WASHINGTON, D.C. -- Today, Sol Systems and the DC Sustainable Energy Utility (DCSEU) announced that Sol Systems has been awarded a five-year strip of Solar Renewable Energy Credits (SRECs) generated by an anticipated 80 rooftop solar energy systems installed on single-family households throughout the District. All 80 homes will receive their solar systems at no cost through Washington, D.C.’s Solar for All program, which is one of the largest income-qualified solar energy efforts in the United States.
Local non-profit organization Solar United Neighbors (SUN), a Solar for All grantee through the District Department of Energy and Environment (DOEE), is offering no cost solar energy system and SREC ownership as part of the Solar for All program. SUN is signing up local homeowners into three solar cooperatives that will see their systems installed by EDGE Energy on a rolling basis. Following system interconnection, the SRECs generated by each co-op will be aggregated into SREC contracts that will be managed by Sol Systems. The total number of SRECs across the five-year contract is expected to surpass 2,000, though the final total will be based on system size and performance. Sol Systems is contracted to purchase the SRECs from DCSEU annually for a fixed price.
“Sol Systems is thrilled to have an opportunity to get involved in the Solar for All program here in our hometown of Washington, D.C.,” said Bridget Callahan, Director of SREC Aggregation for Sol Systems. “Sol got its start in the SREC business, and our team has the depth of knowledge and experience to enable us to maximize value for these homeowners and for the program at large.”
Solar for All aims to bring the benefits of solar energy to 100,000 low- to moderate-income families in Washington, D.C. Since 2016, DOEE has partnered with organizations across the District to install solar on single-family homes and develop community solar projects to benefit renters and residents in multi-family buildings. All Solar for All participants should expect to see a 50% savings on their electricity bill over 15 years. The DCSEU is implementing a new round of Solar for All this year with $32 million in total funding available over three years.
“We are proud to partner with Sol Systems to make the benefits of solar more accessible to DC residents,” said Ted Trabue, Director of the DCSEU. “By alleviating the upfront costs of solar energy, income-qualified DC homeowners will now have lower energy bills and will not only benefit from owning the system on day one, but will own the SRECS generated from the system after five years.”
Homeowners who are interested in learning more about Solar for All can visit: http://www.solarunitedneighbors.org/51ststate
ABOUT SOL SYSTEMS
Sol Systems is one of the preeminent solar finance and development firms in the United States. Over the last 10 years, Sol Systems has delivered more than 800 MW of solar projects for Fortune 100 companies, municipalities, universities, churches, and small businesses. Sol now manages over $650 million in solar energy assets for utilities, banks, and Fortune 500 companies. Inc. 5000 recognized Sol Systems in its annual list of the nation’s fastest-growing private companies for five years. Learn more at www.solsystems.com.
The District of Columbia Sustainable Energy Utility (DCSEU) helps DC residents and businesses use less energy and save money. Since 2011, as a contractor to the District Department of Energy & Environment (DOEE), the DCSEU has delivered financial incentives, technical assistance, and information to tens of thousands of District residents and businesses, helping them to save millions of dollars on their energy costs. Our work is building a brighter economic, environmental, and energy future for the District. For more information, visit www.dcseu.com.