Tesla now keeps all the SRECs [SREC = Solar Renewable Energy Credits]

[willow_hiller]

So I live in Virginia and didn't see anything listed on the incentive page for my state regard SREC. I see that the system pricing is different for neighboring states (MA) where the is an SREC credit is included in the system price as a line item. I don't see any mention of SREC on any of the my pricing, or documentation I have signed already (Solar Loan Agreement & Retail Installment Contract). I am currently waiting for my Site Assement (Next week).

Is it possible this is just not something Tesla is persuing in my state OR is this just something looming further in the process?

As far as I can tell, Virginia doesn't have an SREC market yet. On SRECTrade they have a page set up for it, which describes some renewable energy portfolio policy passed in 2020, but they don't have a market price, yet: SRECTrade | SREC Markets | Virginia | VA

Compare to Maryland, where they show the market prices for SRECs over time: SRECTrade | SREC Markets | Maryland | MD

So presumably if you were to purchase a system from Tesla before the market for SRECs in Virginia started, you'd be able to register your system's production in the market once it starts.

 

[RK_Tessla]

So I live in Virginia and didn't see anything listed on the incentive page for my state regard SREC. I see that the system pricing is different for neighboring states (MA) where the is an SREC credit is included in the system price as a line item. I don't see any mention of SREC on any of the my pricing, or documentation I have signed already (Solar Loan Agreement & Retail Installment Contract). I am currently waiting for my Site Assement (Next week).

Is it possible this is just not something Tesla is persuing in my state OR is this just something looming further in the process?

Same here, I started the process back in Feb. Did couple of design changes due to my EV order. Mine is currently in the last step before installation. I read in couple of forums, that many people in virginia are able to sell their srec's (eg

https://www.reddit.com/r/solar/comments/uwjr7q

).

I'm trying to see if we have to do anything to request tesla for setting up our accounts to sell srec. Hoping to have the the system installed within the next month or 2.

 

[MKurzdorfer]

Thank you for the Intel @willow_hiller @RK_Tessla. A co-worker of mine who recently installed solar (not Tesla) had let me know that he was able to sell his SREC's for $70 this week. He said it had just opened up to his knowledge.

 

[willow_hiller]

Thank you for the Intel @willow_hiller @RK_Tessla. A co-worker of mine who recently installed solar (not Tesla) had let me know that he was able to sell his SREC's for $70 this week. He said it had just opened up to his knowledge.

I'll have to ask SRECTrade about it. Maryland, Pennsylvania, and Virginia seem to share a registration in GATS, so my account has always said my system is registered in those three states. Maryland SREC prices just dropped to below $60 per MWh, so maybe I can get $10 more by selling in VA.

 

[trautmane2]

Thanks @MKurzdorfer for alerting me that SRECs are now an option for Virginians. Earlier this morning I tried to start the process for registering my solar roof with SREC Dashboard . A question for the Marylanders @willow_hiller and @wjgjr who have been doing this: do you have to give your SREC broker access/credentials to Tesla APIs so the broker sees your system's production or do you self report production or ??? How does that work?

 

[willow_hiller]

Thanks @MKurzdorfer for alerting me that SRECs are now an option for Virginians. Earlier this morning I tried to start the process for registering my solar roof with SREC Dashboard . A question for the Marylanders @willow_hiller and @wjgjr who have been doing this: do you have to give your SREC broker access/credentials to Tesla APIs so the broker sees your system's production or do you self report production or ??? How does that work?

For systems under 10 kW AC, in Maryland, you're allowed to use estimated production. So I believe that's what @wjgjr does. For my system, it was installed by Tesla, but equipped with a SolarEdge inverter. I was able to request from Tesla access to the SolarEdge monitoring site, and I was able to give API access from there to SRECTrade for automatic production reporting.

But for those without an API, you're allowed to manually enter production. It's somewhat of an honor system, but they also have all your system specifications recorded, so it would be easy to catch someone exaggerating too greatly.

 

[driver7]

To confirm, yes, VA has an active SREC market and I have been receiving payments since January 2022 for my non-Tesla PV system.

One tip: I got paid for 2021 production as well in that initial January sale since my system was installed in 2019 and operating in 2021.

 

[pmgriphone]

Looks like Tesla added an SREC exhibit to my contract somewhere after I submitted online the original purchase agreement without properly disclosing that they made changes to the original purchase agreement and what the changes entailed. Tesla is now claiming they own my SRECs.

How do I go about getting my SRECs back? I have contacted Tesla by email, but they are playing hardball and although I requested to escalate the matter to their legal department, they will not do it.

Anyone been in this situation? I would like to void the SREC part of the purchase agreement as it was snug in there without my knowledge and without proper disclosure.

 

[lensovet]

Looks like Tesla added an SREC exhibit to my contract somewhere after I submitted online the original purchase agreement without properly disclosing that they made changes to the original purchase agreement and what the changes entailed. Tesla is now claiming they own my SRECs.

How do I go about getting my SRECs back? I have contacted Tesla by email, but they are playing hardball and although I requested to escalate the matter to their legal department, they will not do it.

Anyone been in this situation? I would like to void the SREC part of the purchase agreement as it was snug in there without my knowledge and without proper disclosure.

When did you place your order? The SREC discount would have been there from the outset. It has been impossible to keep SRECs for nearly a year at this point.

 

[pmgriphone]

When did you place your order? The SREC discount would have been there from the outset. It has been impossible to keep SRECs for nearly a year at this point.

Order was placed originally in Feb 2021. System didn't get installed till Oct 2021.

 

[lensovet]

The assignment of SRECs is a separate form that must be signed. If you signed it, I’m not sure what recourse you’d have.

 

[TesslaBull]

(moderator note)

Merged from a newly created thread into this existing one on the topic
====================================

I was ready to accept the system design for a 12kW system with Tesla, until I read over the agreement which stated that Tesla is giving me a one time discount of about $1,100 off the price of the system, and they receive all future SRECs forever. This is a terrible idea. I plan to get a handful of quotes now from competitors to see who can get as close as possible to Tesla's price while allowing me to keep all SRECs. I mean, there always the risk that SREC's go down a bunch, but there is certainly a good possibility that SREC's skyrocket as clean energy is embraced.

Thoughts? Does Tesla always keep SREC's???

 

[lensovet]

SRECs are gone in NJ, you now get a fixed rate for the life of the system via the SuSI program. Residential systems under 5 MW get a fixed $90 per MWh generated. See Administratively Determined Incentive (ADI) Program | NJ OCE Web Site

When I did the math for my system, independent installers would break even around year 8-10. If you have a Tesla vehicle, having Tesla solar is helpful as it is able to coordinate between the two and you can manage it all from the same app. Note that there are independent installers who can install the Tesla system too.

 

[TProfit]

SRECs are gone in NJ, you now get a fixed rate for the life of the system via the SuSI program. Residential systems under 5 MW get a fixed $90 per MWh generated. See Administratively Determined Incentive (ADI) Program | NJ OCE Web Site

When I did the math for my system, independent installers would break even around year 8-10. If you have a Tesla vehicle, having Tesla solar is helpful as it is able to coordinate between the two and you can manage it all from the same app. Note that there are independent installers who can install the Tesla system too.

The NJ system is so convoluted, first it was SREC, then TREC now SuSI....

Each time the value of your MWh seems to have gone down as well. At this point I'm beginning to wonder if it is better to just take the upfront discount from Tesla and run or fight to keep the credits and figure out where and how to sell them yourself? Your only able to use then for 15 years in NJ anyway.

 

[TesslaBull]

The ~$1100 upfront discount Tesla is offering comes out to ~$4,500 using a 7% inflation adjusted rate of return over 20 years. $4500 is about what one of the local installers estimated the 20 year SREC value at.......still seems a bit low.

Just don't want to fast forward 10 years and be losing $1k-$2k year of incentives forever.

 

[lensovet]

The NJ system is so convoluted, first it was SREC, then TREC now SuSI....

Not sure what's convoluted about it. Any particular installation only deals with a particular credit scheme. Yes, every iteration has reduced the incentives, because that's kind of the point. When demand is low, prices are high, incentives are high to encourage people to install. As more people install, prices come down, and incentives come down as well. Exactly the same way the EV credits worked until they got changed last year.

The ~$1100 upfront discount Tesla is offering

Where are you getting 1100? I put in a 4.8 kW system, the smallest Tesla offers, and I'm seeing a $3,696 credit. Your location says PA? Are you in PA or NJ?

 

[TesslaBull]

Not sure what's convoluted about it. Any particular installation only deals with a particular credit scheme. Yes, every iteration has reduced the incentives, because that's kind of the point. When demand is low, prices are high, incentives are high to encourage people to install. As more people install, prices come down, and incentives come down as well. Exactly the same way the EV credits worked until they got changed last year.

Where are you getting 1100? I put in a 4.8 kW system, the smallest Tesla offers, and I'm seeing a $3,696 credit. Your location says PA? Are you in PA or NJ?

PA. Yep, $1100 credit for a 12.4 kW system

Competitors bid estimates first three years SRECs at $1600.

 

[TProfit]

Not sure what's convoluted about it. Any particular installation only deals with a particular credit scheme. Yes, every iteration has reduced the incentives, because that's kind of the point. When demand is low, prices are high, incentives are high to encourage people to install. As more people install, prices come down, and incentives come down as well. Exactly the same way the EV credits worked until they got changed last year.

Where are you getting 1100? I put in a 4.8 kW system, the smallest Tesla offers, and I'm seeing a $3,696 credit. Your location says PA? Are you in PA or NJ?

I understand how the system works. That's not the issue. The convoluted part is figuring out what system is what, which system you as a new solar owner need to use, how to apply, set up and get it started. And from what I'm reading, working through this process from application to payment is beyond painful. It's definitely worth it in the end but just saying NJ doesn't make the process very easy.

 

[driver7]

I understand how the system works. That's not the issue. The convoluted part is figuring out what system is what, which system you as a new solar owner need to use, how to apply, set up and get it started. And from what I'm reading, working through this process from application to payment is beyond painful. It's definitely worth it in the end but just saying NJ doesn't make the process very easy.

Services like srectrade.com can do the work for you (for a fee). They aren’t cheap but they handle everything for you in terms of setting up the application to sell SRECs, actual selling, deposits, etc. It’s a “set it and forget it” kind of system to maximize your SRECs.

 

[lensovet]

PA. Yep, $1100 credit for a 12.4 kW system

Competitors bid estimates first three years SRECs at $1600.

Then whatever mod put your message in this thread was wrong to do it, as this thread was about NJ SRECs specifically.

I’m not sure how the PA system works. I would encourage you to do the research yourself because I don’t think Tesla would be lowballing you that much if you’re saying the “crossover” point is less than three years.