Pennsylvania Moves to Protect REC Prices

Pennsylvania Gov. Tom Wolf this week signed into law a provision that will support strong renewable energy credit (REC) prices in the state.

According to the governor’s office, the legislation requires that renewable energy facilities only generate RECs if the power from the facility is delivered to an electricity distributor operating within the commonwealth.

Previously, Pennsylvania allowed those credits to be generated anywhere in the PJM Interconnection region, which covers 13 states. As a result, the governor’s office said, a large supply of credits was available, and RECs, therefore, didn’t have a much value.

“This legislation is a game changer,” Wolf said in a statement. “We are making sure that the benefits of increased renewable jobs, a cleaner environment, and a growing renewable economy will be felt in the commonwealth.”

Also this week, the governor’s office announced that the Commonwealth Finance Authority’s solar energy program will begin accepting applications for more than $30 million in funding for solar energy and community development. Funding will be used to support generation and use of solar energy and the manufacture or assembly of solar equipment in the commonwealth.

Lead image credit: CC0 Creative Commons | Pixabay

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