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NH SREC Shenanigans

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  • NH SREC Shenanigans

    NH SRECs have never been particularly lucrative. The utilities have a lot of influence in the Public Utilities Commission and generally whatever legislation is passed by the state to encourage solar, the utilities manage to dilute it. I got a note from my SREC broker that the utilities now can use SRECs generated by PV systems not enrolled as SREC generators to apply to the utilities limited SREC obligations. The utilities also have successfully argued with the PUC in the past that there is not enough PV generation to support a high PV SREC market so the PUC sets a very low PV requirement. The net result is that there is a very small demand for SRECs in the NH market and the majority of them come for free from small installations that haven't bothered with enrolling their systems. The enrollment process in NH is not simple and requires multiple steps, given the low SRECs value there isn't a lot of incentive to enroll systems so few folks enroll.

    Every state is different and some states like Mass have very lucrative SREC markets (for now), but a major caveat to SRECs is I sure wouldn't plan on them in the long term to part of the payback for PV. For us folks who paid cash up front I expect its not an issue but for those with long term lease type contracts, make sure that they are not depending on SRECs in the mix.

    The utilities are also trying to go after Net metering in NH but to date they haven't succeeded. They do appear to have support to phase it out which I can support as the original intent was to get early adopters like me to "prime the pump" of PV installs so that there would be development of viable PV market.

  • #2
    My setup is 2 years old now. The SREC started at $49 each. In the last statement, it is down to $25. Almost half in just 2 years. Not a good trend.

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    • #3
      The claim is a new law passed will raise them up but ultimately the PUC is pretty well owned by the utilities so don't expect Mass rates.

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      • #4
        My guess is that anyone that calculates their ROI using SREC's or even Net Metering is putting themselves into a position for a future lose. Based on PUC's changing the game plan you can't rely on the price for either of those two things to stay the same for a homeowner.

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        • #5
          The kicker for me is, the same month I got my statement for the SREC is the same month that I was billed for my annual payment to the auditor. So 3 SREC equates to $75 less $40 for the auditor's fee for a net of $35.00. To add further insult, Unitil decided to increase their delivery fee starting that same month for $10.27 to $15.00.

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          • #6
            Originally posted by SunEagle View Post
            My guess is that anyone that calculates their ROI using SREC's or even Net Metering is putting themselves into a position for a future lose. Based on PUC's changing the game plan you can't rely on the price for either of those two things to stay the same for a homeowner.
            The annoying part about SRECS in NH is they make an owner jump through hoops to get a system qualified to sell SRECS so most folks don't. The utility then takes credit for un-enrolled systems production and counts that against their minimal solar carve out which tanks the market for anyone selling.

            The net metering changes are even more of a scam. The enabling legislation was quite specific that small PV systems under 10 KW up to a 1% overall state power demand cap would be grandfathered for a broad interpretation of net metering "forever" so that a subsequent change in the law wouldn't negate its benefits. Unfortunately the only solar advocacy group in NH is the NHSEA whose members include installers and others who benefit from new installs. The state had met the 1% cap awhile ago and was rapidly approaching a 1% extension so they were looking at a loss of net metering on new installs which would tank the demand for new installs. When it came to the choice of future net metering or protecting prior commitments they rapidly caved and allowed changes to the rules retroactively.

            It all comes down to

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            • #7
              Just saw my August statement. SREC is now at $15 each.

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              • #8
                I guess the choice is let it ride and hope for an increase or stop selling them and let the bast**ds win

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                • #9
                  Sorry guys,..

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                  • #10
                    Just be glad you don't live in some other states, like MD.. when I signed to have solar installed almost 2 years ago, SREC's were over $120. After solar was installed, they were at $40. I think they are at around $5 right now. Obviously a huge hit on ROI. I did do the 3 year lock-in at $40, though, so I ended up making the right decision there.

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