Solar Renewable Energy Credit Program

City of Palo Alto Utilities (CPAU) currently purchases Solar Renewable Energy Credits (SRECs) to meet the demand for the solar portion of their retail green power program, PaloAltoGreen. This program is a voluntary program through which CPAU customers can support renewable energy development by paying an extra 1.5 cents per kilowatt-hour (kWh) for their electricity needs. CPAU then uses this money to purchase wind and solar power Renewable Energy Credits, or directly install city-owned systems.  In an effort to support solar development within CPAU’s service territory, rather than purchasing SRECs from outside sources, the City Council decided to enter into contracts with their commercial and industrial customers for the purchase of the SRECs associated with their solar installations. CPAU currently pays $50/MWh for SRECs and prices are expected to vary between $30/MWh and $150/MWh in the future.  To learn more, contact:  Customer Service, City of Palo Alto Utilities (CPAU), 250 Hamilton Avenue, 3rd Floor, Palo Alto, CA 94301; 650-329-2241; http://www.city.palo-alto.ca.us/depts/utl/news/details.asp?

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