• John Merriam

How Do srecs work?

Updated: Mar 13, 2019



Without proper guidance, the process of registering & selling your Renewable Energy Certificates can end up taking more time than is necessary. Integrity Solar Solutions has created a guideline to help simplify the process of applying and selling Renewable Energy Certificates in states that have Renewable Portfolio Standards Programs. In these states, electric distribution companies and generation suppliers are required to acquire a certain amount of these Renewable Energy Certificates (REC) in order to stay compliant.


What Are SREC’s?

Each time a solar system generates 1,000 kWh of electricity, an SREC (Solar Renewable Energy Credit) is earned for the owner of that solar system. The owner of the solar system will then report the energy production to the SREC tracking system. As a result, the SREC is added to the owners electronic account where it will be assigned a unique serial number. The SREC then becomes a commodity that the owner can now sell to an interested buyer on an exchange platform. This article will walk you through a step by step process of reporting and selling your SRECs. Selling SRECs manually is not your only option. If you do not wish to sell your SRECs manually, there are independent brokers you can work with to assist you in the selling process . Here is a list of brokers’ nationwide:

https://gats.pjm-eis.com/gats2/PublicReports/AggregatorBroker/Broker


Setting up your Electronic Account

First you will need to register an account with the Generation Attribute Tracking System (GATS). This government website allows you to log and track your energy credits. Click the link below and follow the prompts to become a member:

https://gats.pjm-eis.com/GATS2/Accounts/AccountReg/New


Next, complete the PJM-EIS New Account Application, click "Submit for approval" and the GATS administration will review and accept your account.


Once accepted, the next step will be to register your solar system in your GATS account. Log into your GATS account and click "Register BTM or External Generator." Fill in the requested fields and select Photovoltaic as your fuel type. Click next, and enter your NJ Certification Number, then "Submit" for approval.


Entering Data Manually on your Electronic GATS Account – Actual Readings

The first way to enter your data is by inputting the Actual Reading. Here are the steps:

1. Log into your GATS account.


2. You will need to access the “generation entry” screen thru the access tab on the top of the page. Or, you can also scroll down to the access management block and click on “entry” (displayed in green font) listed under the Generation section.






3. Next, select the site address from which you would like to enter generation for. You can also search by generator ID number.




4. Click the “<” or “>” on either side of the plant start date to scroll forward or backwards to enter data manually.



**Data must be entered between the 1st & 15th of the month


5. In the space for “generation” manually type in the kilowatt hours (kWh) generated for that period and click save. It’s ok if you don’t have data for each month. If you miss a few months, simply input the total kilowatt generated in the most recent month. The system will auto populate the data based on the system production estimates. Here is an example:




Transferring your SRECs to an Exchange Platform

In order to sell your SRECs, you will need to transfer them from your GATS electronic account to an exchange platform of your choosing. Here are a few recommended platforms to choose from:

www.flettexchange.com

www.njsrec.com

www.srectrade.com

www.solsystems.com

Once you’ve chosen a platform, create an account directly on that platform’s website.


1. Log into your PJM-GATS account. Then, click on the blue number next to “CEPS”




2. Click on “batch transfer” if you are selling more than one.




3. Select the SREC(s) you would like to transfer and click “transfer” on the top right corner.




4. If all certificates are being sold at the same price, input that selling price into the “default price” section. (Reference the exchange platform for current and past selling prices). Then, select which platform you would like to transfer to and click submit. Select “spot market” for transfer type and click “submit” at the bottom of the page.




For more information on the Generation Attributes Tracking system, please visit

https://www.pjm-eis.com

For more information on transferring and trading on an exchange platform, please reference www.flettexchange.com

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