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SREC Prices by State 2024

SREC Prices by State 2024

Solar Renewable Energy Credits (SRECs) play a pivotal role in incentivizing solar energy production across different states in the USA. A Solar Renewable Energy Credit is a tradable certificate that represents the renewable attributes of electricity generated from solar energy systems. For every megawatt-hour of electricity produced from solar, one SREC is earned.

The value of SRECs varies significantly from state to state due to differences in renewable energy policies, market demand, and solar energy generation capacity. States like Maryland, Massachusetts, and New Jersey have well-established SREC markets with relatively high prices, providing strong financial incentives for solar investment.

On the other hand, states like Alabama, Alaska, and Arizona do not have SREC programs, which may indicate less favorable conditions for solar energy development or alternative approaches to incentivizing renewable energy.

Understanding SRECs is crucial for solar project owners, as these credits can be sold or traded in renewable energy markets, providing an additional revenue stream and helping to offset the cost of solar installations. Additionally, SRECs play a vital role in meeting renewable energy targets and reducing carbon emissions, contributing to a more sustainable energy future.

SREC Prices by State 2024

  • SREC is an acronym for Solar Renewable Energy Credits, which are awarded to homeowners who own solar panels and which can be sold to utility companies.
  • SRECs are sold through specialized brokers, the two largest of which are SRECTrade and Sol Systems.
  • Some states have introduced SREC-II, a modified program in which the value of the SREC is fixed and does not fluctuate with the market.
  • Michigan, Indiana, Kentucky, and West Virginia have no SREC market of their own. However, homeowners in certain parts of these states may sell their SRECs on the Ohio market.

Download Table Data

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State
Has SREC Market
SREC Trade ( SREC- I)
Sol Systems (SREC- I)
Sol Systems (SREC- II)
SREC Trade ( SREC- II)
DelawareYes$7
District of ColumbiaYes$370$330
MarylandYes$59$55
MassachusettsYes$332$315$260$276
New JerseyYes$233.50$215$85$85
OhioYes$3.50$4
PennsylvaniaYes$42$40
VirginiaYes$45
IndianaSee Ohio
KentuckySee Ohio
MichiganSee Ohio
West VirginiaSee Ohio
AlabamaNo
AlaskaNo
ArizonaNo
ArkansasNo
CaliforniaNo
ColoradoNo
ConnecticutNo
FloridaNo
GeorgiaNo
HawaiiNo
IdahoNo
IllinoisNo
IowaNo
KansasNo
LouisianaNo
MaineNo
MinnesotaNo
MississippiNo
MissouriNo
MontanaNo
NebraskaNo
NevadaNo
New HampshireNo
New MexicoNo
New YorkNo
North CarolinaNo
North DakotaNo
OklahomaNo
OregonNo
Rhode IslandNo
South CarolinaNo
South DakotaNo
TennesseeNo
TexasNo
UtahNo
VermontNo
WashingtonNo
WisconsinNo
WyomingNo
showing: 51 rows

Sources