In some states, a solar renewable-energy certificate (SREC) is a credit issued for every 1,000 Kilowatt-hours (or 1 Megawatt-hour) of electricity generated by a solar PV system.
SRECs are part of the renewable portfolio standards (RPS) regulation. An RPS requires electricity suppliers to use renewable energy sources, including solar, to supply electricity. States with RPS use SREC programs as a way for electricity suppliers to acquire SRECs from PV system owners to meet solar electricity generation requirements.
A PV system owner can trade SRECs on the private market or use an SREC for compliance with a specified electricity supplier.
Companies like PowerDash provide services to track energy production used to create SRECs. For states with SREC programs, an Enphase Microinverter System equipped with a revenue-grade meter (RGM) can report energy production (link to how to configure a system) to PowerDash. PowerDash in turn, produces reports for the agency that verifies SREC compliance.
Because SRECs involve multiple agencies with strict reporting standards, PowerDash requires initial registration and configuration for system installers and maintainers with systems that are participating in an SREC program. Use the Third-Party Reporting feature in Enlighten and MyEnlighten to register in PowerDash and activate the PowerDash API. This allows PowerDash to receive production data from Enlighten to manage production data and SREC reporting.
For more information, refer to Bird, L.; Heeter, J.; Kreycik, C. (2011). “Solar Renewable Energy Certificate (SREC) Markets: Status and Trends.” 58 pp.; NREL Report No. TP-6A20-52868.