Reply to Mayor Bowser's Threat to Solar Renewable Energy Credits (SRECs)

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[quote=jsteele]Mayor Bowser's budget apparently contains a complex gimmick that will result in the market for Solar Renewable Energy Credits (SRECs) plummeting. It is very complex, but involves using money meant for renewable energy projects being shifted to pay the District's own electricity bills. One way Bowser intends to raise money is to instruct energy producers to pay “alternative compliance fees" which will allow them to meet their sustainable energy requirements. Energy suppliers have been meeting these requirements by purchasing renewable energy credits, especially, solar renewable energy credits. If the energy suppliers do as the Mayor directs, the there will be an oversupply of SRECs and prices will tank.

This is very bad news for anyone who purchased solar energy panels with the expectation that SRECs would help pay for their cost.

Here is an article that explains the Mayor's budget changes:

https://washingtoncitypaper.com/article/694421/bowsers-budget-gimmicks-could-cripple-d-c-s-clean-energy-programs-can-the-council-block-them/

And a short video that goes over the topic.

[youtube]https://www.youtube.com/watch?v=n_Ub2CsjtqY[/youtube]

The DC Council is trying to undo the proposed changes, but it is very convoluted and not easy to do. So, the Council may benefit from some encouragement from voters.
[/quote]

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