By Editors of Power Engineering
Pennsylvania Governor Tom Wolf praised a new law that prevents out-of-state solar power generation from qualifying for renewable energy credits.
The law was part of an omnibus bill that was signed by Wolf last month, the Philladelphia Inquirer reported.
“We’re making sure the benefits of increased renewable jobs, a cleaner environment, and a growing renewable economy is going to be felt right here in the commonwealth of Pennsylvania,” Wolf said.
The Inquirer said the state passed a law in 2004 that requires 0.5 percent of electricity to come from solar sources by 2021. As a result, solar installations from over a dozen nearby states sought out the credits and reduced the incentive for solar companies to build installations in Pennsylvania.
Prices for Solar Renewable Energy Credits in Pennsylvania have plunged from $300 per MWh to $5 per MWh, while solar credits in restricted markets trade for much higher, such as $190 in New Jersey and $350 in Washington, D.C.