DC SRECs are particularly special to Sol Systems because our company was founded in Washington, D.C. Thanks to our proximity to the market, Sol Systems has been active in the DC SREC program since its inception.
In 2011, the District of Columbia 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, the DC SREC program is the strongest in the country.
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 through 2023, after 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 Washington, D.C., 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 DC in Washington, D.C.that do not have a revenue grade solar meter are eligible for production estimates.
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).