SRECs
Virginia SRECs, Explained
Your solar array creates one renewable energy certificate for every 1,000 kWh it produces, and Virginia law says the homeowner owns it. Utilities need certificates from small in-state solar to meet the Virginia Clean Economy Act, so they buy them.
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Answer first
The short answer
A Virginia SREC is a certificate for 1,000 kWh (one megawatt-hour) of solar production. Under Virginia's net metering statutes the customer who owns the array owns the certificates, and the State Corporation Commission's April 30, 2026 order confirmed Dominion does not own them. A 10 kW array modeled at about 12,500 kWh a year creates about 12 SRECs a year, which you sell through a broker at the market price for that vintage.
- Demand comes from the Virginia Clean Economy Act, which requires Dominion to meet part of its renewable requirement with in-state solar of 1 megawatt or less.
- Prices move by vintage and by month; check a live board before you count on a number.
- Treat SRECs as income on top of the bill savings, not the reason to buy.
Why a Virginia SREC has value
The Virginia Clean Economy Act sets a renewable portfolio standard for Dominion, which the statute calls a Phase II utility. Inside that standard is a carve-out: Dominion must meet 4.5 percent of its renewable requirement for the 2026 through 2030 compliance years, and 5 percent for 2031 through 2045, with solar, wind, or anaerobic digestion resources of one megawatt or less located in Virginia. A quarter of that carve-out has to come from low-income qualifying projects.
A home rooftop array is exactly that kind of resource. Every certificate it creates can count toward the carve-out, which is why brokers buy residential SRECs and resell them to the utilities and suppliers that need them.
Who owns the certificates
You do, if you own the array. Code of Virginia 56-594 says the eligible customer-generator owns any renewable energy certificates associated with its generating facility, and 56-594.01 says the same for co-op members. In the 2026 net metering case, the Commission recognized that Dominion does not own the certificates created by customer generators and denied Dominion's request to count customer exports against its own renewable obligation.
A lease or power purchase agreement changes the answer. When a company owns the equipment on your roof, the contract decides who keeps the certificates, and most leases keep them for the company. Read that clause before you sign.
NOVEC members have one extra option. Under NOVEC's net metering rider, a member can make a one-time election, at the time the power purchase agreement is signed, to sell all of the array's certificates to NOVEC for the length of that agreement at a rate set under the SCC's rules.
What a year of SRECs is worth
The count is simple math on a modeled estimate. A 10 kW array modeled at about 12,500 kWh a year creates about 12 certificates. The value is that count times the price for the certificate's vintage year when it sells, less the broker's share.
Prices move. Brokers publish Virginia prices by vintage, and the board changes through the year as utilities buy for their compliance deadlines. The Fairfax County incentives guide works a dated example; for a current number, check a live board such as Flett Exchange on the day you sell.
| Array size | Modeled annual production | Modeled SRECs per year |
|---|---|---|
| 8 kW | About 10,000 kWh | About 10 |
| 10 kW | About 12,500 kWh | About 12 |
| 12 kW | About 15,000 kWh | About 15 |
Modeled estimate at about 1,250 kWh per kW per year for a typical Northern Virginia roof. Shade and orientation change the real number.
How to register and sell
Keep the certificates with the house when you sell by writing it into the sale, or transfer the broker account to the buyer. A buyer who takes over the system takes over the production.
- 01
Finish the installation and get permission to operate
Certificates start with production after the utility authorizes the system to run.
- 02
Choose a broker or aggregator
The broker registers the system, collects the production data it accepts, and sells the certificates as they are created.
- 03
Confirm how production is measured
A net meter only records what flows back to the grid. On NOVEC, any added meter needed to measure total output for certificates is at the member's expense unless otherwise negotiated.
- 04
Sell by vintage
Each certificate carries the year it was created. Decide whether to sell as they come in or on a contract price.
Straight answers
Questions
- What is a Virginia SREC?
- A certificate for 1,000 kWh of solar production. The owner of a Virginia rooftop array owns the certificates it creates and can sell them through a broker.
- How many SRECs will my solar panels make?
- One per 1,000 kWh. A 10 kW array modeled at about 12,500 kWh a year makes about 12 a year. Shade and orientation change the real count.
- Did Dominion take ownership of customer SRECs in 2026?
- No. The SCC's April 30, 2026 order recognized that Dominion does not own the certificates created by customer generators.
- Do I keep my SRECs with a solar lease?
- Usually not. The lease or power purchase agreement decides who keeps them, and most leasing companies keep them. Read that clause before signing.
Sources
- Code of Virginia 56-585.5, Virginia Clean Economy Act renewable portfolio standard
- Code of Virginia 56-594, Net energy metering provisions
- Code of Virginia 56-594.01, Net energy metering provisions for electric cooperative service territories
- Virginia State Corporation Commission, Case PUR-2025-00079, Final Order (April 30, 2026)
- NOVEC, Schedule NEM-10 Net Energy Metering Rider
- Flett Exchange, Virginia SREC market prices
Next step
Size the array to your bill, then count the certificates
Send a recent electric bill and the address. The free quote shows the modeled production and the modeled SREC count next to the cash price.
Solar energy company
AJ Long Electric Solar
AJ Long Electric
7138 Little River Turnpike #305
Annandale, VA 22003
Serving Annandale, Fairfax County, and Northern Virginia.