How SRECs Work
What is an SREC?
In addition to the tax incentives that make it less expensive to install your solar system, you also have the opportunity to earn money from the power you generate. Don’t worry, we set you up with an automated program that takes care of everything required to sell the excess power you generate if you purchase the system. We’ll explain everything as part of our Free Home Analysis, but here’s an overview:
A Solar Renewable Energy Credit or SREC = 1 megawatt hour of electricity. It’s the unit used to buy and sell electricity. A third-party company tracks and certifies the power generated by renewable energy sources (like your solar electric system). SRECs have value because utility companies are mandated to either invest in renewable energy or purchase renewable power from others.
Once the installation of your solar electric system is complete, the system will be inspected and certified by a third-party. After the inspection, a state certification number is generated and is used to register an account to create and manage Renewable Energy Credits.
Solar Energy World partners with an organization that offers a service to manage your account – and they make all this completely hands-free. The entire process is automated so you can enjoy all the benefits with no effort.
Their mission is to provide the critical final component of the Renewable Energy Credit program by establishing a public marketplace connecting sellers directly to suppliers in an easy, transparent and equitable way.
When you purchase your system from Solar Energy World, the solar credits you generate belong to you. When you generate more power than you can use, that electricity is pushed back to the grid, earning an SREC with every excess megawatt you generate!
Talk to our consultants to learn the current value of SRECs and how much a solar system that fits your property can earn.