A Solar Energy Market: Solar Renewable Energy Credits (SRECs)

A lot of solar energy talk has been circulating in forums and discussions everywhere. However, they only present one advantage of solar energy – that it is eco-friendly. Which is why all those talks are not helping them advance their cause. Solar energy needs investors and that the investors are the businessmen; and businessmen will only do what is good for business. This is what needs to be shown – that solar energy is good for business. Solar energy is affordable; significant federal and state incentives, escalating energy costs, and the increased property value associated with installing solar mean that solar has a strong return on investment. These federal and state incentives are actually very helpful e.g. the Massachusetts Solar Incentives, not only does it provide rebates, this incentive system also encourages solar energy enthusiasts in Massachusetts. Furthermore, there is this thing we call Solar Renewable Energy Certificates (SRECs) . The Department of Energy Resources has implemented an SREC market. This program offers an on-going 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.  This market adds a minimum of 28.5 cents and a maximum of 55 cents to the value of each kilowatt hour of electricity produced, dramatically reducing payback periods and skyrocketing return on investment for solar system owners. The next step would then be – going Solar. How to begin? Begin by contacting SunBug Solar – the best solar energy solutions provider around.