Solar Renewable Energy Credits
Solar Renewable Energy Credits
Washington, DC, is leading the way in the switch to clean energy, with the goal of reaching 100% renewable energy by 2032. Part of the Clean Energy Omnibus Amendment Act of 2018 also states that 10% of electricity in the District should come from solar by 2041.
This tight timeline means DC has reason to offer better incentives for home and business owners to go solar — and one of those incentives is solar renewable energy certificates (SRECs). As a leader in the industry, Revolution Solar has all the information you need about making SRECs work for you.
Call (202) 827-6527 to learn more about how you can save with solar renewable energy credits.
What Are SRECs?
SRECs are solar incentives based on your individual system's performance. They're issued individually, with owners earning one credit per megawatt-hour (MWh) of electricity the system produces.
Owners sell these renewable energy credits to utilities. For utilities, the purchase of these credits proves they've paid someone to produce renewable electricity, which allows them to claim that renewable energy under their own production to satisfy DC’s requirements for its renewable portfolio standard.
For solar owners, the benefit is as simple as getting paid for their system’s passive energy generation. SRECs have variable values depending on factors such as your state and supply and demand. Some states, like Maryland, get a decent annual earning in the $400 to $500 range.
Washington, DC’s aggressive portfolio standard means the average homeowner can earn well over $3,000 per year under current market conditions.
How Do I Get Solar Renewable Energy Credits?
The first thing to know is that to obtain and sell SRECs in Washington, DC, you need to fully own your energy system. SRECs are sold through brokers or marketplaces that handle the transactions.
Your system must be registered with the DC Public Service Commission and the Generation Attribute Tracking System using their interconnection agreement and a contract, which owners can do on their own or with the help of a solar company.
As with any non-physical commodity, the most common way to sell SRECs is through a third-party broker. The most popular options in DC are Sol Systems, Knollwood Energy, and SRECTrade.
Save on Solar With Revolution Solar
There’s a significant amount of money to be made on SRECs in Washington, DC, and Revolution Solar is here to help you capture your solar energy system’s full earning potential. Thanks to our ability to maximize roof space and our commitment to offering only the best products, you can expect better efficiency than any other installer.
Call Revolution Solar at (202) 827-6527 or contact us online today to get started with solar renewable energy credits.