Ohio State Senate Passes Amended Nuclear Subsidy Bill, Freezing the State’s RPS by 2026

Posted July 18th, 2019 by SRECTrade.

On July 17th, the Ohio State Senate passed an amended version of House Bill 6, which provides subsidies for two nuclear plants owned by bankrupt FirstEnergy Solutions, coal plants, and utility-scale solar. Just as notably, the bill calls for a permanent freeze of the state’s Renewable Portfolio Standard (RPS) at 8.5% by 2026, a damaging blow to the state’s renewable energy sector. The Bill would also completely eliminate the state’s solar carve out beginning in 2020, gutting a key incentive mechanism for distributed generation solar in the state. Although it is still unclear, ohio-sited solar assets previously participating in the Ohio Solar Renewable Energy Credit (SREC) program, would likely be eligible for the Pennsylvania Tier I REC and Ohio REC market, should the Bill go into law.

After the Ohio House passed a version of House Bill 6 on May 29th, the Bill moved to the Senate where it was met with controversy by lawmakers and stakeholders alike. After a number of amendments to the Bill, including the removal of a provision that would have stunted wind development, it passed on Wednesday morning on the Senate floor. It now goes to the Ohio House for a concurrence vote, where it is expected to be taken up on August 1st.

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