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NJ 2019 solar REC prices jump in week to Dec. 20; changes modest elsewhere


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NJ 2019 solar REC prices jump in week to Dec. 20; changes modest elsewhere

Renewable energy credit prices were mostly steady during the week ended Dec. 20.

In New Jersey, energy year 2019 solar RECs posted an average at $228.75/MWh, jumping from $221.50/MWh the week before, even as solar supply remains plentiful across the state. According to recent data posted by the New Jersey Office of Clean Energy, as of Oct. 31, the state boasted more than 2,640 MW of solar capacity.

Meanwhile, New Jersey 2019 class I RECs saw an index at $6.07/MWh, a tick above the $6.06/MWh average a week earlier.

During the week under review, Pennsylvania SREC values held unchanged. Reporting year 2019 SRECs in the state were pegged at $13.25/MWh, equal to the average the week prior.

SREC prices in Washington, D.C. were also steady during the week under review, with the 2018 market pegged at an index of $342.50/MWh and the 2019 market at $355.00/MWh.

The Council of the District of Columbia on Dec. 18 unanimously approved a bill establishing a 100% renewable portfolio standard for the nation's capital. Bill 22-904 increases the District's existing RPS of 50% by 2032 to 100% by 2032 and the solar energy mandate to 10% by 2041.

The bill, which amends the Renewable Energy Portfolio Standard Act of 2004, would require utilities operating in the district to source all their electricity from renewable energy over the next 15 years.

It would also mandate utilities to source at least 5% of electricity from solar by 2032, would increase the lifetime eligibility of SRECs from three to five years and would move forward the solar carve-out requirement schedule by two years.

In Maryland, 2019 SREC values at $11.38/MWh were up from $10.50/MWh in the prior week.

As the 2019 Maryland legislative session approaches, solar advocates are rallying support for the Maryland Clean Energy Jobs Act, according to a Dec. 19 SRECTrade blog.

State Senator Brian Feldman and House of Delegates Representative Cheryl Glenn, both Democrats, said in a Dec. 6 article in the Baltimore Sun that "a super-majority of Maryland's General Assembly has pledged to support passage of the MCEJA in 2019."

Among other renewable energy goals and initiatives, the MCEJA calls for a doubling of the state's Renewables Portfolio Standard to 50% by 2030.

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