Standard Solar—a Maryland based full-service leader in the development, installation, and financing of solar PV for residences, businesses, and government—announced a partnership with renewable energy credit aggregator, Sol Systems, on Monday.
“Sol Systems will allow our customers to make the best financial choice for their needs while making solar a more affordable solution for their home or business,” said Scott Carr, vice president of residential business for Standard Solar.
Solar renewable energy credits, or SRECs, are an important component of the renewable energy industry and help make the investment in solar a reality for homeowners and businesses. Up to 30 percent of a solar system’s payback may come from SRECs.
“For every megawatt-hour that a solar system produces, the owner receives one solar renewable energy credit (SREC),” said Carr. “States with a Renewable Portfolio Standard (RPS) require that the electrical suppliers in the state purchase a portion of the required electricity from these solar system owners. This required purchase of this electricity creates that state’s SREC market. Standard Solar works with Sol Systems to receive expert monitoring and forecasting of the SREC markets for our customers.”
Together, with financing plans, SRECs make solar more affordable than ever before.
“Customers may chose their SREC payment plan so solar may be more affordable to those who have encountered financial roadblocks in the past,” said Carr. “In addition we are partnering with Sol Systems to bring the residents of DC for the first time a solar lease, which will make solar more affordable in DC than ever before. The lease allows participants to lower their monthly electricity costs immediately with very little money invested upfront.”
Sol Systems is the oldest and largest SREC aggregator in the country.
To date, Sol Systems has helped over 1,000 customers realize the value of their SRECs, with projects ranging from 1 kW to over 1 MW.
“Sol Systems’ experience and similar solar vision will allow us to easily work together to provide our customers with expert services and greater piece of mind,” said Carr. “We chose Sol Systems because we believe in their approach and dedication to our customers while their knowledge and offerings will allow us to both grow in the future.”