---
title: Virginia SRECs 101
description: Virginia has an active SREC market created under the Virginia Clean Economy Act. Eligible solar systems can generate and sell SRECs, which utilities must purchase to meet state renewable energy requirements.
---
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# Virginia SRECs 101
## Virginia has an active SREC market created under the Virginia Clean Economy Act. Eligible solar systems can generate and sell SRECs, which utilities must purchase to meet state renewable energy requirements.
#### **How Virginia’s SREC Program Works**
Virginia’s Renewable Portfolio Standard (RPS) requires utilities to source increasing amounts of renewable energy:
- **Dominion Energy:** 100% renewable electricity by **2045**
- **Appalachian Power:** 100% renewable electricity by **2050**
Each year, Dominion must meet at least **1% of its requirement** using distributed solar, wind, or anaerobic digestion resources.
Utilities that fail to procure enough Virginia-based RECs must pay a **deficiency payment**, which:
- Starts at **$75 per MWh**
- Increases **1% annually** through 2050
#### **SREC Eligibility & Lifespan**
- Virginia SREC eligibility begins on the system’s **interconnection date**
- Systems must be registered in **GATS within the same calendar year**
- SRECs can be sold for up to **five (5) calendar years** after creation
#### **Registration Requirements**
To register a system, customers must provide:
- A **signed interconnection agreement**
- A **signed Sol Systems contract**
Additional requirements:
- The system must have a **revenue-grade meter**
- Sol Systems registers the system with **GATS**, which issues SRECs
- **No registration fee** is charged by Sol Systems
#### **Payment Timeline**
Sol Systems makes payments to **Sol Annuity** and **Sol Brokerage** customers on a **monthly basis**, according to the published payment schedule.
- [FAQs](https://help.srecs.solsystems.com/faqs?hsLang=en-us)
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- [SREC Basics](https://help.srecs.solsystems.com/srec-basics?hsLang=en-us)
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