On January 17th, 2017, government officials and business leaders from over 70 countries assembled in Davos, Switzerland for the World Economic Forum. During the four-day meeting, the participants discussed a host of exigent global issues. Klaus Schwab, Chairman of the World Economic Forum, introduced this year’s theme, “Responsive and responsible leadership,” and emphasized the importance of having leaders who can help the public navigate the rapidly changing world during the Fourth Industrial Revolution, or the current digital transformation. Among the key topics addressed was energy, specifically in the context of climate change, energy security, and the global economy.
What is an SREC?
Essentially, an SREC represents the environmental/green value derived from 1 megawatt-hour (1,000 kilowatt hours) of solar energy generation. SRECs are tradeable environmental credits distinct from the physical electricity produced by solar systems and can be an additional revenue stream for solar projects.