On July 15, 2015 Lawrence Township Public Schools sold 1,351 Solar Renewable Energy Certificates (SRECs) for $227 to $233 each at an auction. The sale reaped $313,434 of revenue which the district applies to tax relief for Lawrence residents.
A sunny day brings more than warmth and brightness to Lawrence Township Public Schools (LTPS), it now brings revenue from the solar panels on the roofs of all seven district schools.
On July 15, 2015 LTPS sold 1,351 Solar Renewable Energy Certificates (SRECs) for $227 to $233 each at an auction. The district earns one SREC for every 1,000 kilowatt hours the solar panels produce. The sale reaped $313,434 of revenue which the district applies to tax relief for Lawrence residents.
The SRECs sold were generated by the solar panels in 2013, 2014 and 2015.
With the most recent sale, LTPS is just under the $2.5 million mark in revenue generated (exactly $2,499,203) since the first sale in March 2010. This revenue is in addition to the energy usage offset by the panels.
Prior to the most recent sale, LTPS last sold SRECs on September 17, 2014. At that time 1,200 SRECs went for $173 each and produced $207,000 of revenue.
The amount earned per SREC fluctuates depending upon supply, demand and regulation. Throughout various auctions since the LTPS panels came on line, the money earned per SREC has ranged from $86 to $678.
With an eye towards the future, on April 15, 2008 the LTPS Board of Education proposed and Lawrence Township residents approved a bond referendum financing solar panel installation on the roofs of all seven schools. After two phases of installation, all schools’ roofs were maxed out with no space available for more panels. Panels in phase two came on line in 2013.
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