Facebook Ad Bing Ad

Everything Solar Customers Should Know About SRECs in Stroudsburg, PA

Green Bolt
Everything Solar Customers Should Know About SRECs in Stroudsburg, PA

Homeowners have several reasons to go solar in Stroudsburg, PA, and financial incentives happen to be some of the most compelling among them. There’s a slew of financial incentives available to home solar buyers from state and federal governments. However, homeowners often tend to ignore solar renewable energy certificates (SRECs).

SRECs are performance-based incentives (PBIs) that solar owners earn based on the amount of solar power they generate over the year. Here’s what you must know about them:

How SRECs Work in Stroudsburg, PA?

Pennsylvania has put in place an SREC program that rewards solar owners based on the amount of solar power they generate. In practice, for every 1 kWh of solar power generated by a solar panel installation, the owner earns 1 SREC.

To put things in perspective, a 10 kW solar system generates somewhere between 11 kWh and 12 kWh of solar power annually. So, the owner of a 10 kW solar installation can earn about 11 or 12 SRECs, respectively.

Once you earn these SRECs, you can sell them for profit in the open market. 

Who Buys SRECs and Why?

The state of Pennsylvania has mandated utility companies to produce a portion of their electricity from using renewable sources. Most utility companies simply purchase SRECs from solar buyers to fulfill their mandate’s requirements.

This way, solar buyers can sell the SRECs they earn by generating solar power in the open market to competing utility companies. 

What Are SRECs Worth?

As of April 2022, Pennsylvania SRECs are trading at about $40 apiece. So, if your system generates 12 kWh of solar power annually and earns 12 SRECs, you’ll pocket $480 at the end of the year.

These profits are in addition to other incentives like net metering, which operate independently of the SRECs.

When and Where to Sell SRECs?

You can trade your SRECs in the open market on SREC Trade. However, the SRECs are valid for only 3 calendar years.

The price of SRECs varies from time to time based on demand-supply economics. So, if you’d like to wait until you get better prices, make sure to sell them before their scheduled expiry. To know more about SRECs and how they can impact your profits from switching to home solar, get in touch with us.

Facebook
Twitter
LinkedIn
Pinterest

Leave a Reply

Your email address will not be published. Required fields are marked *

Lead-Acid vs. Lithium Batteries: Which Solar Battery Storage is Good for East Brunswick Homes?
Lead-Acid vs. Lithium Batteries: Which Solar Battery Storage is Good for East Brunswick Homes?

Homeowners are increasingly choosing to add battery storage to their solar power installation. When considering solar battery storage, you will always come down to the question: Should I choose a lead-acid battery or a lithium-ion battery? After all, these are the two most popular home storage batteries available in the market, and here is everything you need to know to make a decision.

Read More »
Will Solar Solutions Become More Affordable Over Time in Cedar Park?
Will Solar Solutions Become More Affordable Over Time in Cedar Park?

Green energy supporters in the U.S. who also support local economies have always been conscious of the fact that the majority of solar panels in the country are imported. They had an uneasy choice presented before them: choose green energy or support the local economy? What’s more, the imported solar panels were cheaper than the locally sourced solar panels too, tilting the balance in favor of foreign players.

Read More »

Get Started Today

Let’s talk about potential solar opportunities. We offer free, no obligation quotes to get you started on your solar journey.

If you’d like to talk with us outside of getting a quote then please reach out to us using our contact page.

"By hitting submit you recognize that we may contact you using phone, email, and/or text in regards to your inquiry. Please refer to our privacy policy for more information."
@ 2023 GREEN POWER ENERGY (844) 584-0008
47 East Street Annandale, NJ 08801

42 Ozick Dr, Suite 3, Durham, CT 06422

2112 Holly St, Austin, TX 78702

NJ HIC #13VH05559800

NJ ELC #34EB01151200

PA HIC #PA128259
CT HIC #0656622
CT ELC.0205319-E1
TECL #37773