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In any given year, if the supply of SRECs is greater than the demand, the state will implement the Solar Credit Clearinghouse Auction. This auction takes place at the end of July. Any SRECs sold in the auction will be bought at a fixed price. There is no guarantee that SRECs deposited in the auction will sell. Any unsold credits from the auction will be reminted. They can be sold anytime over the next three years, but they can never be deposited into another clearinghouse auction.
No, in New Jersey, you get credit for SRECs from the date of your interconnection agreement. This should be the day that your system was turned on. If that is the case, then you will get credit for production from your meter reading of 0.
To find the number of SRECs that were minted for your system, log into the Knollwood Energy Customer Portal then select View Creation/Payment Summary. SRECs Created is now updated with the number of SRECs minted from your last reported production plus any roll-over production from the previous quarter. When payments are processed, the portal will be updated with SRECs Sold and the sale price.
SRECs are created quarterly based on meter readings reported to the MassCEC Production Tracking System (PTS). Production MUST be reported into MassCEC-PTS.com in order to mint SRECs. PTS is open to report production for 10 days each month–the last 5 days of the month through the first 5 days of the new month. If you do not know your PTS login, go to www.MassCEC-PTS.com then click “Never received your user name or password? Forgot your username or password?” Leave the username blank and enter your email address. The username and password will be emailed to you.
Reporting by Owner – Enter the lifetime production from the Solar/Revenue Grade meter. It is best to report monthly, but if you miss one month report the lifetime production the next month. If production is not reported, no SRECs will be minted.
Automatic Reporting – If you have an automatic reporting company, we recommend that you check your PTS account at least quarterly. It is your responsibility to confirm that it is being reported by checking ‘View Production Data’ in PTS. Most automatic reporting companies were set up to report for 5 years. If you find production is no longer being reported, contact your installer immediately to get a new contract. or to get assistance in determining the reason for it not reporting. If production is not reported, no SRECs will be minted.
- Production from first quarter (January – March) is minted on July 15th
- Production from second quarter (April – June) is minted on October 15th
- Production from third quarter (July -September) is minted on January 15th
- Production from fourth quarter (October – December) is minted on April 15th
A Renewable Energy Credit (REC) is a tradable commodity that represents proof that 1,000kwhs (1MWh) was produced from a registered solar renewable energy facility.
SRECs are created quarterly based on meter readings reported to the MassCEC Production Tracking System (PTS). Production MUST be reported into MassCEC-PTS.com in order to mint SRECs. PTS is open to report production for 10 days each month–the last 5 days of the month through the first 5 days of the new month. If you do not know your PTS login, go to www.MassCEC-PTS.com then click “Never received your user name or password? Forgot your username or password?” Leave the username blank and enter your email address. The username and password will be emailed to you.
Reporting by Owner – Enter the lifetime production from the Solar/Revenue Grade meter. It is best to report monthly, but if you miss one month report the lifetime production the next month. If production is not reported, no SRECs will be minted.
Automatic Reporting – If you have an automatic reporting company, we recommend that you check your PTS account at least quarterly. It is your responsibility to confirm that it is being reported by checking ‘View Production Data’ in PTS. Most automatic reporting companies were set up to report for 5 years. If you find production is no longer being reported, contact your installer immediately to get a new contract or to get assistance in determining the reason for it not reporting. If production is not reported, no SRECs will be minted.
See our glossary for descriptions of the different terms.
Some history – In 2010 MA DOER implemented the SREC program. That program closed to new installations in 2014. The next program was the SREC 2 program which closed in 2017. The SMART program was next and that program has reached capacity. The Class 1 REC program is the only incentive program currently being offered. Since the Class 1 REC incentive program accepts ALL renewables and all renewables from neighboring states, the price is lower than the previous SREC incentive programs.
Eliminate the trip to the bank and get your payment directly deposited into your bank account. Click here for a link to the secure ACH form. You only need to complete this form if you currently receive payment by check. You can view your current payment option in the Knollwood Energy Customer Portal. Direct deposit payments are typically received 5-7 business days sooner than postal mailed checks.
Customers in the SREC program were originally eligible for SRECs for 15 years. You have reached that milestone. Your system does not qualify for SRECs anymore, but does qualify for NJ Class 1 credits.
If your utility offers net metering, yes. A renewable energy credit is generated based on the system’s total solar production, regardless of energy usage in your home. Net metering is an additional benefit provided to you by your utility. Net meter does not affect your REC benefit.
Apply for state certification to qualify for credits (Knollwood Energy will manage this certification process for you). Report your system’s meter readings at the end of each month through our Customer Portal – credits will be generated based on your monthly meter readings. Sign up for direct deposit and get paid on a monthly or quarterly schedule (determined by your state).
To begin earning credits (except in NJ), your system must be state-certified—a separate process from your installer’s initial application.
As a Knollwood Energy customer, we handle the entire certification process for you, working with your installer to gather technical info and track approval with the state. Once certified, we’ll set up your account in the state’s tracking system, where you can monitor your energy production.
Monthly Meter Reporting & Payments
At the end of each month, your system’s meter readings must be submitted—either through our customer portal or your state’s tracking platform. In Massachusetts, many customers choose a meter reading service to handle this step.
Credits are generated based on your monthly readings, and payments are made monthly or quarterly, depending on your state. In rare cases, payments may be delayed if market prices are unusually low and expected to improve.
SRECs are generated if quarterly production is submitted before the minting deadline and if there was enough production to create an SREC.
