Ohio

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Because Ohio does not have a solar carve-out, SRECs in the state participate in the broader, unambitious Renewable Portfolio Standard (RPS). The RPS market is chronically oversupplied, keeping REC prices low. Additionally, the RPS requirements are scheduled to end in 2026. As a result, it is typically more profitable for Ohio-sited solar systems to sell their RECs in the Pennsylvania Tier-I REC market or Virginia REC Market.

When the Ohio SREC market was established in 2008, the state's renewable energy targets, solar carve-out, and high SACPs supported a valuable SREC market. However, in 2014, Ohio enacted policy changes aimed at reducing RPS compliance costs. The state delayed its RPS standard and allowed out-of-state solar facilities to participate in Ohio's SREC market. Further, in 2019, the state eliminated the solar carve-out, reduced the RPS targets, and ended all RPS requirements in 2026. These changes significantly slowed SREC demand while dramatically expanding supply, causing SREC prices to collapse.

Markets for OH systems

OH SREC, PA Tier-I and VA RECs

Tracking Registry

GATS or MRETS

Energy Year

Jan - Dec

Eligible System Locations for OH SREC

OH, IN, KY, MI, PA, WV

Market Prices

OH

Latest Bid Price:

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Solar Requirement

The solar requirement was phased out in 2020. SRECs can be used towards the general RPS requirements, which end in 2026 (see table below).

Meter Readings

Systems less than 6 kW must report from a readable meter or inverter showing total production.

Systems over 6 kW must report from a Revenue Grade Meter.

Eligibility Start Date

The eligibility start date is based on the month of application submission to the Public Utilities Commission of Ohio (PUCO).

SACP

The Solar Alternative Compliance Payment (SACP) is the penalty price that electricity suppliers must pay per SREC if they fail to file the required number of SRECs by the end of each compliance period. The OH SACP is was set at $300 per SREC for 2013, supporting a strong market. However the SACP was eliminated when the solar carve-out was eliminated in 2020.

The RPS has a ACP that is set at a minimum of $45, and is determined annually for inflation, as shown in the table below. Because of credit over-supply, the ACP does not influence the REC values

SREC Useful Life

OH SRECs have a useful life of 5 years (the year they are generated and the following 4 years).

Market Requirements

OH SREC market requirements as currently set by state legislation:

Energy Year	% Solar Requirement	SACP	RPS Requirement	RPS ACP
2009	0.004%	$450	0.25%	$45
2010	0.010%	$400	0.5%	$45
2011	0.030%	$400	1.0%	$45.93
2012	0.060%	$350	1.5%	$47.56
2013	0.090%	$350	2.0%	$48.56
2014	0.120%	$300	2.5%	$49.22
2015	0.120%	$300	2.5%	$49.96
2016	0.120%	$300	2.5%	$49.75
2017	0.150%	$250	3.5%	$50.24
2018	0.180%	$250	4.5%	$51.31
2019	0.22%	$200	5.5%	$52.62
2020	0%	N/A	5.5%	$53.49
2021	0%	N/A	6.0%	$54.14
2022	0%	N/A	6.5%	$56.99
2023	0%	N/A	7.0%	$61.81
2024	0%	N/A	7.5%	$64.17
2025	0%	N/A	8.0%	$66.01
2026	0%	N/A	8.5%	TBD
There are no requirements for years after 2026

Market Resources

Latest State News

No recent blog posts for this state

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