Solar Renewable Energy Certificates (SRECs) are earned as your PV system produces electricity and represent the renewable energy attributes of the electricity. Retail electricity suppliers are required to purchase a certain amount of SRECs each year and they can be sold under the Massachusetts Department of Energy Resources (DOER) Solar Carve-Out II (SREC II) incentive program. To earn SRECs, the solar PV production must be reported to MassCEC's Production Tracking System (PTS). More information on the SREC II program can be found on DOER's website.
The SMART Program officially launched on November 26, 2018, marking the last day on which solar facilities in Massachusetts could qualify under the SREC II Program.