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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.

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