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Sustainable Energy Fund Launches New Program to Acquire $20 million in Environmental Attributes
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Tuesday, January 05, 2010
12:08 PM
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Tags:
RECs
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SEF Media Release
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SEF actively supports the small scale renewable energy market with its new "Green to Green Program."
Sustainable Energy Fund (SEF) today announced its planned acquisition of more than $20 million in environmental attributes to support the development of small scale renewable energy generation resources such as solar, wind or biomass.
“SEF has been monitoring Pennsylvania’s renewable energy credit market and is growing concerned that small generation resources are at a disadvantage in favor of large utility scale projects,” stated Jennifer Hopkins, President, SEF. “PECO recently issued an RFP for purchase of solar RECs that required a minimum of 300 RECs be produce from a single system. The average residential system produces 4 RECs annually.” She continued “The economics and motivation are simple. Large utilities like PPL do not generate transmission and distribution revenues from the average homeowner or small business that generated their own electricity behind the meter.”
The Pennsylvania Public Utility Commission recently issued a press release seeking comment on addressing barriers to new solar development in the Commonwealth of Pennsylvania. Renewable Energy Credits are one type of Environmental Attribute often used by Pennsylvania’s electric generation suppliers and electric distribution companies to comply with Pennsylvania’s Alternative Energy Portfolio Standard that requires an annually increasing percentage of electricity generation to come from renewable resources such as wind or solar. SEF’s new program seeks to acquire the rights to these credits as well as other attributes such as carbon credits.
“This new program is very exciting as it utilizes SEF’s unique position as a 501(c)(3) nonprofit, financial expertise and knowledge of renewable energy markets to support the development of residential and small scale commercial renewable generation,” said Jennifer Hopkins. She continued “We are constantly working to develop new programs that support the development of sustainable energy.”
Informational meetings on SEF’s new program dubbed “Green to Green” were be held on January 6, 7 and 8 in Valley Forge, Harrisburg and the Lehigh Valley respectively. For further information on future seminars,please call 610-264-4440 ext 16, or visit www.thesef.org.
Hopkins closed by stating, “The acquisition of these environmental attributes by SEF will not eliminate the unfair practices by the utilities but will help residential and small commercial generators realize value from their investment.”
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