Solar Incentives and Financing in D.C.
Solar Incentives
What type of solar incentives are available?
Several types of incentives can help you go solar. This section covers the solar incentives available in the District, but you can learn more about the national context of solar incentives on our national solar incentives page.
D.C. SRECs
Solar Renewable Energy Credits (SRECs) are an incentive used to encourage solar adoption. The District has a valuable SREC market. SREC demand remains high due to the CleanEnergy DC Omnibus Amendment Act, which expanded D.C.’s renewable energy target to 100 percent by 2032. Included in this RPS (Renewable Portfolio Standard) was a 10 percent “carve out” for locally-based solar by 2041. In December 2022, Solar United Neighbors helped pass the Local Solar Expansion Amendment Act, which increased the local solar carve out to 15% by 2041!
You can find the most up-to-date SREC market prices and Alternative Compliance Payment (ACP) levels through 2041 at SRECTrade.com and on Flett Exchange. Our blog describes more about the ACP, which sets the ceiling for SREC prices. The blog also shows the current phase down schedule for the ACP.
Since SRECs are valuable in DC, many installers with their pricing will offer to buy a certain number of years of your SRECS (for example 5 years) for a certain amount off your purchase price up front when you go solar.
Discounted SREC Pricing
Solar United Neighbors has secured discounted SREC pricing for co-op participants and Solar United Neighbors Members (supporting, annual, and lifetime) based in D.C. Solar United Neighbors does not receive any financial compensation from these offerings and is currently pursuing additional SREC offerings with other brokers.
Current offerings:
- 50% discount on SREC brokerage fee
- Available for anyone using Solar United Neighbors programs and services
- Please contact Sol Systems for more information about this offering: info@solsystems.com
Solar Financing
D.C. PACE
D.C. does not have legislation that allows for residential Property Assessed Clean Energy (PACE) programs. However, commercial PACE is available. All commercial properties, including office space, multi-family, industrial, institutional, and retail properties, are eligible. The program is run by Urban Ingenuity on behalf of the District Department of Energy and the Environment. D.C. PACE offers 100 percent financing with up to a 20-year payback period. This financing applies to projects for energy efficiency, water, and renewable energy improvements to the property.
D.C. Green Bank
CLEER: Also known as Commercial Loan for Energy Efficiency and Renewables Program, this program provides clean energy possibilities for projects in existing buildings in the District. The program has financed projects with upwards of $2 million in funding, resulting in energy savings for customers of over $80,000. Find out more here.
Navigator: The Navigator loan funds customized energy improvement designs for new and existing commercial & multifamily properties. The program adopts an unsecured line of credit model and allows residents to pursue energy-efficient upgrades with great ease. Find out more here.