As a review: an SREC is a certification that a system has produced 1000 Kilowatthours of solar energy. They can be bought and sold as commodities. In most states the utility companies are required to include certain percentages of 'green' power in their total production. They can and do purchase these certificates rather than physically generate the green power to meet this requirement. [I have mixed feelings about this scheme, many of which make me a hypocrite, but that's for another post.]
We sold one SREC for May, for $ 665.
So here's summary of SREC activity. We've been eligible to generate them since sometime last fall (I haven't been able to pin down the exact point where the energy we generated "counted" but I know we lost out on all that summer 2009 power because we hadn't passed inspection yet.)
Fall 2009 (sold at auction in December): 4 SRECs @ $ 660 = $ 2640
December 2009 (none generated)
January 2010 (sold at auction in February): 1 SREC @ $ 660 = $660
February 2010 (sold at auction in March): 1 SREC @ $ 665 = $ 665
March 2010 (none generated)
April 2010 (sold at auction in May): 2 SRECs @ 665 = $ 1330
May 2010 (sold at auction in June): 1 SREC @ 665 = $ 665
Grand Total: 9 SRECs sold for a total of $5,960.
Monday, June 7, 2010
Friday, June 4, 2010
Happy Anniversary
Well today is anniversary day! One year ago today the system was completed and went online.
http://solarpowr.blogspot.com/2009_06_01_archive.html
Also, it's Happy 22nd Anniversary to Dave and LA. Dinner at Guillermo's tonight to celebrate...
http://solarpowr.blogspot.com/2009_06_01_archive.html
Also, it's Happy 22nd Anniversary to Dave and LA. Dinner at Guillermo's tonight to celebrate...
Wednesday, June 2, 2010
Different Kinds of SREC Brokers Out There!
I've been getting lots of questions from people who are signing up with SREC brokers who are offering deals which, let's say, aren't as good as the one I have. Immediately below I answered three questions that came in today. Then, rather than retype the same sentiments, I went back through my comments and dug up my best answer.
I apologize in advance for loving my broker, SRECTrade!
This question is from Jim in a comment posted today (June 2, 2010).
From your post, you are located in New Jersey. I have just received a proposal from my 'installer/broker' for a commission that is far greater than what you seem to be paying.
I have 3 questions:
1.) Are you receiving current (2010) market value for your SRECS?
Dave's answer: Yes. I sell my SRECS (well, my broker does ALL the work) every month at auction so I get the 2010 New Jersey market value (it's always been $660 or $665 so far.)
2.) How often are you making your SRECs available to the market? Monthly? quarterly?
Dave's answer: My SRECs sell in an auction every month.
3.) Regarding the paperwork - did you have all the information required readily available to you or did you have to dig for it?
Dave's answer: Once I signed on with my broker (SRECTrade) and filled out about 3 pages of forms that they sent, they did everything. I just sit back and wait for direct deposit.
Here's a more in-depth answer, which I copied from an older comment trail in the "1040 Good Buddy" post:
note: this reply will sound like a commercial for SRECTrade, the broker that handles my SRECs. I'm not associated with them in any way except as a customer -- but the fact is that they rock and I'm glad to endorse their services.]
First of all, don't worry about your SREC rotting away. You have plenty of time to decide how to sell these things.
I did research and decided to work with SRECTrade. I think they're fantastic. They'll hold your hand through signing up and all the red tape/paperwork. Then you can just sit back and read emails about the SRECs they've sold for you.
There are a lot of brokers out there. Some are like SRECTrade -- they take a very small commission and make their money by doing LOTS of transactions. With most of these, including SRECTrade, you are free to pull out of the arrangement any time.
The other ones are more old-fashioned. They don't want you to know the specifics, they just want you to commit to a long term arrangement (which usually benefits them a lot more than they benefit you, in my opinion.) My installer tried to push me into one of these. After I read the fine print I realized why -- they get a commission for the first two years of the contract. I thought it was a little shady.
Anyway, I am completely happy with SRECTrade. I can't imagine a better deal. I know it's possible to sell these on your own but the commission with SRECTrade is so small that I can't imagine going through all the hassle.
I hope I've helped. Feel free to ask me anything. I'm always happy to help!
I apologize in advance for loving my broker, SRECTrade!
This question is from Jim in a comment posted today (June 2, 2010).
From your post, you are located in New Jersey. I have just received a proposal from my 'installer/broker' for a commission that is far greater than what you seem to be paying.
I have 3 questions:
1.) Are you receiving current (2010) market value for your SRECS?
Dave's answer: Yes. I sell my SRECS (well, my broker does ALL the work) every month at auction so I get the 2010 New Jersey market value (it's always been $660 or $665 so far.)
2.) How often are you making your SRECs available to the market? Monthly? quarterly?
Dave's answer: My SRECs sell in an auction every month.
3.) Regarding the paperwork - did you have all the information required readily available to you or did you have to dig for it?
Dave's answer: Once I signed on with my broker (SRECTrade) and filled out about 3 pages of forms that they sent, they did everything. I just sit back and wait for direct deposit.
Here's a more in-depth answer, which I copied from an older comment trail in the "1040 Good Buddy" post:
note: this reply will sound like a commercial for SRECTrade, the broker that handles my SRECs. I'm not associated with them in any way except as a customer -- but the fact is that they rock and I'm glad to endorse their services.]
First of all, don't worry about your SREC rotting away. You have plenty of time to decide how to sell these things.
I did research and decided to work with SRECTrade. I think they're fantastic. They'll hold your hand through signing up and all the red tape/paperwork. Then you can just sit back and read emails about the SRECs they've sold for you.
There are a lot of brokers out there. Some are like SRECTrade -- they take a very small commission and make their money by doing LOTS of transactions. With most of these, including SRECTrade, you are free to pull out of the arrangement any time.
The other ones are more old-fashioned. They don't want you to know the specifics, they just want you to commit to a long term arrangement (which usually benefits them a lot more than they benefit you, in my opinion.) My installer tried to push me into one of these. After I read the fine print I realized why -- they get a commission for the first two years of the contract. I thought it was a little shady.
Anyway, I am completely happy with SRECTrade. I can't imagine a better deal. I know it's possible to sell these on your own but the commission with SRECTrade is so small that I can't imagine going through all the hassle.
I hope I've helped. Feel free to ask me anything. I'm always happy to help!
Monday, May 24, 2010
Meter Readings for Last Month (or So)
I haven't posted any numbers for a while, so here goes. I don't track everything on a daily basis anymore. It was too much work, and I ended up losing my data when my computer crashed anyway.
Now I just look at the electric meter once in a while. To me this is the most important number because it summarizes the balance between power generated and power used.
[These are all a.m. meter readings.]
April 12: 17,510
April 13: 17,475
April 14: 17,493
April 15: 17,454
April 19: 17,353
April 21: 17,300
April 25: 17,213
April 28: 17,251
May 5: 17,294
May 17: 17,118
May 24: 17,140
A decrease from the previous reading means that a surplus has been generated and exported to the power grid. An increase means the opposite.
The reasons for fluctuations is obvious -- on cloudy days we don't generate as much power. On hot days we use more power (A.C.)
Now I just look at the electric meter once in a while. To me this is the most important number because it summarizes the balance between power generated and power used.
[These are all a.m. meter readings.]
April 12: 17,510
April 13: 17,475
April 14: 17,493
April 15: 17,454
April 19: 17,353
April 21: 17,300
April 25: 17,213
April 28: 17,251
May 5: 17,294
May 17: 17,118
May 24: 17,140
A decrease from the previous reading means that a surplus has been generated and exported to the power grid. An increase means the opposite.
The reasons for fluctuations is obvious -- on cloudy days we don't generate as much power. On hot days we use more power (A.C.)
Wednesday, May 12, 2010
Camping Out for the Solar Rebate
Interesting little blurb in the Courier Post (Cherry Hill, NJ) today. 1100 people submitted applications for the state solar rebate on the same day last week -- some of them camped out waiting in line to do so (I guess there must have been some kind of deadline).
The State Board of Public Utilities has stopped accepting applications until September. I can't imagine there's enough money to cover even the 1100 recent applicants.
Money is tight here in New Jersey right now and the new governor is cutting a lot of programs to try to balance the budget. Programs like this will probably be the first to go.
Here's the article.
http://www.courierpostonline.com/article/20100512/NEWS01/5120340/Solar-rebate-program-put-on-hold-by-state
The State Board of Public Utilities has stopped accepting applications until September. I can't imagine there's enough money to cover even the 1100 recent applicants.
Money is tight here in New Jersey right now and the new governor is cutting a lot of programs to try to balance the budget. Programs like this will probably be the first to go.
Here's the article.
http://www.courierpostonline.com/article/20100512/NEWS01/5120340/Solar-rebate-program-put-on-hold-by-state
Sunday, May 9, 2010
Bummer, Only two SRECs
I was hoping for three, as I already posted, but we only had two April SRECs to sell in the SRECTrade auction on Friday. Oh well, we only netted $1330 (selling price was $665). That ought to pay a few future electric bills...
Wednesday, May 5, 2010
Auction Friday
The auction for April SRECs is on Friday. I'm still pretty new at this but I can't imagine that I haven't generated at least two. We got shut out in March but I'll bet we generated .9999999 SRECs in that month. Add that to the two+ I'm estimating for April and it looks pretty good. Is three too many to expect?
That would be about $1900 -- we're chipping away at the initial cost. Cool...
That would be about $1900 -- we're chipping away at the initial cost. Cool...
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