Maryland SREC Prices: 2024 and Beyond

Turn your solar investment into extra cash with Currents, the fastest-growing SREC aggregator. Sign up today to effortlessly generate and sell your SRECs, maximizing your solar panel's financial benefits with our hassle-free platform.

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Maryland SREC price: 2024 update

Maryland's Solar Renewable Energy Credit (SREC) program has recently undergone significant changes, offering new opportunities for homeowners interested in solar energy.

The updated program introduces a 1.5x multiplier for Certified SRECs, making them more valuable than the previous Legacy MD SRECs.

This change is set to benefit homeowners with solar systems installed after July 1, 2024, as they will start generating these higher-value SRECs from January 1, 2025.

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Senate Bill 783 Passes April 2024

This bill passed in April 2024, which increased the volume of SRECs per MWh generated for qualifying projects while improving tax incentives.

The bill includes these provisions:

1. Certain solar projects will receive a 1.5x multiplier for SRECs generated (the prior version of the bill provided for up to 2x).
2. To qualify, projects must be placed in service between July 1st of this year and January 1, 2028, and installed either on a rooftop, carport, or brownfield.
3. The expiration period for SRECs increased from 3 years to 5 years.
4. The bill creates a valuation and property tax exemption for non-residential solar projects installed on rooftops, or on carports in parking lots.

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Increased Maryland SREC Value

The new multiplier means that homeowners can earn 1.5 times the value for each SREC generated, significantly enhancing the financial returns from solar investments.

This increase aligns with Maryland's legislative efforts to boost renewable energy adoption by improving tax incentives and SREC values.

Current Maryland SREC Prices: $58

2025 Maryland SREC Prices: $87

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Turn your solar investment into extra cash with Currents, the fastest-growing SREC aggregator. Sign up today to effortlessly generate and sell your SRECs, maximizing your solar panel's financial benefits with our hassle-free platform.

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How to Get Started with MD SRECs

Homeowners interested in this opportunity should consider contacting Currents.

As a neutral third party, Currents offers unbiased advice and can connect homeowners with the SREC market and start payments in no time.

Our goal is to facilitate more SREC transactions without being involved in the installation process, ensuring that homeowners receive the best possible guidance.

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More Financial Incentives and Support

In addition to the increased SREC value, homeowners can take advantage of several financial incentives.

The Federal Investment Tax Credit remains a substantial benefit, and the Maryland FY2025 Solar Access Program offers grants of $750 per kilowatt, capped at $7,500, for low to moderate-income residents.

These incentives, combined with the higher SREC value, make solar installations more accessible and financially rewarding.

In summary, the new Maryland SREC program, with its 1.5x multiplier, presents a lucrative opportunity for homeowners to invest in solar energy. By leveraging available incentives and using financial planning tools, residents can maximize their returns while contributing to Maryland's renewable energy goals.

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