Since 2008, Maryland SRECs have been one of the most stable SREC markets in the country. However, in early 2016, the market took a turn, and SREC prices fell drastically. This drastic decrease in price for Maryland SRECs was caused by an oversupply of SRECs in the market compared to the modest demand for solar in the state’s renewable portfolio standard (RPS).
In 2019, Maryland passed a 50% RPS by 2030 and doubled the mandate for solar. Prices have rebounded since in the Maryland SREC market.
Maryland’s Renewable Portfolio Standard
- Maryland’s renewable portfolio standard (RPS) requires that 50% of the state’s electricity be sourced from renewable energy by 2030 with a 14.5% carve-out specifically for solar energy.
- If you’d like to learn more about Maryland’s RPS you can visit the Maryland Public Service Commission’s website.
Registration Guidelines
- Customers must submit copy of their signed interconnection agreement and a signed contract before we can register the system.
- Upon receipt of all documentation, Sol Systems will register a customer’s solar energy system with the Maryland 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 Maryland, SREC eligibility dates back to the solar energy system’s interconnection date, so long as the system’s registration is submitted to the state within that same calendar year.
- Systems smaller than 10kW AC in Maryland that do not have a revenue grade solar meter are eligible for production estimates.
Payment Timeline
Sol Systems makes payments to Sol Annuity, Sol Brokerage, Sol Combo, and Sol Profit Share customers 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, Sol Systems will issue payments to Sol Annuity or Sol Combo customers whose energy production passes a 1000 kWh threshold in Quarter 1 (January-March) on the last business day in May. Sol Brokerage customers will also receive payment in May if Sol Systems is able to secure a competitive pricing ahead of the May payment cycle.
Sol Systems customers can receive their payment via paper check or direct deposit.