The increasing popularity of renewable energy is due in part to governments incentivizing people to use more of it. Moreover, the incentives have become a way to account for the electricity provided by these renewable energy sources the system which is majorly supplied by non-renewable energies.
RECs – Renewable Energy Certificates were created as a way to account for electricity generated from renewable energy projects. There are state laws which require utilities to certify that a specific percentage of the energy they deliver comes from renewable sources. RECs represent proof that the utility has either generated the renewable electricity independently or purchased the right to have the clean power generated by a separate green energy producer, which counts towards its renewable energy percentage. This system allows utilities to, in essence, pair the positive attributes of renewable energy with the electricity they already sell. SRECs are a special form of REC that specifies solar as the renewable energy source—satisfying some states’ requirements that a specific percentage of delivered energy comes from solar sources. These requirements are known in New Jersey as the Renewable Energy Portfolio Standard or RPS.
A Solar Renewable Energy Certificate is just a version of these Renewable Energy Certificates. It is a solar incentive used in New Jersey to account for the contribution of energy from renewable resources into the energy system of the state. The SREC program is run in New Jersey for almost ten years now which is priced on the basis of the renewable energy portfolio of the state. This method allows an exchange of energy units amongst the companies which utilize and which produce it.
It works on the procedure that if a utility fails to produce its mandated amount of renewable energy it will have to pay for it. The payment is done on the basis where one SREC is equivalent of 1000 kWh. The ownership of SRECs is relevant to the energy specifically generated by the use of solar systems. These SRECs can be bought and sold keeping track of what the companies use and are left with.
Green Power Energy gives you a platform to sell these SRECs out to the ones who need it. We provide you a more favorable place for the selling of the SREC than going on to the open market yourself. Our own in-house SREC brokerage firm comes as the most evident advantage that you can get while selling them. We provide you a complete facility for you to benefit from. We install an SREC meter on your property which records the power you produce. Keeping count of your watts of production where every 1000 KWh count up to one SREC which currently has a worth of $225 in New Jersey.
What are you expected to do?
To get hold of our solar incentives all we need you to do is take a picture of your meter. Send it to us so we can get ahead with the task at hand. Other than that, you can also note down the meter number from your meter and send it to us. Green Power Energy has access to a huge number of monitoring systems, but since only SREC meters are considered revenue grade, we cannot make use of the simple meter number. So, make sure your meter is an SREC meter to enjoy our solar incentives.
So, here is your chance to get your SREC meters and get the available solar incentives. We charge $10 for each SREC that we sell for you which might seem a lot, but we also tend to get a higher price since we are selling many a time, and you will have to pay a brokerage fee on your own anyway.