Duke Energy - Solar Renewable Energy Credits Program (Ohio)
Last modified on December 17, 2014.
Financial Incentive Program
|Name||Duke Energy - Solar Renewable Energy Credits Program|
|Incentive Type||Performance-Based Incentive|
|Energy Category||Renewable Energy Incentive Programs|
|Amount|| RECs produced in 2010: 300/REC|
Future RECs will be based on market conditions
|Equipment Requirements||Systems 6 kW or more require an additional meter|
|Installation Requirements|| Must be interconnected to the Duke Energy Ohio grid|
Must comply with Duke energy's net metering requirements
|Ownership of Renewable Energy Credits||Duke Energy Ohio purchases RECs from customer|
|Terms|| System must be registered with the Public Utilities Commission of Ohio|
Customer must establish an account with GATS or M-RETS
|Program Administrator||Duke Energy Ohio|
|Date added to DSIRE||2012-02-08|
|Last DSIRE Review||2014-10-03|
|References||DSIREDatabase of State Incentives for Renewables and Efficiency|
Note: In order to participate in this program, customers must have signed an agreement by December 31, 2012. Check the program web site above for information regarding future solicitations.
Duke Energy Ohio offers the Solar Renewable Energy Credits program to residential customers in Ohio that install solar photovoltaic (PV) systems on their homes. One solar renewable energy credit (SREC) is created when a PV system generates one megawatt (MW) of electricity. The prices are set by market conditions for the year in which the REC was created. The price for RECs in 2010 was $300.
In order to qualify for the program, a customer must register the facility with the Public Utilities Commission of Ohio and establish an account with either the Generating Attributes Tracking System (GATS) or the Midwest Renewable Energy Tracking System (M-RETS). Eligible customers must sign a 15-year purchase agreement with Duke Energy by December 31, 2012 and sign an interconnection agreement with the company. PV systems comply with the standard net-metering requirements of Duke Energy's net metering program, and systems 6 kilowatts (kW) or larger require an additional meter.
Once a customer signs a purchase contract with Duke Energy, RECs will be certified by the tracking company after December 31 of each year. The customer must then transfer the RECs and forward an invoice directly to Duke Energy on or before February 15 in order to receive payment.
|Contact Name||Duke Energy Ohio - SRECs|
|Division||Solar Renewable Energy Credits Program|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.