Solar Renewable Energy Certificates (SRECs) are tradable certificates that represent the emission-free, clean energy that a solar system produces.
New to Massachusetts in 2010, the Department of Energy Resources has implemented a Solar Credit market. This program offers an ongoing production incentive for homeowners and businesses with photovoltaic systems. For every megawatt hour (mWh) of electricity produced, participants earn one SREC which can then be sold to electric utilities needing to meet state renewable energy mandates. In 2010, this market projects to add a minimum of 30 cents and a maximum of 60 cents to the value of each kilowatt hour of electricity produced, dramatically reducing payback periods and skyrocketing return on investment for solar system owners.
An SREC is sold separately from the electric power the system generates. In other words, it doesn’t matter how much energy you use, you are credited with (and may sell) the full amount the system produces.
1 SREC = 1,000 kWh of solar electricity = 1 MWh of solar electricity
10 kW of solar capacity =~ 12 SRECs per year
1 SREC = $250-$400 *subject to change
Second Generation Energy and our sister company SunDial LLC are offering pre-paid Solar-RECs or SRECs for new residential customers! This promotion is intended to help make solar energy more affordable by reducing the capital investment required. Contact us for more details. Conditions and restrictions apply.