Two weeks ago I got an email that was pleasing, I was getting paid $27 for just doing what I have been doing.
When I had the solar array installed, I had no clue about RECs (Renewable Energy Certificates). Fortunately, my install company applied for entry in a REC program for me. The installing company let me know I would be hearing from the REC company at the end of last year. I did not have to accept, indeed, had to actively pursue the opportunity once the REC company provided the info to me.
RECs are a method of tracking each MWh produced by solar/wind (or other renewable source) and pushed to the grid. Some areas have requirement for the grid to provide x percent of renewable energy thru their grid (an over simplification). That also means the producer (me) has to be vetted and tracked by the government, so if you aren't good with that, then the program is not for you. I had to apply for and become a certified solar facility, with a cert from the Department of Energy. The REC company I am going thru did everything but sign the paperwork that they submitted. It also means that if I make any changes, even put in a grid tied battery backup, or add to the system I have to notify the DOE.
Tracking by the REC company is done thru my solar monitoring company, which I had to give authorization for the REC company to have access to. But once all the paperwork is done, it is totally hands off for me. Payments (in increments of whole MWhs) are made each quarter and I will have to pay taxes on the payments received. But since I can't see making more than $100/year (if that), the taxes won't be onerous.
Sweet! Thanks for the education.
Posted by: Cop Car | August 19, 2023 at 08:00 AM