North Carolina Market Details

Market Overview

North Carolina accepts SREC registrations from facilities sited in all 50 states. The NC SREC Market is a voluntary market where prices are determined by market forces. They use the NC-RETS and PAT-I Registries. 

North Carolina Renewable Energy Tracking System (NC-RETS)

The North Carolina Utilities Commission established the North Carolina Renewable Energy Tracking System (NC-RETS) to issue and track renewable energy certificates (RECs) and energy efficiency certificates (EECs). N.C.’s electric utilities use NC-RETS to demonstrate compliance with the State’s renewable energy portfolio standard. Renewable energy producers may register their facilities with the Commission. If approved, they can use NC-RETS to create RECs that meet the requirements of N.C.’s portfolio standard.

NC-RETS uses verifiable energy production data from participating facilities to create a digital certificate for each MWh (or thermal equivalent) generated from renewable energy. Electric power suppliers use NC-RETS to track the results of their energy efficiency and demand-side management customer programs. NC-RETS and all related energy production and customer program records are audited by the Public Staff of the North Carolina Utilities Commission. NC-RETS will integrate with all other renewable energy certificate tracking systems in the United States to allow for the import and export of RECs to and from North Carolina.

Other State Market Eligibility

NC-sited systems are also eligible for the Pennsylvania Tier I (PATI) market. The Pennsylvania Tier I (PAT1) Market is an open market where market forces determine prices. Key factors include the Alternative Compliance Penalty and supply and demand based on the Renewable Portfolio Standard (RPS). This is a subsection of the Pennsylvania SREC Market open for all eligible systems located in the PJM Grid, which include all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Tennessee, Virginia, West Virginia and the District of Columbia.

CSG will register your system in the highest-priced market that your system is eligible to receive.

ACP and Market Trend

The PAT1 Market is ever changing which is reflective in the pricing for RECs. The market has been trended up throughout the 2022 energy year. The Solar Alternative Compliance Payment (SACP) is set by the RPS and can be viewed as a soft benchmark for what the REC will be valued at. The SACP (or ACP) is a fee imposed on utilities and mandated purchasers for shortfalls in REC procurement.

The Alternative Compliance Payment (ACP) for Tier I  is $45/SREC.  

Retroactivity / Eligibility Start Date

Facilities on estimates will earn credit beginning with the first full month following application submission to the PennAEPS.

REC Shelf Life

PA SRECs have a shelf life of 3 years.  Example: A SREC generated in 2022 can be counted towards the 2022, 2023, or 2024 compliance periods.

SREC Crash Course: The Basics

Frequently Asked Questions

Payment Options