Sol Systems has partnered with the Common Cents Solar Cooperative (CCS) to help ensure the development of clean, carbon-free solar energy in Maryland and Washington, DC. Under the partnership, Sol Systems will help register the CCS solar systems with the appropriate regulatory bodies and purchase the solar renewable energy credits (SRECs) produced by the CCS. This agreement provides members of CCS with a long-term purchaser of their SRECs for set prices, helping to defer the up-front cost of the solar systems.
“Common Cents Solar serves as a model of how communities can economically benefit from the switch to solar,” said Yuri Horwitz, CEO and co-founder of Sol Systems. “We are ecstatic to help Common Cents fully realize the true value of solar energy by providing them with a long-term reliable purchase partner for SRECs.”
Many states, including Maryland and the District of Columbia, require utilities to generate a certain amount of electricity from renewable energy. If utilities cannot meet this requirement themselves, they have the option of either paying a penalty called the alternative compliance price (ACP) or purchasing SRECs from homeowners and businesses with solar systems. Sol Systems acts as an intermediary between solar system owners, like those within the Common Cents Cooperative that produce SRECs, and energy companies required to purchase them. SREC revenue is a primary economic tool for driving down the costs of solar.
CCS has completed over 40 residential installations in Washington, DC and the Maryland suburbs this year, and is adding commercial buildings, community centers, churches and other non-profits to the mix next year. CCS members get lower prices for solar systems because CCS can pool community resources to take advantage of economies of scale, both in time and cost. CCS also negotiates discounts from installers, provides independent technical and economic analysis of the many solar choices available, and helps its members save thousands of dollars through grants, tax credits and rebates from bundled SREC sales.
This past spring Sol Systems announced a similar partnership agreement with the Mount Pleasant (DC) Solar Cooperative. Sol Systems is one of the largest and oldest SREC aggregators in the country, operating in the states of Kentucky, Indiana, Michigan, Ohio, Pennsylvania, New Jersey, Delaware, Maryland, Virginia, North Carolina, and West Virginia, and the District of Columbia.
For more information on Sol Systems, you can visit www.SolSystemsCompany.com
You can visit the Common Cents Solar Cooperative at www.CommonCentsSolar.org