Understanding Rhode Island’s Solar Renewable Energy Credit (SREC) Program

Rhode Island has been making strides in renewable energy with the introduction of the Solar Renewable Energy Credit (SREC) Program. If you’re a Rhode Island resident interested in solar power, understanding this program is crucial. In this article, we’ll discuss everything you need to know about Rhode Island’s SREC program, including how it works, who qualifies, and how to participate.

What is the Solar Renewable Energy Credit (SREC) Program?

The SREC program is a state-run initiative that incentivizes homeowners and businesses to install solar panel systems on their properties. It does this by offering Solar Renewable Energy Credits (SRECs) to those who produce solar energy.

How Does the SREC Program Work?

Under the SREC program, Rhode Island residents who install solar panels on their property can earn SRECs. Each SREC represents one megawatt-hour (MWh) of electricity produced by the solar panel system. These SRECs can then be sold to utility companies, which are required by law to purchase a certain percentage of their energy from renewable sources like solar.

Who Qualifies for the SREC Program?

To qualify for the SREC program, you must be a Rhode Island resident who has installed solar panels on your property. Your solar panel system must be connected to the grid and must be eligible for net metering. Additionally, your solar panels must have been installed by an approved installer.

How to Participate in the SREC Program

To participate in the SREC program, you must first register your solar panel system with the Rhode Island Renewable Energy Fund. Once your system is registered, you can begin generating SRECs. You can then sell your SRECs to utility companies through a broker or directly to the utility company.

Conclusion

Rhode Island’s SREC program is a valuable incentive for homeowners and businesses looking to invest in solar power. By understanding how the program works, who qualifies, and how to participate, you can take advantage of this program to make your solar panel installation more affordable and profitable. With these plans you can lower your cost of solar panels in Rhode Island and save money when you install Rhode Island Solar Panels on your home.

Get a Free RI Solar Panel Analysis for your Home

If you’re looking to have Solar Panels Installed in Rhode Island – fill out our form at www.RhodeIslandSolarPanels.com and our RI based Solar Experts will show you how much you can save by switching to solar. Once you switch, you could potentially pay hundreds less than you normally would pay to the utility company. Solar Analysis and consultations are free.