SOLAR BUYERS SAVE $$$, HELP UTILITIES SAVE THE PLANET
The Problem With Rooftop Solar That Nobody Is Talking About; Where does the green energy from your panels really go?
Tim McDonnell, January 2016 (Mother Jones)
University of California-¬Berkeley energy lawyer Steven Weissman discovered the SolarCity contract allows it to retain ownership of the renewable energy credits (RECs), a tradable financial instrument. SolarCity can sell them to help compensate for their no-upfront offers. The biggest buyers of RECs are power companies looking to satisfy state-mandated clean-energy requirements, known as renewable portfolio standards. But that means the homeowner pays to help the utility meet its mandated goal. SolarCity CEO Lyndon Rive argues customers are still part of the climate solution by creating the RECs. And there are other good reasons to go solar, including electric bill savings. The more people adopt solar panels, the more the price drops. A rule of thumb is that every doubling of panel production drives the solar price down 20%. And the noticeable use of solar, the "Prius effect," motivates others, driving growth. click here for more