CIC Energy Construction to Launch its SREC-REC SWAP Program

Chicago based CIC Energy Construction will begin offering an innovative service under its  SREC-REC SWAP Program. Utility grid interconnected solar PV systems produce 2 distinct attributes: (1) electricity; and (2) an environmental attribute & monetary instrument commonly referred to as Solar Renewable Energy Certificate (“SREC”).  SRECs can be sold at a premium to investor owned utilities, as well as alternative retail suppliers, which are used to meet Solar Carve Out quotas imposed by state legislation. However, selling SRECs and its environmental attributes relinquishes the system owner’s right to make an environmental claim (i.e. green marketing) per regulations set forth by the U.S. Federal Trade Commission. Through its SREC-REC Swap Program, CIC Energy Construction alleviates this dilemma by selling of SRECs on utility compliance markets and replacing the same amount through the purchase of RECs on Voluntary REC markets. The end result is a revenue stream from SRECs, while the system owner preserves the right to make an environmental claim.