Viridian brings cheap green power to Massachusetts
New Jersey has made a big splash in the past few years by becoming the second-largest market for solar power in the U.S. The Connecticut-based electricity provider Viridian capitalized on this emerging market to provide homeowners the opportunity to make use of renewable electricity.
One of the policies that helps pay for solar panels is the renewable portfolio standard, requiring utilities to provide a certain proportion of renewable electricity. These companies will buy certificates representing the production of green energy, and customers who are willing to pay for these certificates can help support renewable electricity.
However, Viridian helps support the market by buying up certificates when they are cheap and selling them below market prices later, helping utilities and consumers to save money while still supporting green power.
"People will be able to go three times greener than the state mandates today and save money while doing it," Charles Hausmann, who has started the South Shore Green Team to help push renewable energy, told the Globe.
According to the Database of State Incentives for Renewables and Efficiency, Massachusetts requires only 2 percent of power come from alternative energy in 2011, rising to 2.5 percent in 2012.