In 2009, Ohio began a program that requires utilities to generate some of their electricity from solar energy. The solar target level is .5% of electricity by 2024. This is a small fraction of the total Ohio renewable target of 12.5% by 2024.
July 24, 2019 update: Ohio passed a bill reducing solar and renewable requirements. The legislature passed and the Governor signed legislation that effectively removes the solar carve out from the states renewable energy goals. Additionally, it reduces future renewable requirements. The impact of this law will be to significantly reduce the price and demand for SRECs. We are currently expecting to see prices in the $4 range.
Utilities use solar credits produced by all solar installations to meet their requirements. The utilities have to pay a fee if they don’t comply with the state requirements. That means they have a financial incentive to buy your credits.
An SREC is produced each time your system generates 1,000 kWh of electricity. A 10 kw system will generate about 12,000 kWh’s of electricity per year, or 12 SRECs each year.
Your SRECs have value to the utilities, and Knollwood Energy will help you get the most value for them. We will fill out the registration paperwork with the Ohio PUC and then manage your account in GATS. Each time you generate an SREC, Knollwood will send you a check. It is that easy.
The value of your credits is based on market values. We will offer you a series of different contract options. Having been in the aggregation business since 2006, we have learned that our customers are unique, so we don’t have just one option.
Our singular focus is top quality customer service. We will make the whole process simple and efficient.
Please contact us to get more details about our services or the Ohio program.
