Your solar energy credits can fund installations in communities who need it most.
NOTE: The following article was sponsored by the Philadelphia Green Capital Corporation, which provided us compensation for publishing it. However, the views and opinions expressed in this article do not necessarily represent those of The Local. While our team has reviewed this content to ensure it aligns with our commitment to high-quality and accurate reporting, this article should be seen as promotional material intended to inform readers about the sponsor’s products, services, or industry. Conducting your own analysis before making any investment or purchase based on your circumstances is essential.
Happy Earth Month! Let’s talk about clean, safe, reliable energy for everyone. This goal isn’t as far of a reach for Philadelphia as you might think, thanks to Share the Sun, an exciting new program that uses clean energy credits to cover solar installation costs for low-to-moderate-income families.
You’ve probably heard that homeowners can make money off the excess power their panels generate which is true, but not quite that simple. In Pennsylvania, homeowners earn “Solar Renewable Energy Certificates” – one for every megawatt-hour, with the average household producing three to five every year. Value for SREC’s fluctuate with market conditions, but generally in Philadelphia the average going rate is $46 per SREC, which adds up to $138 – $230 per year for the typical home.
Payouts are a little complicated, though. There’s paperwork to register your system, and also an annual broker fee. For many homeowners, cashing out SREC’s is understandably more of hassle than an incentive. Here’s where Share the Sun comes in.
Homeowners and businesses can now donate their SREC’s to a local green non-profit who takes that revenue to fund solar installation in neighborhoods where clean, affordable energy can make a real impact. Reliable power is needed every day for cooking, cleaning, heating, cooling, learning, communicating and more. It’s a fundamental human right, and a key to safe, healthy neighborhoods we can all enjoy.
Solar energy in Philadelphia has so far been embraced by our affluent communities, and now we’re looking to these same property owners to help make our city greener. With Share the Sun, solar power can literally fund its own expansion, pushing out fossil fuels and pushing back on climate change one home at a time.
This year, the goal is 100 households by June. Please consider donating your SREC’s towards a more sustainable, equitable, and climate-resilient city for everyone.
Sign up for SHARE THE SUN this Earth Month at phillygreencapital.org/sharethesun.
EARTH WEEK 2023 (April 16 @ 8am – April 21 @ 5pm)
PGCC hosts great programming and workshops in partnership with the Philadelphia Energy Authority. Learn how residents, nonprofits, and communities can invest in our planet and our city! For more information visit philaenergy.org.
This content made possible by Share the Sun, a project of the Philadelphia Green Capital Corporation, the nonprofit green bank affiliate of the Philadelphia Energy Authority.
WHAT’S A GREEN BANK?
Green banks offer specialty financing tools to grow the clean energy economy through projects that support renewable energy and environmental wellness. There are over 20 Green Banks in the United States, serving state and local climate goals. Since 2011, more than $7 billion has been generated in clean energy investment, followed by $370 billion in tax credits in 2022 – a massive win for the climate that green banks are poised to build on.