Are payments for SRECs considered taxable income? Do the EDCs issue a 1099 for the value of SRECs?
Please consult your tax advisor regarding any taxes that may apply to payments for SRECs sold as well as any tax credits or allowable expenses that may be available. We would assume that the revenue from selling SRECs must be reported to taxing authorities. The EDCs have not determined whether they will issue a 1099. The EDCs will, as part of normal business practices, make all required reports to tax authorities and obtain any taxpayer information required for that purpose.
