Pennsylvania's SREC market is fundamentally oversupplied. A variety of federal and state incentives, including SRECs, led to a substantial build-out of solar in the state. Additionally, Pennsylvania is one of two remaining SREC states that allows systems located outside of the state to register for and participate in the PA SREC market, further impacting supply.
For a period of time before January 2011, PA-sited systems were eligible to apply to the DC SREC market; today, PA-sited systems are eligible for both PA and OH, but most systems located in the PJM territory are eligible for certification in PA.
Markets for PA Systems
Eligible System Locations
* (Utility) denotes that the facility must be located in the named utility’s territory in order to be eligible. For example, an Indiana facility must be located in AEP territory to be eligible for PA.
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Reaching 0.5% of total electricity generated in 2021.
Facilities less than 15 kW DC capacity, interconnected prior to May 18, 2017, that did not receive funding from the PA Sunshine program, and do not have a Revenue Grade Meter may be eligible to produce SRECs from estimated generation based on PV Watts estimates. A facility must use actual, metered production if the facility is equal to or greater than 15kW, has a revenue-grade PV meter installed, or if the facility is composed of adjustable tilt PV modules or laminate PV modules, or if the facility was interconnected on or after May 18, 2017. In addition, estimates are not allowed if the facility already has metered generation processed by PJM-GATS, as stated in the GATS Operating Rules, Section 6.3.3 Section d.
The eligibility start date of a system is based on the month of application to the PennAEPS. Facilities on estimates will earn credit beginning with the first full month following application submission to the PennAEPS.
The PA SACP is 200% of the average SREC (solar AEC) price paid by power providers in that year. 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.
PA SRECs have a 3 year useful life (i.e., a 2016 SREC (solar AEC) can be counted towards either the 2016, 2017 or 2018 compliance periods).
PA SREC market requirements as currently set by state legislation:
|Energy Year||% Solar Requirement||Estimated SRECs Required (MWh)||SACP|
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