Market based vs. fixed price.SREC values ranged between the Alternative Compliance Payment of $248 for 2021 (the fine that energy companies had to pay if they did not buy SRECs) and $0. Prices typically traded at 80% to 90% of that level in the spot market and most recently $223 as of summer 2020. SREC values also traded by long-term contracts by willing counterparties in which the buyer was typically one of the large energy suppliers in New Jersey. A long-term chart for spot SREC prices can be found HERE. TRECs are a fixed value of $91.20 for homes and $152 for commercial rooftop. (Remember, the value of a TREC was set by Board Order – there is no contract.)
Length of time a solar array will earn credits.TRECs are earned for 15 years. SRECs are also earned for 15 years if you installed before November of 2018. SRECs are earned for ten years if you installed between November of 2018 and the end of the program in the spring of 2020.
SRECs were all the same price no matter what type of solar you installed.For example, solar on a house earned the same SREC value as solar on a school. TRECs have different values. TREC values differ based on where the array is located and also if it is a community solar array. Your TREC value for your specific array is based on $152 multiplied by the factor assigned to your array type. Click here for a chart depicting all of the types of solar arrays and TREC values: TREC ARRAYS AND VALUES