November 1, 2010 – Washington DC: Sol Systems has announced that it will extend its Sol SREC 3 offer until December 1st or until program capacity runs out. Through this offer, Sol Systems will pay solar photovoltaic (PV) system owners $303 for each solar renewable energy credit (SREC) produced for a 3 year period. PV system owners in Ohio and Pennsylvania who already have an installed a PV system or plan to have one installed before December 1, 2010 will qualify.
Owners who sign up for Sol SREC 3 will receive a predictable source of income and will gain security from fluctuating SREC spot market prices.
In many cases, solar owners who sign multi-year SREC contracts take a discount on spot market prices in exchange for long term security and protection from market volatility; however, the $303 SREC rate is superior to current Pennsylvania SREC clearing prices. Two SREC auction platforms showed a clearing price of $250/SREC in October.
Sol Systems is different than SREC brokers in that it does not make bets or take a commission on its transactions. It is able to offer competitive, multi-year SREC contracts to residential and commercial solar energy system owners because it aggregates SRECs and sells directly to utilities and energy suppliers who have a legislative obligation to purchase or generate SRECs.
About Sol Systems
Sol Systems is a Washington D.C. based solar energy finance and development firm that was built on the principle that solar energy should be an economically viable energy solution. Sol Systems enables solar developers, homeowners, and businesses to fully realize the value of their solar energy systems by providing them with a range of options for selling their SRECs. To date, Sol Systems has helped over 1,000 customers with projects ranging from 1 kW to over 1 MW realize the value of their SRECs.
Sol Systems currently operates in Delaware, Indiana, Kentucky, Maryland, Massachusetts, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Virginia, Washington, D.C., and West Virginia and has partnerships in place with over 100 solar installers and developers. For more information, please visit www.solsystemscompany.com.