Sol Systems has been awarded a five-year strip of solar renewable energy credits (SRECs) generated by an anticipated 80 rooftop solar systems on single-family households throughout Washington, D.C.
All 80 homes will receive their solar systems at no cost through D.C.’s Solar for All program.
Local nonprofit Solar United Neighbors (SUN), a Solar for All grantee through the district’s Department of Energy and Environment (DOEE), is offering no-cost solar and SREC ownership as part of the Solar for All program. SUN is signing up local homeowners into three solar cooperatives that will see their systems installed by EDGE Energy on a rolling basis. Following system interconnection, the SRECs generated by each co-op will be aggregated into SREC contracts that will be managed by Sol Systems.
The total number of SRECs across the five-year contract is expected to surpass 2,000, though the final total will be based on system size and performance. Sol Systems is contracted to purchase the SRECs from the DC Sustainable Energy Utility (DCSEU) annually for a fixed price.
“Sol Systems is thrilled to have an opportunity to get involved in the Solar for All program here in our hometown of Washington, D.C.,” says Bridget Callahan, director of SREC aggregation for Sol Systems. “Sol got its start in the SREC business, and our team has the depth of knowledge and experience to enable us to maximize value for these homeowners and for the program at large.”
Solar for All aims to bring the benefits of solar energy to 100,000 low- to moderate-income families in Washington, D.C. Since 2016, the DOEE has partnered with organizations across the district to install solar on single-family homes and develop community solar projects to benefit renters and residents in multifamily buildings. Solar for All participants should expect to see a 50% savings on their electricity bill over 15 years. The DCSEU is implementing a new round of Solar for All this year, with $32 million in total funding available over three years.
“We are proud to partner with Sol Systems to make the benefits of solar more accessible to D.C. residents,” says Ted Trabue, director of the DCSEU. “By alleviating the upfront costs of solar energy, income-qualified D.C. homeowners will now have lower energy bills and will not only benefit from owning the system on day one, but will own the SRECs generated from the system after five years.”