SRECs and Solar Incentive Programs: Are You Getting Paid for Your Energy?
If you own your solar system outright — through a cash purchase, solar loan, or prepaid lease — you may be eligible for ongoing financial incentives beyond the panels themselves. Several states in Venture Home's service area have programs that pay solar owners for the clean energy their systems produce.
Here's what's available and what you need to know.
What Is an REC or SREC?
A Renewable Energy Credit (REC) — sometimes called a Solar Renewable Energy Credit (SREC) — is a tradable certificate representing one megawatt-hour (MWh) of solar electricity your system produces.
Utilities in certain states are required by law to source a portion of their power from renewable energy, and they meet this requirement by purchasing RECs from homeowners like you.
Depending on the state and current market conditions, these credits can represent meaningful ongoing value. Your system may generate several RECs per year.
Am I Eligible?
REC programs are available to customers with customer-owned systems:
- ✅ Cash purchases
- ✅ Solar loans
- ✅ Prepaid leases
If you have a standard monthly lease or PPA, the finance company that owns your system typically retains the REC rights. Check your agreement or contact us if you're unsure.
Venture Home Handles Registration for All Eligible Customers
For all states and programs listed below, Venture Home coordinates registration and enrollment on your behalf. You don't need to initiate anything.
What you'll receive:
- An email asking you to complete your portion of the sign-up
- This typically involves verifying your identity, confirming your address, or creating an account with the relevant registry or program administrator
Important: Keep an eye out for that email and complete it promptly, as delays can hold up your registration and any credits that accrue in the meantime.
By State
Maine, New Hampshire, Massachusetts, Rhode Island
These states use the NEPOOL-GIS Class 1 Renewable Energy Credit program.
- System registered through: New England Power Pool Generation Information System
- What Venture Home does: Coordinates registration
- What you do: Complete sign-up when notified
Massachusetts — Additional Program
In addition to NEPOOL RECs, Massachusetts customers may be enrolled in the SMART program (Solar Massachusetts Renewable Target):
- Pays: Fixed rate per kWh your system produces
- Duration: 10 years
- Payment method: Directly by your utility on your monthly bill
- Enrollment: Handled at time of interconnection
Rhode Island — Additional Program
In addition to NEPOOL RECs, Rhode Island customers may be enrolled in the REG program (Renewable Energy Growth):
- Provides: Fixed per-kWh payment
- Duration: Set term
- Coordination: With your utility at time of interconnection
New Jersey
New Jersey operates the TREC program (Transition Renewable Energy Certificate).
- System registered with: New Jersey Clean Energy Program
- What Venture Home does: Handles registration
- What you do: Complete sign-up when notified
Maryland
Maryland has an active SREC market.
- Systems registered through: PJM-GATS registry
- What Venture Home does: Handles registration
- What you do: Complete sign-up when notified
Pennsylvania and Delaware
Both states participate in the PJM-GATS SREC market.
- What Venture Home does: Handles registration
- Note: Market prices in these states vary — contact our Customer Success team if you have questions about your specific situation
What If My System Has Been Live for a While?
REC registrations can often be backdated, so credits from before your registration date may still be claimable.
If your system has been live and you:
- Haven't received a registration email
- Aren't sure whether you're enrolled
- Have questions about your status
Contact our Customer Success team and we'll look into your status.
Other Incentives That May Require Your Action
Beyond your system's ongoing energy savings, there are a handful of state and local incentives that may require action on your part to claim. These won't happen automatically.
New York State Personal Tax Credit (Form IT-255)
New York homeowners with a customer-owned solar system are eligible for a state income tax credit equal to 25% of the system cost, up to a maximum of $5,000.
How to claim:
- File Form IT-255 with your New York State income tax return
- Use your final invoice from Venture Home as documentation of system cost
- Credit can be carried forward for up to five years if your tax liability in a given year is less than the full credit amount
Important: Consult a tax professional to confirm your eligibility and how to apply it to your return.
Local Property Tax Exemptions
Many municipalities across Venture Home's service area offer a property tax exemption for the added value solar brings to your home.
What this means:
- Solar increases your home's assessed value
- But the solar portion is excluded from your property tax calculation
How to claim:
- These exemptions are not automatic in all jurisdictions
- Some require you to file an application with your local tax assessor
- Check with your town or county assessor's office to confirm availability and application requirements
Virtual Power Plant (VPP) / Demand Response Programs
If you have a battery storage system, you may be eligible to earn bill credits or payments by enrolling in a demand response or virtual power plant (VPP) program.
How it works:
- Programs compensate you for allowing your utility to briefly draw on your battery during peak grid demand events
- Participation is voluntary
- Your battery remains under your control outside of these events
- Enrollment and management is done directly through your Enphase App or Tesla App
Available programs by area:
| State | Program | Utility | Eligibility |
|---|---|---|---|
| New York | Demand Limiting Managed Charging (DLM) | Con Edison | Battery customers |
| Connecticut | Energy Storage Solutions | Eversource CT, United Illuminating | Battery customers |
| Rhode Island | Connected Solutions | Rhode Island Energy | Battery customers |
| Massachusetts | Connected Solutions | Eversource MA, National Grid MA | Battery customers |
How to enroll:
- Open your Enphase or Tesla app
- Navigate to your battery settings
- Look for the demand response or grid services enrollment option
Need help finding it? Our Customer Success team can walk you through it.
Maryland MEA Grant
The Maryland Energy Administration offers a grant for residential solar and battery storage installations.
How it works:
- In most cases, Venture Home handles the MEA grant application on your behalf as part of your project
- If this was included in your agreement, you don't need to take any action
If you are claiming the grant directly (discussed with your project team at time of sale):
- You'll need to submit your application to the MEA
- Include documentation of your completed installation
- Contact our Customer Success team to confirm whether Venture Home filed on your behalf or whether the application is yours to submit
Quick Reference: What You Need to Do
| Incentive | Action Required |
|---|---|
| RECs/SRECs (all states) | Complete email sign-up when notified |
| NY State Tax Credit | File Form IT-255 with your tax return |
| Local Property Tax Exemption | Check with assessor; may need to apply |
| VPP/Demand Response | Enroll via Enphase/Tesla app (battery only) |
| Maryland MEA Grant | None if VH filed; otherwise submit yourself |
Questions?
Contact Customer Success:
- Phone: 800-203-4158
- Email: Via the Venture Home app
- Webchat: Available on our website during business hours
We can help with:
- Confirming your eligibility
- Checking your registration status
- Walking you through enrollment steps
- Explaining programs specific to your state