Frequently Asked Questions About the Solar Renewable Energy Credits Program
What is a solar renewable energy credit (SREC)?
A solar renewable energy credit is a tradable certificate that represents all the clean energy benefits of electricity generated from a solar electric system. One SREC is produced each time your solar system generates 1,000 kilowatt-hours of electricity.
When can I sell my SRECs to Duke Energy?
If you’re enrolled in our Solar Renewable Energy Credits program, we’ll purchase your SRECs after Dec. 31 of each year. Follow our instructions to certify your SRECs from the previous year, transfer them to Duke Energy, and submit an invoice for payment. The deadline is Feb. 15 of each year.
What is each SREC worth in Ohio?
The price for 2012 was set at $97.50 per SREC. This price will remain in effect for SRECs generated in 2012 that are delivered to Duke Energy on or before Feb. 15, 2013. The market price for 2013, and all subsequent years of the 15-year term, will be set on Oct. 31 of that year.
How large is an average residential solar system?
Residential systems typically range from 3 kilowatts to 9 kilowatts. A typical 4-kilowatt system produces about 7,000 kilowatt-hours of electricity. Actual production will depend on a variety of factors such as the size of the system, the slope or orientation of the roof in relation to the sun, shading and the weather.