Virginia may not seem like one of the best states to go solar in, but that’s all about to change: thanks to the recent passing of the Virginia Clean Economy Act (VCEA), Old Dominion is poised to become one of the most advanced (and financially advantageous!) solar markets in the country.
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If you’re considering installing solar in Maryland, one incentive you should be aware of is solar renewable energy certificates (SRECs). Maryland is one of the few states that offers this performance-based incentive to people generating solar electricity. Property owners in Maryland who buy and install a solar panel system can earn hundreds of dollars each year by selling the SRECs their system generates.
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New Jersey has always been one of the best states for solar: higher-than-average electricity rates and strong solar incentives have helped thousands of New Jerseyans achieve quick payback periods on their solar investments. Above all, the state’s renewable portfolio standard and associated solar renewable energy certificate (SREC) market have been instrumental towards growing solar throughout the state. However, in June 2018, the state decided to phase out SRECs in favor of a new, yet-to-be-established successor solar program. In an effort to bridge the gap between SRECs and the next phase of solar incentives, the Garden State decided is implementing an intermediate transition solar incentive, known as TRECs.
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If you’re a business owner, the concept of “solar panels for businesses” might seem like a risky move in a complex and confusing market. You may have heard about major Fortune 500 companies going solar, but thought that it might not be feasible for your organization. Maybe you’re considering installing commercial solar panels at some point in the distant future, when your organization can afford to make a major investment in something that seems like an environmental “good” rather than a strategic financial decision.
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Following the 2018 elections, there has been a flurry of state-level action on climate change and clean energy to begin the new year. Outside of proposals at the federal level for a Green New Deal, many states are proposing and passing a suite of climate-related legislation, from emission reduction goals to clean energy procurement targets. Perhaps the most common policy instrument for growing clean energy at the state level is the renewable portfolio standard (RPS).
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If you’re considering installing a solar panel system in Pennsylvania, one incentive to be aware of is solar renewable energy certificates (SRECs). Pennsylvania is one of the few states that offers this performance-based incentive to property owners generating solar electricity. Pennsylvanians who buy and install a solar panel system can earn hundreds of dollars each year by selling SRECs.
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If you’ve been researching the best solar energy incentives available, you have likely heard something about solar renewable energy credits (SRECs). SRECs are a tradable commodity that you obtain from owning a solar panel system and producing clean energy. Because of a common state requirement known as the Renewable Portfolio Standard (RPS), many utilities must generate a certain percentage of their energy from renewable sources, typically at least 20 percent. In several states and Washington D.C., the RPS specifies that a certain percentage of the renewable energy produced must come from solar power. States with this type of “solar carve-out” are willing to pay significant amounts of money to take credit for the power generated by solar homeowners.
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There are a lot of factors that can affect the performance of your solar panels and the economic benefits they can generate—things such as where you live and how sunny it is, how much you pay for electricity, which way your house faces—even the pitch of your roof. Variety is the spice of life, but the diversity of our architecture can affect the performance of solar panels. It’s important to understand how those differences in production performance related to the angle of your roof will affect the overall financial performance of your solar power system.
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Of all the incentives for installing solar panel systems, solar renewable energy certificates (SRECs) are some of the most potent, yet least-understood. You may have heard enigmatic terms like “SREC markets,” “solar renewable portfolio standards,” and “minimum compliance payments” thrown around in discussions about SRECS, but sifting through of all this jargon can be downright mind-numbing. However, SRECs can provide sizable streams of money to owners of solar power systems, so learning about what SRECs are, where they are available, and how they can make solar more financially-rewarding can, quite literally, pay off in a big way. In this article, we aim to answer the simple question: “how do SRECs work?”
If you’re a homeowner in a state with Solar Renewable Energy Certificates (SRECs), one decision to make as you’re installing a solar panel system is how to sell your SRECs. There are a number of SREC aggregators who will sell your SRECs for you. One of the most popular of those companies that solar panel system owners elect to work with today is Sol Systems. EnergySage conducted a Q&A with Sol Systems to learn more about their company, what customers should consider when choosing an SREC aggregator, and how they differ from other SREC aggregators.
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