In Massachusetts, New Jersey, Pennsylvania and most of the east-coast and Mid-Atlantic solar markets, the main incentives driving the solar market are SRECs, which stands for Solar Renewable Energy Credits. If you’re looking to get into the industry or expand your current business, you need to know how they work, how to communicate their use to customers and where you can find more information if you really want to dig deep.
We’ve had a lot of people asking about them, and though the large developers have them figured out, we want to make sure the small guys are getting in on the action, too.
What are SRECs?
An SREC is a solar renewable energy credit. One is created for every megawatt hour (MWh) of electricity produced by a solar generator. Keep in mind that SRECs are sold separately from the electricity they produce. This means a customer with a solar array on their roof can use the electricity on-site and then sell the SRECs off to another buyer. The buyers are the utilities.