Share the Sun : Program FAQs
- What are SRECs?
SRECs, or Solar Renewable Energy Credits, are performance-based incentives that create economic benefits for solar generation. One (1) SREC is allotted to each megawatt-hour of solar energy that is produced. An average home in Philadelphia County produces 3-5 SRECs each year. As of November 2022, one (1) SREC in Pennsylvania was valued at $42.
- Is PGCC accepting donated SRECs only from PA installations or other states as well?
We accept donations from Philadelphia and Pennsylvania, as well as from selective states outside PA – this includes donations from NJ, MD, DE, VA, WV, and OH, with parts of IL, KY, and IN that might also qualify.
- I have solar at home, but I’m not sure whether to retire them, sell them, or donate them. How can I decide?
SRECs are performance-based attributes that allow generators to earn additional income from solar electricity generation. If you own a solar system, you have the opportunity to sell your SRECs for additional income, or you can retire your SRECs. When you sell your SRECs, the buyer is purchasing the right to count the green electricity as their own generation. RECs can be moved around & traded multiple times, but their ‘environmental value’ can only be claimed once. When you retire your SRECs, you ensure that the RECs are “consumed”, their environmental attributes are claimed, and the credits can no longer be sold again.
If you decide to donate your SRECs to PGCC, your SRECs are going to the City of Philadelphia, by way of PGCC, and your donation will be directly be used to bring more solar to low-to-moderate income Philadelphians and support energy equity in Philadelphia.
SRECs have been key to helping bring more solar energy onto the grid across the county. Regardless of what you do with your SRECs, installing solar on your home generates positive environmental benefits.
- What happens to SRECs once they’ve been donated to PGCC?
PGCC will monitor & track your SREC production over time and sell them – as of 2022, PGCC has entered a contract with the City of Philadelphia for the sale of SRECs. The proceeds from the sale will be used to subsidize the cost of a solar installation for an LMI family, and the City will retire the sold credits.
- What if I’m already monetizing my SRECs with another organization, but I want to donate my future SRECs to Share the Sun?
That’s not a problem! PGCC will work with you and the organization to ensure that any new SRECs generated by your system are donated to Share the Sun.