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Home > SREC Markets > California
California sets RPS standards for its utilities and electric service providers that can be met from a wide range of renewable technologies. Because the state does not include a dedicated solar carve-out in its RPS requirements, and limits the portion of compliance that can be met with unbundled RECs, California does not have a traditional SREC market.
However, California operates a robust Low Carbon Fuel Standard (LCFS) program, which effectively creates demand for SRECs generated by California-sited solar systems. Under LCFS rules, SRECs must be registered and retired through WREGIS and meet the associated specific metering and reporting requirements.
In this LCFS-driven market, the value of solar-generated RECs is influenced by the market price of LCFS credits, making REC revenues highly dynamic.
Markets for CA Systems
Tracking Registry
Energy Year
Eligible System Locations for LCFS RECs
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There is currently no solar carve-out in the CA RPS. Instead, solar is one of many eligible resources under California’s broader RPS.
Facilities must submit monthly meter readings via the Self-Reporting Interface within WREGIS.
Systems are eligible upon registration with WREGIS and CA.
There is no alternative compliance payment set for solar. The initial TREC price cap was set at $50.
TRECs can be traded for up to 3 years before a credit must be committed for RPS compliance.
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