Rundown on Renewable Energy Credits

Rundown on Renewable Energy Credits: Across the country, many states have taken proactive steps to increase sola...

Rundown on Renewable Energy Credits Friday, August 31st 2012 10:00 AM By GetSolar Staff. Across the country, many states have taken proactive steps to increase solar energy through programs known as renewable energy standards. These laws mandate that utilities must have a certain percentage of their output come from renewable energy sources like solar power by a specific date. To help ensure these goals are reached, many renewable energy standards allow utility companies to buy power created by homeowners and businesses. A photovoltaic system feeds electricity into the main power grid, and the utility company compensates the project's owner. Instead of money, utilities typically buy what are known as renewable energy credits (RECs). These function as proof that the company has contributed a certain amount of clean energy to the main grid and go toward a power company's man...

Full article: http://www.getsolar.com/News/Solar-Energy-Facts/General/R...