Virginia
How do SRECs work?
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About SRECs in
Virginia
$40
Example: If a credit is generated July 2024, how long before it expires?
Monthly with one month delay in payment
For example, a system operational in November 2021 that did not submit its application until February 2022 would only receive credit from January 1, 2022 onward.
Solar
SREC Program Details in
Virginia
A new Renewable Portfolio Standard (RPS) requires Dominion and Appalachian Power Company (APCo) service territories to include Solar as primary renewable energy. A primary component of the VCEA is that 1% of Dominion’s RPS compliance obligation must come from in-state distributed generation solar resources (DG) smaller than 1 MW in nameplate capacity. By 2030, approximately 250 MW of solar will be added.
A system’s eligibility to start generating SRECs is based on the system’s online date, otherwise known as the Interconnection Date. A system that is not registered in the same year as its online date can generate RECs back to the beginning of the calendar year of registration.
All systems, including both residential and commercial sizes, are required to measure generator output with a revenue-grade meter (RGM) which must meet the ANSI C-12 standard. VA systems that do not qualify in VA are still eligible for the Pennsylvania Tier 1 REC market.
