A Renewable Energy Certificate (REC), also known as a Renewable Energy Credit, is created for each megawatt-hour (1 MWh, or 1000 kilowatt-hours) of renewable electricity generated and delivered to the power grid by your solar array. Purchasers of RECs (usually industrial or coal using companys) provide renewable energy project owners with a revenue stream that supplements the revenue they secure from the sale of the project’s electricity(via brokers). These additional revenues improve renewable energy project economics, increasing their competitiveness with fossil fuels like coal and natural gas. Despite being a mature technology, the U.S. Government Accountability Office has determined that conventional fossil fuel generation receives significantly higher federal subsidies than renewable energy generation.
Posted on: Fri, 04 Oct 2013 01:09:39 +0000
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