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Solar panels. Solar power in Maryland is supported by the state's legislation regarding the Renewable Portfolio Standard and Solar Renewable Energy Credit (SREC) program. The target for renewable energy as of 2017 is 20% by 2020, including 2% from solar power.
Solar Renewable Energy Certificates (SRECs) or Solar Renewable Energy Credits, are a form of Renewable Energy Certificate or "green tag" existing in the United States of America. SRECs exist in states that have Renewable Portfolio Standard (RPS) legislation with specific requirements for solar energy, usually referred to as a "solar carve-out". [1]
Solar renewable energy certificates or SRECs, for example, tend to be more valuable in the 16 states that have set aside a portion of the RPS specifically for solar energy. [9] This differentiation is intended to promote diversity in the renewable energy mix which in an undifferentiated, competitive REC market, favors the economics and scale ...
In the 50 years the Maryland Energy Administration has existed, being tasked with ensuring a future of green energy has required the state to examine how even underserved communities can benefit.
As of November 2010, a report to the Prince George’s County Solar Water Heating Task Force indicated that Flett Exchange is the only exchange-based marketplace for Maryland SRECs. However, the value had still been limited due to low transaction levels.
Those who install residential solar panels or solar battery systems (with at least 3 kilowatt-hours of capacity) will qualify for a 30% tax credit for installations until Dec. 31, 2034.