Is your Pennsylvania home generating SRECs? Find out how to sell your credits for cash in the article below.
What is an SREC?
An SREC is a solar renewable energy credit. It is one of many government incentives aimed at increasing the amount of green energy produced.
Essentially, these are renewable energy production incentives that you earn on top of the power your solar system generates. They allow you to earn money based on the amount of electricity your solar panels produce. You can then sell your SRECs via digital marketplaces to numerous in-state companies.
The value of an SREC varies by state. As of 2023, Pennsylvania SRECs have a worth of $38. While this is less than other states, the market for these SRECs has proved less risky than others. Over the past few years, the Pennsylvania SREC value has remained the same.
Why are Pennsylvania SRECs sold?
In recent years, alternative energy efforts have caused states to up their requirements of renewable energy generated and used per company. For example, Pennsylvania requires at least .05% of a company’s total energy to be renewable.
However, many companies struggle to meet this quota. This is why SRECs exist.
These companies are able to subsidize local homeowners producing an excess of solar energy.
In other words, they are paying you to produce their renewable energy, allowing them to meet their state requirements.
Am I eligible for Pennsylvania SRECs?
To be eligible for an SREC, your solar system must be on-gird. On-grid means that your system is sending energy back to your utility company. In Pennsylvania, your solar energy will most likely go to PECO and PPL. On-grid system owners pay the difference of their energy bill and energy that they produced that period.
To be eligible for Pennsylvania SRECs, you must live in Pennsylvania. The recently passed Pennsylvania Act No. 40 prohibited those outside state lines from obtaining Pennsylvania SRECs. However, various other states such as Maryland and New Jersey have SREC markets of their own for their homeowners.
If your solar system is both on-grid and in state lines, you are eligible for credit. You will receive your first SREC once your system has generated the necessary amount of energy – 1,000 kMh. Each Pennsylvania homeowner is eligible for 12 SRECs a year.
How do I sell my Pennsylvania SRECs?
You can sell your Pennsylvania SRECs online from your house. Websites such as SREC Marketplace offer a stress-free selling environment. Their professionals ensure that you get the best value for your SRECs.
Want to get in on the action?
Contact Limina Solar for solar panel quick, easy solar panel installation so that you too can start selling your SRECs.
