Ohio

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The Ohio SREC market is oversupplied, much like its neighboring state of Pennsylvania. Under current market conditions, a substantial number of systems sited in PA and other bordering states look to OH to sell SRECs. This is especially true for systems located in states that do not have their own SREC market. However, since Ohio froze its RPS in 2014, the market has struggled with oversupply and an uncertain future.

For a period of time before January 2011, OH systems were eligible to apply to the DC SREC market. Today, OH-sited systems are only eligible to sell into OH or PA. However, several bordering states are eligible for the OH market.

Prior to the 2014 freeze, OH-sited SRECs sold at a premium to SRECs from facilities in bordering states, due to an in-state/out-of-state distinction that was removed as part of the freeze. SRECTrade will be tracking Ohio as it decides what to do as the expiration of the freeze approaches.

Markets for OH systems

PA and OH

Tracking Registry

GATS or MRETS

Energy Year

Jan - Dec

Eligible System Locations

OH, PA, MI, IN, KY, WV

Market Prices

Solar Requirement

Reaching 0.50% of total electricity generated in 2024.

Meter Readings

Systems less than 6 kW must report from a readable meter or inverter showing total production.

Systems over 6 kW must report from a Revenue Grade Meter.

Eligibility Start Date

The eligibility start date is based on the month of application submission to the Public Utilities Commission of Ohio (PUCO).

SACP

The Solar Alternative Compliance Payment (SACP) is the penalty price that electricity suppliers must pay per SREC if they fail to file the required number of SRECs by the end of each compliance period. The OH SACP is set at $300 per SREC for 2013, declining by $50 bi-annually to a minimum of $50 in 2024.

SREC Useful Life

OH SRECs have a useful life of 5 years (i.e., a 2016 SREC can be counted towards any RPS requirement from 2016-2020).

Market Requirements

OH SREC market requirements as currently set by state legislation:

Energy Year % Solar Requirement Estimated SRECs Required (MWh) SACP
2009 0.004% 5,852 $450
2010 0.010% 15,415 $400
2011 0.030% 46,424 $400
2012 0.060% 91,474 $350
2013 0.090% 135,276 $350
2014 0.120% 182,172 $300
2015 0.120% 183,994 $300
2016 0.120% 185,834 $300
2017 0.150% 234,615 $250
2018 0.180% 284,354 $250
2019 0.220% 351,019 $200
2020 0.260% 418,989 $200
2021 0.300% 488,283 $150
2022 0.340% 558,921 $150
2023 0.380% 630,923 $100
2024 0.420% 704,310 $100
2025 0.460% 779,101 $50
2026 0.500% 855,317 $50
2027 0.500% 863,870 $50
2028 0.500% 872,509 $50

Source: EIA Report "Retail Sales of Electricity by State by Sector by Provider (EIA-861)" updated 3/23/15. Projected SRECs Required utilizes the most recent EIA electricity data applying an average 1.0% growth rate per forecast year. RPS Solar Requirement is multiplied by forecast total electricity sales to arrive at Projected SRECs Required. Projected Capacity Required is based on a factor of 1,200 MWh generated per MW of installed capacity per year. Projected Capacity Required assumes the amount of capacity needed to be operational all year to meet that year's RPS requirements with only current vintage SRECs.

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