SREC definition

SREC means a solar renewable energy certificate representing any and all environmental credits, benefits, emissions reductions, offsets and allowances, howsoever entitled, that are created or otherwise arise from a PV System’s generation of electricity, including, but not limited to, a solar renewable energy certificate issued to comply with a State’s renewable portfolio standard.

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SREC means Solar Renewable Energy Credit under the WREGIS system.

SREC means the definition “SRECs”, “RECs” or “Renewable Energy Credits”, as applicable, given in the applicable Project Documents of the applicable Subject Fund, but in any event, includes credits, credit certificates, green tags or similar environmental or green energy attributes (such as those for greenhouse gas reduction or the generation of green power or renewable energy) created by a Governmental Authority of any State or local jurisdiction and/or independent certification board or group generally recognized in the electric power generation industry, and generated by or associated with any Project or electricity produced therefrom. For avoidance of doubt, the “ZREC” offered in Connecticut will not be considered an SREC under the Financing Documents.

Examples of SREC in a sentence

Buyer shall pay the Contract Price for each delivered SREC on or before the Payment Date specified in the applicable Confirmation.
The related Hedged SREC Agreement was originated by the Borrower.
The Hedged SREC Payments are not subject to any law, rule or regulation which would make unlawful the sale, transfer, pledge or assignment of any rights to the Hedged SREC Payments within the regulations set forth with respect to such Hedged SREC Payments.
The transfer, assignment and pledge of the rights to the Hedged SREC Payments is not subject to and will not result in any tax, fee or governmental charge payable by the Borrower to any federal, state or local government, except as paid.
All conditions to the payment of Hedged SREC Payments by the related Eligible Hedged SREC Counterparty have been satisfied or approved, as applicable, and the Eligible Hedged SREC Counterparty’s payment obligation is an absolute and unconditional obligation of the Eligible Hedged SREC Counterparty that is not, by the terms of the related Hedged SREC Agreement, subject to offset for any reason.

More Definitions of SREC

SREC means Solar Renewable Energy Credit (D.C. Official Code §§ 34–1432 - 1433).

SREC means the definition “SRECs”, “RECs” or “Renewable Energy Credits”, as applicable, given in the applicable Project Documents of the applicable Subject Fund, but in any event, includes credits, credit certificates, green tags or similar environmental or green energy attributes (such as those for greenhouse gas reduction or the generation of green power or renewable energy) created by a Governmental Authority of any state or local jurisdiction and/or independent certification board or group generally recognized in the electric power generation industry, and generated by or associated with any System or electricity produced therefrom.

SREC means a tradable solar renewable energy credit, or similar Environmental Attribute, generated by the Site Equipment during the Term of this Agreement.

SREC means a Solar Renewable Energy Certificate which represents one megawatt hour of electricity production from the operation of the Project.

SREC means a New Jersey–eligible Solar Renewable Energy Certificate as defined in N.J. Stat. §§ 48:3-5 1 and 14:8-2.2.

SREC means a solar renewable energy certificate or any other similar credit or certificate issued by a Governmental Authority or pursuant to a program established by, under or in relation to applicable Laws or other directives or policies of a Governmental Authority.

SREC means a solar renewable energy certificate representing environmental credits, benefits, emissions reductions, offsets and allowances, howsoever entitled, that are created or otherwise arise from a PV System’s generation of electricity, including, but not limited to, a solar renewable energy certificate issued to comply with a state’s renewable portfolio standard (including, for the avoidance of doubt, a Solar Renewable Energy Certificate-II issued under New Jersey’s Successor Solar Incentive Program). For the avoidance of doubt, SRECs do not include any renewable energy certificates that are the basis for PBI Payments or TREC Payments or to which a PBI Obligor or a TREC Obligor is given title to under a performance-based incentive program.