The following post is a monthly update outlining the megawatts of solar capacity certified to create SRECs in the PJM Solar REC markets SRECTrade serves. All data is based on the information available in PJM GATS as of the date noted.
The chart above compares the megawatts (MWs) registered in PJM GATS as of July 20, 2016 (the blue bar) to the estimated RPS solar MWs needed to be operational through the duration of the current reporting year, to meet each market’s RPS targets (the green bar). Note that the Estimated RPS MWs quantity does not take into consideration SRECs eligible from previous reporting years and is only used as an estimate relative to the current MWs registered in GATS. All actual RPS requirements are represented in megawatt hours (i.e. SRECs) required per year. The installed capacity operational over that time will produce SRECs, in addition to any eligible SRECs from previous periods, to end up with the final supply relative to that reporting year’s demand. For estimates on required number of SRECs per reporting year across the SREC markets SRECTrade covers, please visit our state market summary pages.
Responsibilities for tracking NJ registered capacity have officially transitioned to Applied Energy Group, who delivered their first report on June 13th. As of May 31st New Jersey had installed a cumulative total of 1,732.3 MW of nameplate capacity, 88 MW of which had been installed between the three months from March 1st and May 31st when the auditing responsibility passed over to Applied Energy Group. Their Solar Installation Report and Solar Pipeline Report can be found online here on the New Jersey Office of Clean Energy website. UPDATE: please note that this analysis excludes 46.7 MW of estimated installations (final as-built applications submitted, but not yet processed).
Additionally, please note the following in the figures presented above:
OH2016: Represents all OH eligible solar facilities and includes some facilities that are cross registered in PA. If any systems were eligible in higher priced markets, such as DC, the capacity was excluded from OH eligibility as it could be sold at a higher price in DC.
DE2016: Represents all solar facilities eligible for the DE solar RPS requirement. Some facilities registered in DE are also eligible in PA and could impact that market’s supply.
DC2016: Includes all systems eligible for the DC SREC market. If a system was eligible in another market, it was not included there given the current pricing for DC SRECs.
PA2017: Represents all solar facilities eligible for the PA SREC market. Some systems are cross registered in OH as well. If a system was eligible in any higher priced markets (i.e. NJ or MD sited systems that cross registered in PA) they were not included in the total MW balance displayed above.
MD2016: Includes all MD eligible solar capacity registered in GATS as of the date noted. If projects were cross registered in Washington D.C., the capacity was not allocated to Maryland’s eligible MW total.
NJ2017: The balance noted above represents the 5/31/16 MWs installed reported by Applied Energy Group on 6/13/2016.
PJM GATS Registered Solar Projects Summary
There are 93,644 facilities across 3,264.4 MW registered in GATS as of 7/20/2016.
418 projects are 1 MW or larger in capacity, representing 1,675.4 MW or 51.3% of the qualified capacity. There are 94 projects that are 5 MW or larger. These make up 32.1% of all qualified capacity, 1,050.5 MW total, in PJM.
Note: SREC requirements for markets without fixed SREC targets have been forecast based on EIA Report “Retail Sales of Electricity by State by Provider”. Projected SRECs required utilizes the most recent EIA electricity data applying an average 1.0% growth rate per forecast year. The state’s RPS Solar requirement is then multiplied by forecast total electricity sales to arrive at projected SRECs required. Projected capacity required is based on a factor of 1,200 MWh, in PJM states, generated per MW of installed capacity per year.