Meredith Hiller is an Associate in our
Boston office.
The Massachusetts Department of Energy Resources (DOER) issued
emergency regulations this week to launch its Solar Massachusetts
Renewable Target (SMART) program. SMART follows the DOER's
current SOLAR Renewable Energy Certificate II (SREC-II) program as
the next major solar energy incentive program in the Commonwealth.
SMART's main goal is to encourage development of 1600 MW of
solar energy in Massachusetts in a cost effective way while
providing long-term revenue certainty to project owners and
developers.
In contrast to the SREC-II program, SMART will not include
production of tradable solar energy certificates, but instead will
use a declining block structure applicable to all electric
distribution companies (EDCs) to provide the same compensation
rates to projects across the Commonwealth. The value of the
incentive is the net difference between the all-in rate and the
value of the energy, and
