The following post is a monthly update outlining the megawatts of solar capacity certified to create SRECs in the PJM GATS solar REC markets that SRECTrade serves. All data is based on the information available in PJM GATS as of the date noted.
The chart above compares the megawatts (MWs) registered in PJM GATS as of March 14, 2017 (the blue bar) to the estimated RPS solar MWs needed to be operational, through the duration of the current reporting year, to meet each market’s RPS targets (the green bar). Note that the Estimated RPS MWs quantity does not take into consideration SRECs eligible from previous reporting years and is only used as an estimate relative to the current MWs registered in PJM GATS. All actual RPS requirements are represented in megawatt hours (i.e. SRECs) required per year. The installed capacity operational over that time will produce SRECs, in addition to any eligible SRECs from previous periods, to end up with the final supply relative to that reporting year’s demand. For estimates on required number of SRECs per reporting year across the SREC markets SRECTrade covers, please visit our state market summary pages.
As of February 28th, 2017, New Jersey had installed a cumulative total of 2,062.5MW of nameplate capacity. Their Solar Installation Report and Solar Pipeline Report can be found online here on the New Jersey Office of Clean Energy website.
Additionally, please note the following in the figures presented above:
OH2017: Represents all OH eligible solar facilities and includes some facilities that are cross-registered in PA. If any systems were eligible in higher priced markets, such as DC, the capacity was excluded from OH eligibility as it could be sold at a higher price in DC.
DE2017: Represents all solar facilities eligible for the DE solar RPS requirement. Some facilities registered in DE are also eligible in PA and could impact that market’s supply.
DC2017: Includes all systems eligible for the DC SREC market. If a system was eligible in another market, it was not included there given the current pricing for DC SRECs.
PA2017: Represents all solar facilities eligible for the PA SREC market. Some systems are cross-registered in OH as well. If a system was eligible in any higher priced markets (i.e. NJ or MD sited systems that cross-registered in PA) they were not included in the total MW balance displayed above.
MD2017: Includes all MD eligible solar capacity registered in PJM GATS as of the date noted. If projects were cross-registered in Washington D.C., the capacity was not allocated to Maryland’s eligible MW total.
NJ2017: The balance noted above represents the 2/28/17 Solar Installation Report reported by Applied Energy Group.
PJM GATS Registered Solar Projects Summary
There are 129,300 facilities across 4,550MW registered in PJM GATS as of 3/14/2017.
471 projects are 1MW or larger in capacity, representing 2,223.7MW or 48.9% of the qualified capacity. There are 124 projects that are 5MW or larger, representing 1,547MW or 34% of all qualified capacity.
Note: SREC requirements for markets without fixed SREC targets have been forecast based on the EIA Report “Retail Sales of Electricity by State by Provider”. Projected SRECs required utilizes the most recent EIA electricity data applying an average 1.0% growth rate per forecast year. The state’s RPS Solar requirement is then multiplied by forecast total electricity sales to arrive at projected SRECs required. Projected capacity required is based on a factor of 1,200MWh, in PJM GATS states, generated per MW of installed capacity per year.