July saw significant new capacity getting registered. Registered projects capacity increased from 406 MW last month to 623 MW.
However, our analysis found that very little of that is seeing issuance as of now. Approximately 30,000 RECs were issued this month translating to only 42 MW equivalent capacity (using standard PLFs). This represents only 10% of the total registered capacity, or 30% of the effective capacity (after factoring in PLFs).
*Calculated from standard PLFs applied to registered capacity