Posts tagged SRECs

US Set to Lead in Global PV Output; New Jersey Catching up to California

According to GreenTech Media Research, the United States is closing in on the front runner position to head the global solar photovoltaic (PV) marketplace. The US is poised on the brink of growth explosion, and sales are expected to double by 2011.

German solar industry association BSW states that Germany is currently the largest solar PV market worldwide, but the report (titled ‘The United States PV Market Through 2013: Project Economics, Policy, Demand and Strategy’) indicates that the U.S. will sweep past Germany to take first place globally in the field of solar sales and installation.

The reason? US demand for solar has skyrocketed thanks to federal mandates, and is expected to keep growing, with a rise of about 50 percent, from 320 megawatts in 2008 to a projected 1,212 megawatts (1.2 gigawatts) in 2012. There is even the possibility of topping  2 gigawatts by that date if federal, state and regional incentives keep expanding.

California currently holds the title for US solar PV leadership, but rising solar PV demand puts other states (Arizona, New Jersey, New Mexico, New York, Nevada and Massachusetts) in play. These are expected to  collectively support 376 megawatts of PV generated electricity by  2012.

The growth is expected to occur primarily in residential and utility-scale sectors. Investors are increasingly willing to support utility-scale solar as a reliable, long-term investment thanks to state renewable portfolio standards, or RPSs. These mandate higher limits of renewable energy in a utility’s generation mix. Utility or power companies unable to comply can make up the deficit by buying credits from residential and commercial owners of PV systems through SREC programs like the one available in New Jersey..

New Jersey offers solar renewable energy credits, or SRECs, for energy produced through PV. These trade in excess of $600 on the market, and cqan be purchased by private investors against rises in future value, or by power companies to help satisfy their alternative energy quotas.

In addition, the grants available to commercial installations make it easier for mom and pop stores to install and run PV systems – the average time to pay off a system is four years, and all SRECs generated after that time are pure profit.

Advertisements

Leave a comment »

New Jersey Business Owners Eligible for Grants

Commercial PV systems now falling under federal grant guidelines for clean energy

New Jersey business owners can now receive a grant to help defray the cost of purchasing and installing a photovoltaic system, making ‘going green’ even more affordable for even small businesses.

For FYE 2009 and FYE 2010, treasury grants are now available to those who choose to install photovoltaic systems in New Jersey and elsewhere. Formerly, businesses could qualify for a federal tax credit, but a new system has been set up to allow the U.S. Treasury Department to issue grants equal to 30% of the cost of new commercial solar installation projects initiated in the US over the next 2 years.

New Jersey business owners can receive a cash grant through this federal stimulus package. The maximum benefit equals $1,500 per 0.5 kW for qualified fuel cell property; between 10 and 30% of the cost of teh system. Grant applications must be submitted by 10/1/2011. Payment of grant will be made within 60 days of the grant application date or the date property is placed in service, whichever is later.

This is a better system than the original tax credit available, and these grants can still be combined with other incentives and loans available at the federal and state level for photovoltaic installations. PV systems can save New Jersey businesses considerable costs over a five to ten year period, and bring in additional revenue by qualifying for the state’s SREC program.

Visit Arosa Solar to learn more about PV systems and federal grants in place.

Leave a comment »

What Size PV System do I Need?

Matching Your Load With Your PV System

If you have determined that PV is the best way to meet your energy needs, you need to size your system to effectively meet your daily load. You will need the answers to the following questions and the assistance of an expert to make an informed decision.

What is your budget? Remember, in New Jersey and many other states, the government offers rebates and tax credits at the federal and state levels. It is cheaper overall to install a larger system all at once than to only add a few kilowatt system and add later. A 10 kw system is generally required to qualify for net metering, and for registration online to earn SRECs.

Does your load need to be met all day every day? If not, what percentage of your energy needs do you hope to supply with your system?

Will you need to stay hooked into the grid if there are extended periods when the sun does not shine? New Jersey and surrounding states can experience periods of cloudiness for days, especially in winter.

What are has your average electricity usage been over the past few years?

Does your utility company allow net metering (will they let you have energy when you need it, and buy back from you when you have excess)?

Once you have determined what your budget and expected usage are, you can calculate the size system you should purchase. A chart is available for calculating square footage of roofing needed by the efficiency of your proposed PV modules here.

Your first step is to determine your average daily usage in kilowatt hours. Most bills will have this displayed either as a daily average over the month or the total kilowatt hours used over the month. Look at your average over the year to get the best estimate of your usage.

Use the chart found here to estimate the number of clear, partially cloudy and cloudy days per year in your state or town. This will give you an idea of how much monthly production you can have at different times of year.

Arosa Solar can help you estimate the size PV system you will need to produce any percentage of your building’s energy. You can work the figures backwards if you are buying based on a budget, multiplying the number of sunlight hours / day times the number of kilowatts a prospective system would produce. This will give you an idea of what percentage of your home’s power could be replaced with solar energy on an average day.

Go solar!

Comments (1) »

Federal Incentive for Business PV Systems

Make your business run green, and you can cash in on government green!

New Jersey business owners now have even more reasons to ‘go solar’ with the help of Arosa Solar. Installing a PV system to supply electricity to run a business can help you  escape dependence on standard energy sources that pollute the environment, and pull in nice incentives from the government as well!

Grid-tied PV systems generate “green” renewable energy from the roof of a business without the danger of running short on power. They have battery back-up capability that stores energy as well, and will take energy from the electric company on cloudy days, feeding it back into the grid on good days or weekends when energy use is lower! This saves money for business owners, and in addition, Solar Renewable Energy Certificates (SREC’s) can be accumulated and sold to investors or energy companies. Utility companies are required to produce a certain amount of their energy from renewable sources, but capability isn’t keeping up as building large solar and wind powered plants is taking longer than anticipated. To keep in compliance, these companies can satisfy part of that requirement by buying these ‘green tags’, which in New Jersey are trading for well over $600.

As an added bonus, eligible systems placed in service on or before December 31, 2016 qualify for a federal credit equal to 30% of expenditures, with no maximum credit. In other terms, if you have a solar PV system installed, you can either qualify for a tax credit equal to 30% of the cost of the system, or, if you can’t use the credit, you will receive a grant from the US Treasury in the form of a check for the same amount within 60 days of final inspection of such a system!

What are you waiting for? If you own and operate a business and have the space for a photovoltaic system, you have nothing to lose and everything to gain. Call Arosa Solar and speak to an expert today.

Leave a comment »

Arosa Solar PV Systems Reduce Electric Costs

Live Cheaper, Live Greener

Are high electric costs getting you heated under the collar? Solar panels are designed to let the power of the sun provide electricity for your home, and can significantly reduce those high summer bills. Arosa Solar sells and installs full PV systems in Lakewood, NJ and the surrounding areas, enabling many home and business owners in in New Jersey to fill their electric needs cleanly and cheaply.

Photovoltaic (PV) modules use solar panels to create energy from sunlight – energy that can be used to power your home or business. The modules are wired together and placed on an unobstructed roof or un-shaded patch of ground with a full view of the sky.

In New Jersey, solar panels will be more effective in the summer months. Staying connected to the electrical grid can benefit you on that front, since not only will you be getting your electricity free, but you can sell any surplus back to the energy company – in effect spinning the meter backwards. In the winter, any power you lack can be supplied by the energy company so you never lose power.

In addition to saving on immediate electricity bills, you can also rack up SRECs, or green tags. These are certificates that show every megawatt of energy your system has produced; you can sell this certificates for nearly $700 currently in New Jersey. Arosa Solar customers who purchase a ten kilowatt system automatically are hooked to the state database, which remotely tracks and records power being generated.

This summer, call Arosa Solar for an estimate and evaluation of your own home and whether solar power might be your best option for going green and keeping your green! Located in Lakewood, NJ, Arosa Solar has trained technicians, contacts all over the country and a commitment to getting you the best PV system possible.

Reduce your electric bill, live greener and start enjoying freedom from worry over continually rising energy costs! Before summer hits, look into having a PV solar energy system installed on your home. It could be the smartest thing you’ll ever do!

Learn more at ArosaEnergy.com

Leave a comment »

Solar Renewable Energy Certificates

(Just One More Reason to Go Green – Brought to you by Arosa Solar!)

In New Jersey, as in other states, the advantages of going green continue to pile up. Power generated by solar energy modules can be tracked, and system owners can rack up the green in certificates known as SRECs, or Solar Renewable Energy Certificates.  Every time the amount of power generated reaches one MW (megawatt), a certificate is issued.These are also called ‘green tags’ – a term which also applies to certificates issued for other forms of clean energy such as that generated by wind farms or hydro sources.

These certificates have traded as high as $665 already this year, and with New Jersey requiring electric companies to meet a certain percentage requirement for clean energy, the price can expect to go even higher. This benefit to having an Arosa Solar PV solar panel system can help pay off the cost of a new system even faster, especially when combined with the generous federal and state tax incentives and rebates available to those who embrace renewable energy alternatives.

Owners of solar energy systems over 10 kilowatts can sign up for an automatic monitoring system that credits the kilowatt hours as they rack up, automatically notifying the owner each time they reach a MW. Even smaller PV systems installed by Arosa Solar can be estimated and approved by certified personnel, and registration obtained by turning in the approved paperwork. The main website is used for the tracking of power generated, the issuance of certificates, the posting of intent to buy or sell and the retiring of the certificates when bought by energy companies to satisfy their clean energy requirements.

SRECs are being bought and traded much like stock certificates as their value continues to rise – with many electric companies far behind schedule with plans for renewable energy production, the SRECs are in high demand to meet the mandated quotas. Companies like Arosa Solar work with customers and energy companies so that customers can save money and the energy companies can comply with solar power requirements. SRECs can be bought by electricity suppliers, renewable energy marketers, private businesses and individuals interested in supporting the development of solar energy. A list of electric suppliers that are required to purchase SRECs can be found on the official SREC website.

The New Jersey requirement for energy companies intended for them to invest in solar power sources, and the companies are required to use the SREC program to show compliance. As of this date, there is still a shortage of certificates to equal the requirement, so the price continues to rise – especially with third party brokers involved. This makes installing a PV system even more sensible, as it can provide a source of income even after the system is paid off! Arosa Solar specialists can inform you about just how much you can save by converting to solar power.

For more information on New Jersey’s Clean Energy Program, visit www.njcep.com/srec.
For information on solar energy systems and installation, visit www.arosaenergy.com/

Comments (2) »