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The document outlines the requirements and procedures for professional certification of energy audits in New York City, including filing status, location information, energy audit team structure, professional certifications, and owner statements. It emphasizes the importance of compliance with applicable laws and regulations, detailing the responsibilities of both the energy auditor and the property owner in ensuring accurate and truthful submissions.

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Who regulates renewable energy credits?

Businesses who generate renewable energy, say, by using solar panels, but sell the Renewable Energy Credits (RECs) for the renewable energy they generate shouldn't claim they \u201cuse\u201d renewable energy.

Are RECs expensive?

If you're currently following the REC market in anticipation of buying RECs, however, you've probably noticed a steady climb in pricing. Over the past 15 months, the cost of a Green-e® Certified REC has risen from roughly $1 per REC to almost $8 per REC.

What is the NYSERDA program?

New York State Energy Research and Development Authority NYSERDA offers objective information and analysis, innovative programs, technical expertise, and support to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce reliance on fossil fuels.

How are renewable energy credits tracked?

Tracking systems work by assigning a unique serial number to each megawatt-hour of renewable energy generation, which constitutes a REC. Tracking systems were originally created to facilitate renewable portfolio standard (RPS) compliance, but increasingly, voluntary RECs are also utilizing REC tracking systems.

What is the value of a REC?

Rates for 2015 to 2017 RECS purchased have averaged between $0.15\u2014$0.045 per kWh produced. In 2021, SREC prices range from $10 to over $400 depending on the state SREC market.

What is a Tier 1 REC?

Tier 1 RECs are produced by generators using new renewable energy resources that entered commercial operation on or after January 1, 2015.

Is NYSERDA a state agency?

The New York State Energy Research and Development Authority, known as NYSERDA, promotes energy efficiency and the use of renewable energy sources.

Who provides renewable energy certificates?

There are two main markets for renewable energy certificates in the United States \u2013 compliance markets and voluntary markets. Compliance markets are created by a policy that exists in 29 U.S. states, the District of Columbia, and Puerto Rico, called Renewable Portfolio Standard.

Why are RECs traded?

REC swaps consist of trading RECs to profit from the disparity between the buy and sell price; because many states have varying RPS standards, this increases opportunities to swap.

What is the current price of a REC?

From December 2020 to August 2021, REC prices (nationally sourced, Green-e Eligible) increased from $1.50/MWh to $6.60/MWh.

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