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If you own a solar system on your home or building, you can sell SRECs for every 1 MW (or 1,000 kW) of solar energy you generate. Some states mandate that utilities and other buyers purchase SRECs from you in order to meet the Renewable Portfolio Standard (RPS) law. You can generate and sell your SRECs through Currents, creating passive income without lifting a finger.
Renewable energy that comes from your solar system is valuable to the grid and the other parties who purchase and sell energy. When renewable energy is exported to the grid, it's mixed into all the other form of electricity, dirty or clean. SRECs create value because they are verified certificates of your energy's "renewableness". Utilities purchase this rather than paying a fine to the state because they are required to produce a certain amount of renewable energy. SRECs are just the solar-specific version of the REC market.
The price of SRECs varies by day and by the location of your solar system. Each state has its own market and the prices fluctuate like other markets (i.e. stocks, etc.). We'll help you identify how much your SRECs are worth and pay you based on this price minus our competitive fee (5% or $5/minimum, whichever is greater).
First, view your annual SREC earning potential by entering your address. To proceed with selling SRECs, you can create an account and upload your system documents - panels, inverter, interconnection date. We'll handle everything from here.
We register your system with the state and tracking registry on your behalf. From there, you'll sign a form to let us manage the SRECs and connect your solar data. Lastly, tell us what kind of payout you'd like.
Currents offers payouts through market spot prices. These prices fluctuate with supply and demand but will become passive income for you. We'll soon offer fixed contract rates. Contact us to learn more.
Generally, within 45-60 days of signing up. If you provide the required information quickly, the process can happen faster. Once you're registered and credits are generating, there is a processing time that we'll keep you updated on.
By connecting your solar data to our platform, we can automate the creation of SRECs on your behalf. It's an automated and simple process that only takes a couple of minutes to add your account and start earning. This is safe and doesn't expose any personally identifying information.
No, you are not selling the actual energy or electrons when you sell SRECs. These credits represent the "renewable" attributes of the energy you've generated. It's an additional value that solar provides to the energy grid. Selling the actual electrons is often referred to as Net Energy Metering (NEM), when your utility credits you for the solar you sell back to the grid when your home doesn't consume it. SRECs and NEM are separate benefits of solar that don't interfere or interact with each other.
