Washington, D.C.’s SREC market is particularly special to Sol Systems because our company was founded in the District. Thanks to our proximity to the market, Sol Systems has been active in D.C.’s SREC program since its inception.
In 2011, D.C. closed its borders to out-of-state solar energy systems, which has prevented the market from oversupply. In 2018, the D.C. Council voted to increase the District’s renewable portfolio standard to 100% by 2032. As a result of these two actions, D.C.’s SREC program in the country.
We offer Sol Annuity, Sol Combo, Sol Upfront, and Sol Brokerage contracts in the Washington, D.C. market. You can learn more about our our contract options here. Contract options and pricing are subject to change on a monthly basis.
Solar installers interested in receiving up-to-date monthly pricing can subscribe to our Sol Circuit newsletter by visiting our contact us page.
|January 2020 Contract Options|
|Sol Annuity 3||3-year fixed rate||$390/SREC|
|Sol Annuity 5||5-year fixed rate||$355/SREC|
|Sol Combo 10||10-year fixed rate||$375/SREC for 3 years|
|$190/SREC for 7 years|
|Sol Upfront 15||One time, lump sum in exchange for 15 years of SRECs||$1,400/kWdc|
|Sol Brokerage||Market rate (commission fee greater of $5 or 5%)||Current price: $429/SREC|
Washington D.C.’s Renewable Portfolio Standard
- D.C.’s renewable portfolio standard (RPS) requires that 100% of the District’s electricity be sourced from renewable energy by 2032 and 10% from solar energy by 2041.
- The solar alternative compliance payment (SACP), the penalty fee levied on compliance buyers who do not meet the District’s solar target, is currently set at $500 per megawatt hour (1000 kWh) and will remain at this level until 2023, at which point it decreases to $400 until 2028 and then $300 through to 2041, after which it levels out at $100.
- SRECs up to three years old can be sold in Washington, D.C. Therefore, customers who have registered their system on their own or through an aggregator will still be able to sell their SRECs, provided they were minted in the last three years.
- If you’d like to learn more about D.C.’s RPS you can visit the DC Public Service Commission’s (PSC) website.
- Customers must submit copy of their signed interconnection agreement and a signed contract before we can register the solar energy system.
- Upon receipt of all documentation, Sol Systems will register a customer’s solar energy system with the D.C. Public Service Commission and the Generation Attribute Tracking System (GATS), the regulatory body that mints SRECs.
- Sol Systems does not charge a registration fee.
- In the District of Columbia, SREC eligibility dates back to the solar energy system’s interconnection date, so long as the system’s registration is submitted to the district within that same calendar year. Systems not submitted for registration within the same calendar year will be eligible for SRECs in January of the year in which they are registered.
- For example, a solar energy system interconnected in June 2017 and registered in October 2017 will receive credit back to June 2017; a system interconnected in June 2017 but registered in February 2018 will be eligible back to January 1, 2018, the beginning of the calendar year.
- Systems smaller than 10kW DC in D.C. that do not have a revenue grade solar meter have production estimated by GATS with a tool called PV Watts. Systems that are larger than 10kW DC are required to have a dedicated revenue grade solar meter, and generation data must be reported from this meter.
- Both solar thermal and photovoltaic technologies are eligible for SRECs.
SRECs are processed by GATS, the Generation Attribute Tracking System, on a delayed basis. Additionally, our trading team does need some time to find buyers for your SRECs, especially when looking for the most competitive price. For these reasons, Sol Systems makes payments on a quarterly basis according to the following schedule.
|Generation Quarter||SREC Payment|
|Q1: January, February, and March||May|
|Q2: April, May, and June||August|
|Q3: July, August, and September||November|
|Q4: October, November, and December||February|
For example, customers whose energy production passes a 1000 kWh threshold in Quarter 1 (January-March), will receive their Annuity or Combo payment on the last business day in May. Brokerage customers will also receive payment in May if their SRECs are sold ahead of the May payment.
Sol Systems customers can receive their payment via check or an Electronic Funds Transfer through an Automated Clearing House (direct deposit).