Solar Rec's - Selling Your Soul to the Devil?
I placed a deposit on an array of solar panels sponsored by company in Colorado who is putting up a project in Whiting Vermont. I am a firm believer in renewable energy and am looking to do everything that I can to reduce my footprint. I took money out of my retirement fund to support this project and in return I would get offsets on my electric bill. I was told I would get a 7% annual return on my investment and that the panels would last 30-50 years and the payback would be a little over 10 years. Sounded pretty good. Unfortunately, it was not good enough. While on a bus to the People's Climate March, I ran into a couple of folks that educated me on the REC's- Solar Renewable Energy Credits. Seems that they are credits that are bundled with solar energy created by solar panels. The recs can be bought and sold in the energy markets. Companies sell these credits to companies who most often need them to comply with pollution standards without actually making the necessary ...