Guide to SRECs in Massachusetts

Discover how to profit from SRECs in Massachusetts! Your guide to selling solar credits for extra cash.

Last updated
June 30, 2024
Author: Matt from Currents
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Solar Renewable Energy Credits (SRECs) are tradable commodities that represent the environmental benefits of generating electricity from solar energy.

For every megawatt-hour (MWh) of electricity your solar system produces, you earn one SREC. These credits can be sold to utility companies and other entities that need to meet renewable energy requirements. By selling SRECs, you can offset the initial costs of installing a solar system, making solar power a more viable and attractive option.

SRECs in Massachusetts

In Massachusetts, Solar Renewable Energy Credits (SRECs) play a significant role in promoting solar energy adoption.

Massachusetts has established a robust SREC market to encourage residents and businesses to invest in solar energy. The state mandates that utility companies and other electricity suppliers procure a certain percentage of their power from renewable sources. SRECs help meet these requirements, creating a market where solar panel owners can sell their credits.

How to Participate in the SREC Program in Massachusetts

To participate in the SREC program in Massachusetts, you need to follow several steps. First, ensure that your solar PV system is eligible for generating SRECs by meeting the state's requirements. Your system should be installed by a qualified professional and comply with local and state regulations.

Steps to Participate:

  1. Register Your System: Register your solar PV system with the Massachusetts Clean Energy Center (MassCEC). This step includes providing details about your system, such as its location, capacity, and installation date.
  2. Obtain Certification: After registration, obtain certification from the Massachusetts Department of Energy Resources (DOER). Certification verifies that your system meets the necessary standards to generate SRECs.
  3. Monitor and Report Production: Install a revenue-grade meter to accurately measure the electricity generated by your system. Regularly report this data to the DOER or a third-party aggregator, who will then issue SRECs based on your system's production.
  4. Sell Your SRECs: Once you have accumulated SRECs, you can sell them in the Massachusetts SREC market. You can choose to sell your SRECs through Currents to maximize the value and get deeper insights on your home energy use

Estimated Earnings from SRECs

The value of SRECs can vary based on market conditions and demand.

At the time of this writing, SRECs in MA are around $175 per credit.

Participating in the SREC program not only provides financial benefits but also contributes to the state's renewable energy goals. For more information on SREC programs in other states, you can explore srec virginia, srec nj, and srec maryland. Additionally, understanding the value of SRECs in different markets can be helpful; refer to pa srec prices, nj srec price, and dc srec prices for more details.

Earn passive income selling your solar credits.

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