Until recently, most states that have SREC trading allowed owners of small PV systems (less than 10 kW) to estimate their system’s performance using the National Renewable Energy Laboratory’s PVWatts2 program, rather than install utility-grade meters. But some states are adopting stricter regulations. In May 2012, New Jersey required all systems to install revenue-grade meters—in addition to the home’s standard electric meter—to qualify to sell SRECs. As of November 2012, SRECs in New Jersey are only issued based upon revenue-grade meter readings.
