SRECs are certificates that represent the environmental attributes of solar power and prove solar energy was generated on the purchasers’ behalf. For every megawatt hour of solar renewable electricity generated, one SREC is produced. When fully operational, the five projects planned by Mon Power and Potomac Edison are expected to create more than 87,000 SRECs per year.
With an overall subscription cost of 4 cents per kilowatt hour in addition to normal rates, customers will be able to choose from a variety of SREC subscription levels and term lengths with pricing options that allow for broad participation in the West Virginia solar program. Commercial and industrial customers will be able to choose a subscription level that reflects a percentage of their monthly energy consumption. Residential customers can support the program by purchasing a SREC over time at monthly levels of 50…