A solar system produces two financially beneficial commodities for the system owner.
One is the electrical energy needed to power a home or business. The other is a type of coupon called a Solar Renewable Energy Credit or SREC.
An SREC is earned by the solar system owner for every 1,000 kWhs of energy produced by the system. An average-sized system generates around ten (10) SRECs per year, and they have a cash value based on an open market.
An SREC is representative of a bundle of environmental benefits resulting from not generating the same electricity from a fossil-fuel-based power plant. An SREC is a measure of environmental benefits gained by producing 1,000 kWh’s of solar energy and avoiding the generation of harmful pollutants associated with fossil fuel-generated electricity such as acid rain, CO2 and other greenhouse gases as well as other damaging pollutants.
Adding solar to your home or business is good for the environment and good for your bank account. Learn more about PA SREC’s here.