Maryland SREC Market
Maryland should see a robust spot market because long-term contracts are difficult to come by. One of the state's initial requirements is that a solar generator first list their SRECs for sale on the Maryland PSC's website for 15 year contracts available to LSEs. If the facility is under 10 kW, any potential buyer must pay for the SRECs up front. Despite this requirement there are no buyers willing to enter into these contracts. The utilities are averse to locking in energy prices because of the exposure to price volatility and seem very willing to simply pay the SACP. Two factors that also affect the Maryland market are that it is closed to in-state solar generators and the RPS seems aggressive enough that MD SRECs will maintain value over time.
Pricing:
SREC Auction - History of auction closing prices
Long Term Forwards Contracts - Information on long term contracts for MD SRECs
Prepaid SREC Contracts - Information on prepaid contracts for MD SRECs
Other states in which Maryland facilities are eligible:
District of Columbia
Pennsylvania
States Eligible for MD Market: MD
Energy Year: January 1 to December 31
Tracking Platform: GATS
SREC Useful Life: 3 years - a 2010 SREC can be counted towards the 2010, 2011 or 2012 RPS
Solar Requirement: Reaching 2.00% of total electricty generated in 2021
SACP: $400 through 2014, declining after.
Meter Reading: Facilities less than 10 kW may use estimated generation based on the PV Watts calculator. All other facilities must repoort monthly meter readings.
Eligibility Begins: Upon date of interconnection.
| Energy Year |
RPS Solar Requirement |
Projected SRECs Required (MWh) |
Projected Capacity Required (MW) |
SACP |
| 2009 |
0.01% |
6,700 |
6 |
$400 |
| 2010 |
0.03% |
17,000 |
15 |
$400 |
| 2011 |
0.05% |
34,000 |
30 |
$400 |
| 2012 |
0.10% |
70,000 |
60 |
$400 |
| 2013 |
0.20% |
140,000 |
120 |
$400 |
| 2014 |
0.30% |
220,000 |
180 |
$400 |
| 2015 |
0.40% |
295,000 |
245 |
$350 |
| 2016 |
0.50% |
375,000 |
315 |
$350 |
| 2017 |
0.55% |
420,000 |
350 |
$200 |
| 2018 |
0.90% |
695,000 |
580 |
$200 |
| 2019 |
1.20% |
940,000 |
780 |
$150 |
| 2020 |
1.50% |
1,190,000 |
990 |
$150 |
| 2021 |
1.85% |
1,490,000 |
1,240 |
$100 |
| 2022 |
2.00% |
1,635,000 |
1,360 |
$100 |
| 2023 |
2.00% |
1,650,000 |
1,380 |
$50 |
Useful Links:
Maryland Client Forms - All the forms necessary to sign up for SRECTrade's EasyREC service
New to Solar? - Getting Started - The nuts and bolts of getting started generating and selling SRECs
Maryland Blog - Starting point for useful information regarding the Maryland SREC market
Registering in Maryland - Application details from the Maryland PSC
Cross-Listing your SRECs - Cross-Registering your system outside Maryland
DSIRE: Maryland RPS - Details on the Renewable Portfolio Standard
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