Why SREC markets look so different from state to state
A patchwork, not a national program
Unlike the federal tax credit, SREC markets exist entirely at the state level, created by individual renewable portfolio standards rather than any federal law. That's why only a handful of states have them at all, and why the ones that do vary so dramatically in price. There's no equivalent national baseline to compare against. Before you count on any incentive, check the DSIRE database of state incentives for your state's current programs.
DC's outlier pricing explained
Washington DC's combination of an aggressive renewable target, a small geographic area, and a solar-specific carve-out within its portfolio standard keeps demand for certificates consistently ahead of supply. That scarcity is why its SREC prices sit well above every other market on this table, often exceeding $300 per certificate. A homeowner just across the district line in Maryland or Virginia does not have access to DC's market rate. Project your full-term income with the SREC value estimator once you know your applicable price.
Massachusetts moved to a different model entirely
Massachusetts closed its original SREC program to new applicants in 2018, replacing it with SMART, now in its SMART 3.0 iteration as of 2025. Rather than tradable certificates with a fluctuating market price, SMART pays a fixed rate per kilowatt-hour produced, reviewed periodically by the state. It fills a similar financial role but works mechanically differently, which is why it's covered by the performance based incentive calculator instead of this comparison table.
Out-of-state eligibility is sometimes possible
Homeowners in parts of Michigan, Indiana, Kentucky, and West Virginia may be able to sell certificates into Ohio's market depending on their utility and exact location, despite living in a state without an SREC program of its own. This is worth checking with a registered broker if you're near a state border, since it's easy to assume no market exists when one might actually be accessible. Check the rebates and incentives hub for your state's other available programs regardless.
If you borrow for the rest of the system, the combined loan and rebate timing tool takes your rebate total and works out the monthly payment on the balance. If you may qualify for low-income solar programs beyond what's covered here, the community solar for low-income households tool is worth checking too.