SREC Prices by State 2026
Has SREC Market
No
See Ohio
Yes
State | Has SREC Market↓ | Latest Bid SREC-I 2025 | Latest Bid SREC-II 2025 | SREC Trade ( SREC- I) 2022 | Sol Systems (SREC- I) 2022 | Sol Systems (SREC- II) 2022 | SREC Trade ( SREC- II) 2022 | |
|---|---|---|---|---|---|---|---|---|
 | Delaware | Yes | $7 | |||||
 | District of Columbia | Yes | $383 | $370 | $330 | |||
 | Maryland | Yes | $53.25 | $59 | $55 | |||
 | Massachusetts | Yes | $230 | $332 | $315 | $276 | $260 | |
 | New Jersey | Yes | $25.25 | $233.50 | $215 | $85 | $85 | |
 | Ohio | Yes | $3.30 | $3.50 | $4 | |||
 | Pennsylvania | Yes | $22.95 | $42 | $40 | |||
 | Virginia | Yes | $45 | |||||
 | Indiana | See Ohio | ||||||
 | Kentucky | See Ohio | ||||||
 | Michigan | See Ohio | ||||||
 | West Virginia | See Ohio | $23 | |||||
 | Alabama | No | ||||||
 | Alaska | No | ||||||
 | Arizona | No | ||||||
 | Arkansas | No | ||||||
 | California | No | $6 | |||||
 | Colorado | No | ||||||
 | Connecticut | No | ||||||
 | Florida | No | ||||||
 | Georgia | No | ||||||
 | Hawaii | No | ||||||
 | Idaho | No | ||||||
 | Illinois | No | ||||||
 | Iowa | No | ||||||
 | Kansas | No | ||||||
 | Louisiana | No | ||||||
 | Maine | No | ||||||
 | Minnesota | No | ||||||
 | Mississippi | No | ||||||
 | Missouri | No | ||||||
 | Montana | No | ||||||
 | Nebraska | No | ||||||
 | Nevada | No | ||||||
 | New Hampshire | No | ||||||
 | New Mexico | No | ||||||
 | New York | No | ||||||
 | North Carolina | No | ||||||
 | North Dakota | No | ||||||
 | Oklahoma | No | ||||||
 | Oregon | No | ||||||
 | Rhode Island | No | ||||||
 | South Carolina | No | ||||||
 | South Dakota | No | ||||||
 | Tennessee | No | ||||||
 | Texas | No | ||||||
 | Utah | No | ||||||
 | Vermont | No | ||||||
 | Washington | No | ||||||
 | Wisconsin | No | ||||||
 | Wyoming | No |
- 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.
- Latest bid prices were taken from SRECTrade Market Prices in December 2025
Solar Renewable Energy Credit (SREC) A tradable certificate representing one megawatt-hour (MWh) of electricity generated from a solar energy system, used by utilities to meet renewable energy requirements.
SREC Market A state-regulated marketplace where solar producers can sell SRECs to utilities or brokers, with prices driven by supply, demand, and compliance rules.
SREC-I vs. SREC-II SREC-I refers to traditional market-priced credits, while SREC-II is a newer program in some states where credit values are fixed or administratively set rather than market-driven.
Interstate SREC Participation Some states do not operate their own SREC markets but allow qualifying solar systems to sell credits into a neighboring state’s market, most commonly Ohio.
States with Active SREC Markets and Highest Prices
Only a small group of states operate active SREC markets, but those that do often provide a meaningful financial boost for solar system owners. Among them, Washington, D.C. stands out clearly. With 2025 SREC-I bids near $383, D.C. has by far the most valuable SREC market in the country. That high price reflects strict renewable energy targets paired with limited space for large-scale solar projects—making each credit especially valuable.
Massachusetts also maintains a strong market, particularly under its SREC-II program, where credits trade at relatively high and more stable prices. Maryland and New Jersey fall into a middle tier, offering consistent—but lower—SREC values that can still materially improve solar payback periods.
At the lower end, Ohio and Pennsylvania operate active markets, but SREC prices there are much smaller, often in the single or low double digits. In these states, SRECs function more as a modest supplement rather than a primary driver of solar investment.
Overall, the data makes one thing clear: SREC value is driven more by state policy design than by solar output alone. Where credits are scarce and compliance rules are strict, prices rise accordingly.
States Without SREC Markets (and What That Means)
Most U.S. states do not operate an SREC market at all. For homeowners and solar developers in these states, that simply means solar incentives take a different form—not that solar is discouraged.
States such as California, Texas, Florida, New York, and Illinois rely on other tools to promote solar adoption, including net metering policies, utility rebates, tax credits, and direct renewable energy mandates. In these areas, the financial return from solar comes primarily from lower electricity bills rather than the sale of renewable credits.
A few states fall somewhere in between. Michigan, Indiana, Kentucky, and West Virginia, for example, do not have SREC markets of their own, but certain solar systems may qualify to sell credits into Ohio’s SREC market, depending on location and utility rules.
The key takeaway is that SRECs are just one policy lever. Their absence does not mean solar is uneconomic—it simply shifts where the value comes from. For many homeowners, stable savings on energy bills can matter more than participation in a volatile credit market.
