Woot! Woot! Just sold my first SREC's!

[DinerDave]

Just received the check in the mail yesterday. Solar went live early August, and took awhile to figure out this whole SREC thing. Short explanation is we get paid for our power production, whether we use it or not. Of course excess is sold back to the power company, but we also get paid for the "total" power produced, since Eversource did not have to produce it. We get "near retail", which means a little below the current rate the electricity would be sold the others. I was told by a friend he expects to get about $250 per MWh.
I know Eversource raised rates on Jan 1, so our near retail must have gone up also. The 3rd Q production was sold by our aggregators for us for $605.04, for 2.22 SREC's. That's $272.55 per MWh.
Minus their fee, we received a check for $573.48.

I dropped that whole check directly on the principle of our solar loan.

I have felt great about going solar ever since it was in the planning stages, Then I felt even better when I started to understand the SREC's. Now, I'm really psyched about this, as I have proof positive how this will work.
I realize solar is not for all, condos, apartments, tons of shade, whatever, but I urge anyone who can remotely benefit from solar to do so. Even if you don't get quite all your investment back, you are reducing your carbon footprint and counts for something.
I'm well on my way to the loan being paid off by the time I retire, so I will have no loan, basically no electric bill over a 12 month time frame. We are a total electric house, so that's a good thing.

Dave

[Speedy]

You do know in many states this is not allowed or has even been outlawed?

[pdq]

We're going (partial) solar this year (~5kW rooftop panel system) and our local energy co says they'll pay us 8 cents for every kWh produced for 10 years.

We'll be rich. Rich! (or richer, by about a dollar a day, once we pay for the thing...)
:wink:

[modelamac]

Speedy wrote:
You do know in many states this is not allowed or has even been outlawed?

How the heck does this statement/fact affect DinerDave? He is not in those "other states".

[C(-)ris]

modelamac wrote:
[quote=Speedy]
You do know in many states this is not allowed or has even been outlawed?

How the heck does this statement/fact affect DinerDave? He is not in those "other states".
He isn’t right now. But his state could switch tomorrow.

[DinerDave]

C(-)ris wrote:
[quote=modelamac]
[quote=Speedy]
You do know in many states this is not allowed or has even been outlawed?

How the heck does this statement/fact affect DinerDave? He is not in those "other states".
He isn’t right now. But his state could switch tomorrow.
Doubtful. Massachusetts, years ago gave what is now Eversource an ultimatum. Either make XX% of your power by whatever green means you want but do it. They whined about the massive investment. Mass. said OK, your option is to invest to do it, or pay the consumer to do it for you. Eversource took the lazy way and set up the SREC's. Sooo many took advantage of it, Eversource started to beg out of the agreement. The investing started with their own solar, wind, etc. so now Mass said OK, as of dec. 31, 2017 if a consumer is not on board with the SREC plan, that's it, no more. We are LOCKED in under the original agreement, meaning that for 10 years we benefit from Eversource's laziness and get paid this agreement.
Not seeing how that would change.
I realize not many states were able to work the same deal for it's residents, but I give kudos to Mass legislature for this one.

Dave

[DinerDave]

pdq wrote:
We're going (partial) solar this year (~5kW rooftop panel system) and our local energy co says they'll pay us 8 cents for every kWh produced for 10 years.

We'll be rich. Rich! (or richer, by about a dollar a day, once we pay for the thing...)
:wink:

Good for you, gives me a good feeling to know I'm doing something that's greener and better for our world.

Dave

[OWC Jamie]

The SRECs are changing for new installs sometime this year in Ma.
We're going to have one standard for new installs after certain date and grandfathered systems.
The new installs will only get a smaller percentage of the grandfathered installs.
The writing is on the wall for SREC eventually going away or at least shrinking to almost nothing.
As has happened in other states.
It was supposed to change a year ago, then the first of this year and it got pushed back again, so, who knows.
iirc, a 5kW system can net you as much as $2500.00 a year here.

Mass still has 100% net metering for Class 1 systems (60kW or less)
anyone with a system 60kW or more gets paid 60% of current rates to feed back into the system more than they use.
I think New Hampshire has the same net metering rules as Mass.

[sekker]

Excellent!

[blooz]

Wish I could have taken advantage of this, but I need a new roof first (mine is 27 years old) before any panels get put up there. First I have to pay for the roof…