By Frank Andorka, Senior Correspondent
After several years of fits and starts, Massachusetts yesterday began to accept applications to it’s Solar Massachusetts Renewable Target, or SMART, program.
Billed as a successor to the state’s former solar Renewable Energy Credit (SREC) program, the SMART program is designed to encourage solar development in the state within the context of its three major utilities.
According to the SMART website:
The SMART Program is a 1600MW declining block incentive program. Eligible projects must be interconnected by one of three investor owned utility companies in Massachusetts: Eversource, National Grid, and Unitil. Each utility has established blocks that decline in incentive rates between each block.
One commissioner, Judith Judson, explained to MassLive why they needed to move away from the SREC program:
“It was a volatile, market-traded program,” said Judson. “National companies, or even an individual homeowner, didn’t know what they would be getting from the SREC market. We’ve changed it to a predictable revenue stream.”
Applications submitted within the next five days will be considered as part of the same capacity block. Further, according to the SMART website:
All applications received on or after 12:00 AM ET December 1, 2018 will be reviewed and placed into Capacity Blocks on a first come, first served basis.
The program still allows Massachusetts residents to enter into leasing agreements. Under the old rules, leasing companies could claim the SRECs. Under the new program, they will just be able to collect the tariff payments instead.
The launch of Massachusetts’ SMART program is exciting to those of us who have been waiting for the Massachusetts market to take off. Now that a successor to the SREC program is finally in place, that may finally happen.
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Massachusetts accepts first applications for new solar SMART incentives