Solar Finance
Solar Financing Investment Tax Credit and Accelerated Depreciation Cash Rebates Renewable Energy Credits (RECs) Energy Savings Performance Contracting (ESPC) Power Purchase Agreements (PPAs)
Renewable Energy Credits are tradable environmental commodities which represent proof that 1 megawatt-hour (MWh) of electricity was generated from an eligible renewable energy resource. These certificates can be sold and traded and the owner of the REC can claim to have purchased renewable energy. Greenskies helps clients calculate and broker the RECs produced from their solar installation.
In states which have a REC program, the owner of a solar energy installation is credited with one REC for every 1,000 kWh electricity it produces (for reference, an average residential customer consumes about 800 kWh in a month). Greenskies will work with a certifying agency who gives each REC a unique identification number to make sure it doesn't get double-counted. The green energy and the accompanying REC can then be sold on the open market.