Earlier this month I went to a local meeting of a grassroots environmental group. One of the people I met there had just got solar panels installed, just like me, and we quickly bonded. We both have 5 kW systems that supply a little more than half our electricity needs. And like me, he was very proud of his solar panels and the money he was saving every month off his electricity bill. But whereas I took out a loan to purchase my system, he leased his and, to put it bluntly, he got ripped off. Continue reading
Just a quick note to say that the January 15th quarterly auction of SRECs at SRECTrade saw a price increase from the October 2011 auction price of $535/SREC to $540/SREC. That shows that there is still a large shortfall in the availability of SRECs in the marketplace. These SRECs were generated during Q3 (July – September) 2011.
Each SREC represents 1,000 kWh or one megawatt-hour of generated electricity. A 5 kW system in Massachusetts should generated about 6 SRECs annually.
My system went live at the end of November, 2011, so the next auction in mid-April will be my first. Hopefully the SREC market will remain as strong as it is now.
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If you live in Massachusetts, the answer is a resounding yes!
Due to the many incentives at both the state and federal level to purchase solar (photovoltaic) panels, there has never been a better time to go green with solar energy. Most residential systems can pay for themselves in less than 5 years. Continue reading