PA Solar SREC Program: Prices, Lifespan, and How to Benefit
The PA Solar SREC program is a key solar incentive for homeowners and businesses adopting solar energy in Pennsylvania. SRECs, or Solar Renewable Energy Credits, provide financial rewards for the clean energy your solar system generates. By participating in this program, you can make solar installation both environmentally and financially beneficial.
This guide explains how the Pennsylvania SREC program works, the current Pennsylvania SREC prices, how long SRECs last in PA, and how you can maximize your benefits.
What Are SRECs and How Do They Work?
SRECs, or Solar Renewable Energy Credits, are tradable certificates earned for every 1,000 kilowatt-hours (kWh) of solar electricity your system produces. These credits are part of Pennsylvania’s Alternative Energy Portfolio Standards (AEPS), which require utility companies to source a portion of their energy from renewable sources, including solar.
Key Features of SRECs:
- Earned by Solar Owners: Homeowners and businesses with solar panels earn one SREC for every megawatt-hour (MWh) of electricity generated.
- Tradable Certificates: SRECs can be sold to utility companies that need them to meet renewable energy quotas.
- Additional Income: Selling SRECs provides a passive income stream for solar system owners.
Pennsylvania SREC Prices
The value of SRECs in Pennsylvania fluctuates based on supply and demand.
Current Price Trends:
- Average Price: Pennsylvania SREC prices typically range between $30 and $50 per credit, though they can vary.
- Market Dynamics: Prices are influenced by the state’s renewable energy targets and the availability of SRECs in the market.
For example, a 6 kW solar system generating 8,000 kWh annually can earn about 8 SRECs, translating to $240–$400 in additional income per year.
How Long Do SRECs Last in PA?
In Pennsylvania, SRECs have a lifespan of three years. This means that once an SREC is generated, it can be sold anytime within this period before it expires.
Why It Matters:
Understanding the lifespan of SRECs allows you to strategically sell them when market prices are higher, maximizing your earnings.
Steps to Benefit from the PA SREC Program
1. Install a Solar Panel System
Work with experienced solar installers to set up a system that maximizes energy production.
2. Register Your System
After installation, register your system with the Pennsylvania Public Utility Commission (PUC) and the PJM Generation Attribute Tracking System (GATS). This step is essential to start earning SRECs.
3. Sell Your SRECs
Use platforms like SRECTrade or Sol Systems to sell your SRECs at competitive market rates.
Why Participate in the PA SREC Program?
The PA SREC program is a win-win for solar system owners and the environment. By selling SRECs, you can:
- Offset Installation Costs: Earn additional income to recover your initial investment.
- Support Renewable Energy: Contribute to Pennsylvania’s renewable energy goals.
- Maximize Savings: Combine SREC earnings with other incentives like the Federal Solar Investment Tax Credit (ITC) and net metering.
Get Started with Solar and SRECs
f you’re considering going solar, the PA SREC program is an excellent way to enhance your investment. Here’s how to begin:
- Schedule a Free Consultation: Contact a trusted solar installer to evaluate your energy needs like us here at Ethical Energy Solar.
- Register for SRECs: Ensure your system is registered with the PUC and GATS.
- Start Earning: Monitor your SRECs and sell them for additional income.
Join the Solar Movement Today
With competitive Pennsylvania SREC prices and long-term savings, now is the perfect time to invest in solar energy. Contact us for a free consultation and see how much you can save with the PA Solar SREC program.
SREC PA Frequently Asked Questions
The value of an SREC in Pennsylvania typically ranges from $30 to $50, depending on market conditions.
SRECs are earned for every 1,000 kWh of solar energy your system produces. These credits can be sold to utility companies to help them meet renewable energy requirements.
Yes, Pennsylvania has an active SREC program as part of its Alternative Energy Portfolio Standards (AEPS).
Most SREC payments are made quarterly, though this can vary depending on the platform or aggregator you use.