Share the Sun : Program FAQs
- What are SRECs?
SRECs, or Solar Renewable Energy Credits, are performance-based incentives that create economic benefits from solar generation. An average home in Philadelphia County produces 3-5 SRECs each year. As of March 2022, one (1) SREC in Pennsylvania was valued at $38.
- Is PGCC accepting donated SRECs only from PA installations or other states as well?
We accept SRECs from outside PA, although at the moment, we are only accepting donations from donors who are part of the PJM Interconnection (PA, NJ, MD, DE, VA, WV, OH, with parts of IL, KY, and IN that might also qualify).
- Is reusing the value of SRECs generated at another home a form of “greenwashing”, especially if the donated credits are going to an organization or buyer who is not generating solar themselves?
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. When you retire your SRECs, no one else can count the green electricity toward their generation. 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 your SRECs and sell them and use the proceeds to support solar installations for low-income homes in Philadelphia.
- 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.