meter. Once your 365 Pronto service provider has your meter in stock, they will reach out to you to schedule the installation.
5. Can I use my original installer?
   • Yes, you may contact your installer to ask about having this work performed. However, providers who are not part of the 365 Pronto network may not be able to guarantee the same price. This is why it is important to book your meter replacement with 365 Pronto before Monday, February 7, 2022 and reserve your discounted price.
6. When will my new meter be installed?
   • The ongoing effects of the pandemic have caused worker shortages, which have impacted factory production of goods, including meter. Delays at major ports have slowed down shipping and delivery schedules even more.
   • Once your 365 Pronto service provider has your equipment in stock, they will reach out to you to schedule the installation. At that time, 365 Pronto will process your payment for the installation. In some cases, the homeowner does not have to be present during the installation. However, if the unit is in the garage, it may be necessary for you to be present during the installation.
7. Do I need to do anything once the new meter is installed?
   • No. Once your new meter is installed, it will begin to communicate your solar output with SRECTrade as normal. If you have questions about your account, please email ma.renewables@srectrade.com.
8. How do I know my meter is working?
   • We understand that there is a delay between when your output is recorded and when your SRECs are minted. We will provide email confirmation to let you know that the system is working. If you have questions about your account, please email ma.renewables@srectrade.com.
9. Will my meter stop working after the SREC deadline and interrupt my SRECs?
   • Your meter will continue to monitor your output; however, it will no longer communicate directly with SRECTrade after the 3G sunset, which is scheduled to happen as early as February 2022. If you have specific questions about your SREC account, please contact ma.renewables@SRECTrade.com.
10. What is the meter model type and manufacturer that is being used for the replacement(s)? Is it up to the installer?
    • Installers do not have a choice in the type of replacement meter they install. They will replace your meter with the Cat M1 ArrayMeter.
11. Whom should I contact to cancel a work order? Is this possible in the first place?
    • If, on the rare occasion, a customer wishes to cancel an order, they should submit the request to support@365pronto.com.
12. Is the 365 Pronto Wizard secure?
    • The security of the 365 Pronto platform and website is paramount, and we treat customer information with the utmost care. Information is captured by 365 Pronto through our platform and stored on AWS servers. 365 Pronto is an AWS native platform, and for that reason, we use the Well-Architected framework provided by that cloud provider. We follow the design principles proposed in their security pillar. These include principles such as (1) Implementing a strong identity foundation, (2) Enabling traceability, (3) Applying security at all layers, (4) Automating security best practices, (5) Protecting data in transit and at rest, (6) Keeping people away from our data, and (7) Preparation for security events. Anyone with additional questions should reach out to support@365pronto.com.
13. Is there a 365 Pronto customer service phone number to call for assistance with registering? How can clients sign up if they do not have a computer?
    • Currently, we offer chat support via the website and email support. Although we can help customers with the process, they need to access our platform to purchase their meter. They can log into the sign-up wizard from any browser on a phone, laptop, or device of their choice. Anyone with questions should reach out to support@365pronto.com.