The Maryland SREC program is designed to help finance solar systems throughout the state to satisfy the renewable energy goals of the state. The state has regulations that require electricity suppliers to purchase SRECs to meet annually increasing demand.
Under current legislation, the demand for SRECs peaks at 2.0% of electricity in 2020 and the program requires compliance by the utilities until 2024.
SREC prices are determined by market forces. There is also a state imposed maximum price that is currently $350 (calendar year 2016), and will drop to $50 by 2023. Prices will only reach these levels if there is more demand than supply.
Knollwood Energy has many different options to monetize your SRECs, so contact us so we can design an SREC program that is right for you.