North Carolina is a brand new market for the exchange of SRECs. There are no restrictions on selling North Carolina SRECs to eligible states in the PJM network. North Carolina has a Renewable Portfolio Standard mandated by the state, with a specific carve-out for solar energy. 12.5% of all energy sold by suppliers must be from renewables by 2021, with 0.20% of that coming from solar energy.
Utilities are required to provide the above portions of electricity from solar sources. Your SRECs help the utilities to reach this minimum threshold. Normally, if they do not reach the threshold, they are forced to pay a Solar Alternative Compliance Payment (SACP). The state of North Carolina has not yet determined what the price of their SACP will be. When this is decided, the price of SRECs will respond. For now, the price will be around the regional average, $200-$250.
Getting Started in North Carolina
Talk to your installer to get your PV installation certified in North Carolina and other states where it is eligible. Once you have these state certification numbers, we’ll be able to help you establish an account and manage your SRECs. We’ll cross-list your SRECs on our multi-state auction platform every month to make sure you get the best price for your SRECs. Alternatively, if you choose to manage your own SRECs, you would need to register with the appropriate state SREC agency. After that you can choose to sell your SRECs month-to-month on SRECTrade.com.