Solar Renewable Energy Credits (SRECs) (Ohio)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Ohio

Name Solar Renewable Energy Credits (SRECs)
Incentive Type Performance-Based Incentive
Applicable Sector Commercial, Industrial, Residential, Nonprofit, Schools, Local Government, State Government, Municipal Utility, Rural Electric Cooperative, Multi-Family Residential, Low-Income Residential, Agricultural, Institutional
Eligible Technologies Photovoltaics
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs
Amount Varies based on market conditions







Start Date 2009




Installation Requirements Must be located within the state of Ohio or shown to be deliverable to Ohio if out of state


Maximum Incentive SREC prices vary based on market conditions

Solar Alternative Compliance Payments made when utilities lack sufficient SRECs are priced by legislation:
2009: 450/MWh
2010 and 2011: 400/MWh
2012 and 2013: 350/MWh
2014, 2015, and 2016: 300/MWh
2017 and 2018: 250/MWh
2019 and 2020: 200/MWh
2021 and 2022: 150/MWh
2023 and 2024: 100/MWh
2025 and beyond: 50/MWh










Terms Systems must be registered with Public Utilities Commission of Ohio
Program Administrator Public Utilities Commision of Ohio
Website http://www.puco.ohio.gov/PUCO/Forms/Form.cfm?id=9464
Date added to DSIRE 2010-08-26
Last DSIRE Review 2014-08-08



References DSIREDatabase of State Incentives for Renewables and Efficiency[1]


Summary

Solar Renewable Energy Certificates (SRECs) represent the renewable attributes of solar generation, bundled in minimum denominations of one megawatt-hour (MWh) of production. The legislation creating Ohio's AEPS program, (S.B. 221), mandates the creation of SRECs and Solar Alternative Compliance Payments (SACPs) to meet the solar energy generation goal of .5% by 2026. To be in complaince with AEPS, Ohio retail electricity suppliers must either purchase or generate SRECs OR pay a Solar Alternative Compliance Payment (SACP) for any shortfalls in SREC purchases.


SRECs have a lifetime of five years following their initial acquisition. Generators must register with the Public Utilities Commission of Ohio (PUCO) to become a certified facility, eligible to generate SRECs for compliance under Ohio's Alternative Energy Resource Standard (AERS). Once PUCO certification is received, the generator must also register with an attribute tracking system (such as PJM-GATS or M-RETS).


SACP prices were set at $450/MWh by SB 221 in 2009 and were on schedule to drop by $50 every two years until a $50/MWh minimum was met in 2024. In 2014, SB 310 froze the SACP at $300/MWh for 2014, 2015, and 2016, and stipulated that after 2016, SACPs fall by $50 every two years to a minimum of $50/MWh by 2025. Compliance payments will be deposited into the Ohio Advanced Energy Fund, which provides financial support to renewable energy and energy efficiency projects within the state. Utilities may not pass along the cost of compliance payments to their customers. PUCO may grant a force majeure determination, thereby relieving the utilities of their obligation to pay SACP, if utilities are able to prove they were unable to procure enough SRECs to satisfy the requirements due to conditions beyond their control. Historically, utilities have generally been able into compliance without paying the ACP.


Interested system owners must reserve a case number on the web site above. For applications received after December 31, 2012, credit will only be given for generation that occurrred after the facility's application date.


Incentive Contact

Contact Name Stuart Siegfried
Department Ohio Public Utilities Commission

Address 180 East Broad Street

Place Columbus, Ohio
Zip/Postal Code 43215-3793
Phone (614) 466-7536


Email Stuart.Siegfried@puc.state.oh.us
Website http://www.puc.state.oh.us
     
     

Authorities (Please contact the if there are any file problems.)

Authority 1: ORC 4928.64 et seq.

Date Enacted 2009-01-01


Authority 2: OAC 4901:1-40 et seq.

Date Enacted 2009-12-10


















  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency"