; and (B) except as provided in paragraph (4), not more than 1 Federal renewable electricity credit is issued for any megawatt hour of renewable electricity. (8) Trading The lawful holder of a Federal renewable electricity credit may— (A) sell, exchange, or transfer the credit; (B) submit the credit for compliance under subsection (c); or (C) submit the credit for retirement by the Commission. (9) Banking (A) In general A Federal renewable electricity credit may be submitted in satisfaction of the compliance obligation under subsection (c) for the compliance year in which the credit was issued or for any of the 3 immediately subsequent compliance years. (B) Retirement The Commission shall retire any Federal renewable electricity credit that has not been retired by April 2 of the calendar year that is 3 years after the calendar year during which the credit was issued. (10) Retirement The Commission shall retire a Federal renewable electricity credit immediately upon submission by the lawful holder of the credit, whether in satisfaction of a compliance obligation under subsection (c) or for another reason. (g) Alternative compliance payments (1) In general A retail electric supplier may satisfy the requirements of subsection (c) in whole or in part by submitting in accordance with this subsection, in lieu of each Federal renewable electricity credit that would otherwise be due, a payment equal to $50, adjusted for inflation on January 1 of each year following calendar year 2019, in accordance with regulations promulgated by the Commission. (2) Payment to State funds (A) In general Except as otherwise provided in this paragraph, payments made under this subsection shall be made directly to one or more States in which the retail electric supplier sells electric energy, in proportion to the portion of the retail electric supplier's base quantity that is sold within each applicable State, if— (i) the payments are deposited directly into a fund of the State treasury established for that purpose