Maryland

Maryland has long been a proactive state with aggressive SREC requirements. The state established its SREC market in 2008, creating stable pricing and driving solar development through 2014. However, as solar capacity grew, the SREC market became oversupplied. In response, the legislature increased the RPS standards in 2017, including expanding the solar carve-out and lowering the SACP, to strengthen long-term SREC demand.

Despite these adjustments, SREC values remained low due to the low SACP, reducing financial incentives for additional solar development. To address these challenges that were contributing to low solar capacity not meeting the RPS goals, the legislature passed the Brighter Tomorrow Act in 2024, designed to reinvigorate in-state solar development. The Act introduced a 1.5x SREC multiplier for systems that meet certification eligibility requirements: generating capacity of 5 MW or less, placed in service between July 1, 2024 and January 1, 2028, and located on a rooftop, parking canopy, or a brownfield site within Maryland.

Only Maryland-sited facilities may participate in the state's SREC program, and certain Maryland-sited solar water heating systems are eligible.

Additionally, Maryland -sited solar systems in PJM Territory are eligible to participate in the Pennsylvania Tier-I REC market and the Virginia REC Market.

Details for MD Systems