Pennsylvania SREC Market
Pennsylvania has one of the most perplexing SREC markets (Called solar alternative energy credits or solar AECs in PA). Given the size of the state, it should develop into one of the most robust markets in the region over the next few years. However, it is still in the early stages of a fully-functioning market. Since the program is in its infancy, the actual solar requirement during the first few years is fairly minimal. In addition, PPL and PECO represent over 50% of the electricity in the market and both have been exempt until 2010 for PPL and 2011 for PECO. Finally, there is no defined SACP in Pennsylvania which creates very little price certainty. The fine is set at double the average price of SRECs purchased in an energy year by LSEs and is not published until 6 months after the the end of the energy year. So all the trading in PA is based on estimates of the SACP. For more general information on PA SREC Programs, click here.
Pricing:
SREC Auction - Auction closing prices history
PA Long Term Forwards Contracts - Information on long term contracts for PA SRECs
PA Prepaid SREC Forwards - Information on prepaid contracts for PA SRECs
Other states in which Pennsylvania facilities are eligible:
District of Columbia SREC Market
Ohio SREC Market
States Eligible for PA Market: Any solar photovoltaic facility in the PJM Region is eligible to be certified. Solar thermal facilities that replace electric hot water heaters can be registered as energy efficiency (EE) credits, not SRECs.
Eligibility Period: PA SRECs (PA SAECs) can be generated for the life of the system. The program manager will only recognized generation from the date of application. If you have registered in another state prior to application AND the SRECs have already been created, then PA will recognize them. If the prior generation SRECs are not created before the application, then PA will not recognize them. It is best to apply in DC first, generate the SRECs, and then submit applications to PA if your system has been online for some time.
Energy Year: June 1 to May 31
Tracking Platform: GATS
SREC Useful Life: 3 years - a 2010 SREC (solar AEC) can be counted towards either the 2010, 2011 or 2012 RPS
Solar Requirement: Reaching 0.5% of total electricty generated in 2021
SACP: 200% of the average SREC (solar AEC) price paid by LSEs in that year
Meter Readings: Facilities under 15kW eligible for estimated generation based on the PV Watts calculation, unless they receive funding from the PA Sunshine Fund. All other facilitiies must report monthly readings.
Eligibility Begins: At date of application to PA AEPS
| Energy Year |
RPS Solar Requirement |
Projected SRECs Required (MWh) |
SACP |
| 2008-09 |
0.0063% |
10,000 |
$550.15 |
| 2009-10 |
0.0120% |
20,000 |
TBD 12/2010 |
| 2010-11 |
0.0203% |
33,000 |
TBD 12/2011 |
| 2011-12 |
0.0325% |
53,000 |
TBD 12/2012 |
| 2012-13 |
0.0510% |
85,000 |
TBD 12/2013 |
| 2013-14 |
0.0840% |
140,000 |
TBD 12/2014 |
| 2014-15 |
0.1440% |
245,000 |
TBD 12/2015 |
| 2015-16 |
0.2500% |
435,000 |
TBD 12/2016 |
| 2016-17 |
0.2933% |
515,000 |
TBD 12/2017 |
| 2017-18 |
0.3400% |
610,000 |
TBD 12/2018 |
| 2018-19 |
0.3900% |
705,000 |
TBD 12/2019 |
| 2019-20 |
0.4330% |
795,000 |
TBD 12/2020 |
| 2020-21 |
0.5050% |
945,000 |
TBD 12/2021 |
Useful Links:
Pennsylvania Client Forms - All the forms necessary to sign up for SRECTrade's EasyREC service
New to Solar? - Getting Started - The nuts and bolts of getting started generating and selling SRECs
Pennsylvania Blog - Starting point for useful information regarding the Pennsylvania SREC market
Registering in Pennsylvania - Application details from the PA AEPS Program
Cross-Listing your SRECs - Cross-Registering your system outside Pennsylvania
DSIRE: Pennsylvania RPS - Details on the Renewable Portfolio Standard
The image below shows a map of the PJM Region. Any facilities cited within the territories highlighted are eligible to participate in the DC and PA SREC programs.
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