Solar Market and Cost Analysis

Price Per SREC (Simple Average) $90 $80 $70 $60 • SREC Pricing SREC bid prices in Washington, D.C. dipped $100 in mid-2022 but then quickly rebounded. - The price decline and increase may indicate uncertainty of an oversupply of SRECs, as more than half of D.C.'s solar capacity has been installed in the past 2 years. Lower-Priced Markets PA MD OH In-state $50 $40 $30 $20 $10 $0 Jan-19 Apr-19 Jul-19 Source: SRECTrade, https://www.srectrade.com/, accessed 2/3/23. Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Jan-23 Price Per SREC (Simple Average) $500 $400 $300 • Other SREC prices stayed relatively flat during this period. Active SREC programs have closed in New Jersey, Massachusetts, and Ohio. Higher-Priced Markets $200 NJ DC MA (SREC II) $100 $0 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 NRE! Oct-22 / £¿-uer

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