Make Money With Solar Renewable Energy Credits (RECs)
On-site solar energy is great tool to reduce energy bills and increase operational cost certainty for your business. As more of your fleet vehicles, like forklifts, become electric, solar can also dramatically decrease your fuel (i.e. electricity) costs.
PineSpire provides REC services for our customers. By selling PineSpire the RECs associated with your solar, you’re creating additional revenue from your existing solar investment
PineSpire’s experienced solar team will access your data acquisition system and set up your solar with the reporting agency to create the credits. We then monetize the credits on the REC market each quarter, integrating our work in the Carbon Credit (LCFS or CFP) market to ensure we get the best value for your RECs.
How To Generate Renewable Energy Credits
Renewable Energy Credits are created from generation of renewable power, like Solar, and represent the ‘green’ characteristics of the energy.
1,000 kWh = 1MWh = 1 REC.
All you need to do is provide PV system information (e.g. SLD, interconnection agreement) and access to the solar monitoring system.
How PineSpire Helps You Meet All The Requirements
• Registered WREGIS account
WREGIS certifies all RECs, ensuring they are from eligible sources and energy production is accurately measured and reported.
• Responsible Reporting Party
PineSpire manages the REC process on your behalf, using our WREGIS account and solar expertise.
• Registered QRE
PineSpire is a registered Qualified Reporting Entity with WREGIS .
• Data Acquisition System and System Documentation
PineSpire will help you identify the correct system information and compile all the documents necessary to participate in the program.
l. Send PineSpire available PV System Information.
2. PineSpire will verify system specs, DAS, and eligibility.
3. Enter Agreement and Generate Revenue!
Do RECs expire?
Generation data from solar systems must be from the current reporting quarter when registered to create RECs in WREGIS. RECs do not have to be sold, they can remain in the creator’s WREGIS account. However, the LCFS market is the leading (and sometimes only) opportunity to monetize RECS, and the LCFS program limits use of RECs to the previous 3 quarters. Therefore, the previous 3 quarters is the practical limit for selling RECs.
What if our PV System goes down?
RECs are only created if the PV system is generating energy. By enrolling your RECs, you’ll have access to regular system data to ensure your systems are up and running. Any O&M needed for the systems is the responsibility of the system owner/operator. If your systems do go down, there is no minimum performance penalty to worry about. If the systems consistently underperform, we may revisit the REC terms to ensure the energy generation expectations are accurate.
What are the Marketing implications of selling RECs?
Based on Federal Trade Commission Guidelines a company may only claim that its products are produced with renewable energy if “virtually all of the significant manufacturing processes involved…are powered with Renewable Energy” or if the company purchases enough RECs to match the energy use of all its processes.
For example, it may be inconsistent with the FTC guidelines for a facility that has solar power and is also selling the solar RECs to claim the facility is renewably powered.