Pennsylvania

Home > Markets > Pennsylvania

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

PA and OH

Tracking Registry

GATS

Energy Year

June - May

Eligible System Locations

PA, OH, NJ, DE, MD, DC, VA, WV, IN (AEP)*, IL (ComEd), KY (AEP), TN (AEP), MI (AEP), NC (Dominion)

* (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.

Market Prices

Solar Requirement

Reaching 0.5% of total electricity generated in 2021.

Meter Readings

Facilities less than 15 kW DC capacity 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. 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.

Eligibility Start Date

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.

SACP

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.

SREC Useful Life

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).

Market Requirements

PA SREC market requirements as currently set by state legislation:

Energy Year % Solar Requirement Estimated SRECs Required (MWh) SACP
2010 0.0120% 17,511 $654.37
2011 0.0203% 30,222 $495.81
2012 0.0325% 47,798 $360.79
2013 0.0510% 74,130 $218.47
2014 0.0840% 123,365 $188.79
2015 0.1440% 213,598 TBD
2016 0.2500% 374,538 TBD
2017 0.2933% 443,802 TBD
2018 0.3400% 519,610 TBD
2019 0.3900% 601,983 TBD
2020 0.4433% 691,097 TBD
2021 0.5000% 787,286 TBD

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.

Start trading SRECs today

Manage your SREC portfolio the smart way with SRECTrade's market leading software

Simplicity icon

Simplicity

Manage your facility and SREC portfolio online with full transparency and control over when and how your SRECs are sold.

Transparency icon

Transparency

We don't lock you into a contract to use our service and we don't take a principal position with your SRECs, so you can rest assured we're always targeting the best prices for you.

Opportunity icon

Opportunity

With over 239 MW of solar facilities under management, we're able to access more transaction opportunities for our clients.


Sign up now