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Solar Renewable Energy Certificates (SRECs) are a key financial incentive for solar energy system owners in Virginia. Each SREC represents 1 megawatt-hour of solar electricity produced and can be sold to utility companies needing to meet renewable energy mandates under the Virginia Clean Economy Act (VCEA). This act sets ambitious goals for increasing the state's solar capacity, driving demand for SRECs in the VA solar market.
Solar owners can earn additional income by trading SRECs on platforms like SRECTrade, while also contributing to the state's renewable energy targets. With SREC prices ranging between $34.50 and $43.00, this system provides a lucrative opportunity for solar investors. Understanding how to generate and sell SRECs can help solar owners maximize their return on investment.
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