Pennsylvania SREC » Specifications

Click Here to View Official Pennsylvania RPS Information on DSIREUSA.org

SREC State Eligibility: Pennsylvania, Ohio, and Washington DC

States eligible to sell into the PA SREC Market: Entire PJM Region. DC, DE, MD, NJ, VA, WV and specified locations of IL, IN, NC (please refer to the PJM Regional Map for specific locations).

Utility and energy companies have the ability to procure in and out-of-state SRECs to fulfill their state-mandated compliance obligation. This makes Pennsylvania an avenue for out-of-state solar generators to sell their SRECs. PJM states and regions who do not have in-state mandated market, register can their SRECs in Pennsylvania.

Flett Exchange offers a managed SREC service for Pennsylvania solar generators. Flett Exchange registers Pennsylvania solar facilities directly with the Pennsylvania AEPS Alternative Energy Credit Program. Our full-service SREC solution diligently guides you through this process since the Pennsylvania Utilities Commission (PUC) counts solar generation from the date of application and not from the time the system is interconnected. For more information on PA SRECs, see www.paaeps.com

Eligibility Period:

Pennsylvania SRECs or Solar Alternative Energy Credits (SAECs) are generated for the lifetime of the solar facility. SRECs or SAECs are only recognized from the date of application

Eligibility Inception: Upon date of application to PA AEPS

Energy Year: June 1 - May 31

Tracking System: PJM-GATS

SREC Lifespan:

3 years: A 2011 SREC or SAEC can be counted towards 2011, 2012, or 2013 Pennsylvania Renewable Portfolio Standard (RPS)

Solar Alternative Compliance Payment (SACP):

200% of the solar weighted average price paid by Load Serving Entities (LSEs) that year

Meter Readings:

Solar facilities less than 15kW use estimated generation based upon the PV Watts calculator www.pvwatt.org unless they receive funding from the PA Sunshine Fund. All other solar facilities must report monthly readings

Solar Requirement: .5% of the total electricity generated in 2021

Regulation or Legislation: HB 1128 (effective 2010) HB 2405 (effective 2009) HB 2200 (effective 2008) and HB 1203 (effective 2007)

Energy Year	RPS Solar Requirement	Projected SRECs Required (MWh)	SACP
2008-2009	0.0063%	10,000	$550.15
2009-2010	0.0120%	20,000	TBD 12/2010
2010-2011	0.0203%	33,000	TBD 12/2011
2011-2012	0.0325%	53,000	TBD 12/2012
2012-2013	0.0510%	85,000	TBD 12/2013
2013-2014	0.0840%	140,000	TBD 12/2014
2014-2015	0.1440%	245,000	TBD 12/2015
2015-2016	0.2500%	435,000	TBD 12/2016
2016-2017	0.2933%	515,000	TBD 12/2017
2017-2018	0.3400%	610,000	TBD 12/2018
2018-2019	0.3900%	705,000	TBD 12/2019
2019-2020	0.4330%	795,000	TBD 12/2020
2020-2021	0.5050%	945,000	TBD 12/2021

Contact Information:

Pennsylvania AEPS Program Manager
Clean Power Markets, Inc.
Phone: 1-877-AEPS-773 (1-877-237-7773)
Fax: (610) 444-9213
Email: paaeps@cleanpowermarkets.com

Transfers:

Buyers and sellers of SRECs on Flett Exchange will transfer their certificates on the PJM-GATS Website. When an SREC is traded on the Flett Exchange Platform the buyer sends their payment to Flett Exchange, LLC within 3 business days. The seller immediately transfers the SRECs to "Flett Exchange LLC" on the PJM-GATS platform. Upon receiving the funds from the buyer Flett Exchange makes the funds available to the seller via check and transfers the SRECs to the buyers PJM-GATS account.

Individual and Small Corporate Sellers:

All participants in the SREC market on Flett Exchange have an account in their name. Buyers deposit funds for their SREC purchases with Flett Exchange, LLC. After a deal is completed on the Flett Exchange platform the seller transfers the SRECS to Flett Exchange account within the PJM-GATS website. Flett Exchange will then simultaneously transfer the SRECS to the buyers account on the PJM-GATS website and transfer the appropriate funds from the buyers escrow account at Flett Exchange to the sellers escrow account at Flett Exchange. The Seller can then request a check for the funds.

Flett Exchange customizes buy orders for electric generators required to fulfill RPS requirements. Flett Exchange charges buyers a $5 commission per SREC and acts as a direct representative for electric generators. Once the bulk order is filled Flett Exchange will transfer SRECs to the buyer in one completed contract.

Agreement:

Buyers and sellers agree to abide by the Flett Exchange User Agreement for Unregulated Forward Contracts. Buyers and sellers must log into the Flett Exchange platform with their user name and password and click the "I AGREE" tab for the user agreement. All transfers on Flett Exchange are bilateral in nature and Flett Exchange Does Not Guarantee performance of either party.

Seller shall promptly notify Purchaser of any change in circumstance, which causes the foregoing representation and warranty to no longer be true, including providing a copy of any notice received from the governing entity or otherwise indicating or determining that the Transferred SRECs are no longer RPS-eligible (Non-Eligible SRECs). Purchaser shall not be obligated to pay for Non-Eligible SRECs, and Seller shall be responsible to reimburse Purchaser for any payments made to Seller for Non-Eligible SRECs.

All buyers of SRECs must be aware of the nature of the Certificates. Certificates retire and are worthless at the end of the True-Up period. Buyers of Certificates may lose some or all of the value of the Certificate.

This is not a solicitation to buy or sell SRECS.

Contact your accountant before buying or selling SRECS.

Flett Exchange charges a commission of $2.50 cents per SREC for customers who execute on the Flett Exchange Internet Trading Platform.

Risk Disclaimer:

Flett Exchange, LLC discloses that there risks associated with the buying and selling of spot and long-term Solar Renewable Energy Certificates (SRECs). SRECs can fluctuate in price, be volatile in nature and there is no guarantee that SREC prices will appreciate or decline over time. SRECs are sensitive to economic, political, legislative, regulatory and other unforeseen factors and can experience periods of illiquidity.

Flett Exchange, LLC is an environmental exchange, brokerage and consulting firm. Flett Exchange, LLC facilitates the transaction and monetization of spot and long-term SREC contracts. Under no circumstances can Flett Exchange, LLC be held responsible for the actions, expectations or decisions of participating parties. All parties act on their own accord, cost and expense. All parties agree not to hold Flett Exchange or its officers, employees, subsidiaries or affiliates responsible for any wrongdoings. All parties forgo their right to claims, demands, disputes, controversies, complaints, suits, actions, proceedings and past, present or future allegations against Flett Exchange, LLC.