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Solar Renewable Energy Credits (SRECs)
Many states require utilities to produce a percentage of their electricity using renewable sources of energy to avoid being assessed a fine. A utility can meet this requirement by buying Solar Renewable Energy Credits (SRECs) from homeowners, like you, who already own solar electric systems.
Here’s what you should know about SRECs
Every time your system produces one megawatt-hour of power, you’ll generate one credit (1,000 kWh of solar electricity is equal to 1MW and therefore one SREC). Utilities in many states are required to buy a certain number of credits therefore creating a state by state market for these credits and aggregators whom negotiates the sale of these credits for homeowners, business owners and utilities alike. Standard Energy Solutions (SES)is committed to working with you to find the best way to sell your system’s SRECs.
Although the value of SRECs varies by state and due to supply, the additional income you’ll receive from selling SRECs will shorten the time it takes you to recoup your investment while continuing to bring you income in the future.
In fact, combining SRECs with available incentives can help you recover your initial investment more quickly. It’s another way having a solar system for your home can pay off for you. In short, SES provides homeowners all the SREC options available. Contact one of our SES experts to learn more.