Virginia SRECS

Announcing Virginia SRECs! – Majeski Solar Energy

Virgnia SRECS: Thanks to the Virginia Clean Economy Act passed in 2020 Virginia now has an SREC market. Current value is $30-60 per SREC with broker options.

What Are Virginia SRECS?

The Virginia SRECS market is the newest in the country, after the passage of the Virginia Clean Economy Act (VCEA) and the creation of the Virginia RPS in 2020. RPS compliance is mandated for two of the state’s utilities, Dominion Energy and Appalachian Power Co., which requires the utilities to procure Sell Your Pennsylvania SRECs100% renewable energy by 2045 and 2050 respectively.

Do Virginia SRECS Have An Expiration Date?

SRECs can be sold for up to five calendar years after their date of creation in Virginia. Therefore, customers with GATS-registered systems who generate an SREC today will be able to sell their SREC up until the end of 2026.

Virginia SRECS: Incentives for Virginia Solar Owners

In Virginia, utilities have to meet certain sustainability requirements. They do this by purchasing credits from people like you who are producing solar energy. Solar owners sell their Solar Renewable Energy Credits (SRECs), which can help them pay off system costs more quickly.

Virginia SRECs Options For Solar Owners

The value of SRECs can change frequently. Several factors influence SREC prices, including policy initiatives and supply and demand. The best way to get the most up-to-date price is to contact an SREC broker and discuss your options.

Virginia SRECS and Worth There Worth In 2022

The current price ceiling is set to $75 per SREC for residential and small commercial systems (1,000 Kilowatts or less). That means $75 is the maximum price you can get. However, as of July 2022, pricing swung between $20 and $40 per SREC.