A renewable energy certificate (REC) is a market-based instrument that represents property rights to the environmental, social, and other non-power attributes of renewable energy generation. Simply put, RECs are issued when one megawatt hour of electricity is generated and delivered to the electricity grid from a renewable energy source. RECs allow building owners to verify their claims of using renewable energy and reduce Scope-2 emissions.
Nexamp can generate,and purchase RECs for our customers allowing building owners to obtain RECs as a part of the value for hosting a community solar project .
NJ - For example, if you were hosting a community solar array on the roof, Nexamp would keep a portion of the lease revenue in an escrow account. At the end of the fiscal year, Nexamp would work with the building owner to purchase RECs using the money from the escrow account. This would allow the building owner to hit their sustainability goals at low to no cost.
NY – In NY, project RECs can be obtained by Nexamp community solar customers. In lieu of a discount, Nexamp will purchase Green-E or project RECs for building owners at no cost. This will allow building and business owners to reach their sustainability goals.