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Ohio

Ohio

Incentives/Policies for Renewables & Efficiency

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Solar Renewable Energy Credits (SRECs)   

Last DSIRE Review: 08/08/2014
Program Overview:
State: Ohio
Incentive Type: Performance-Based Incentive
Eligible Renewable/Other Technologies: Photovoltaics
Applicable Sectors: Commercial, Industrial, Residential, Nonprofit, Schools, Local Government, State Government, Municipal Utility, Rural Electric Cooperative, Multi-Family Residential, Low-Income Residential, Agricultural, Institutional
Amount:Varies based on market conditions
Maximum Incentive:SREC prices vary based on market conditions
Solar Alternative Compliance Payments made when utilities lack sufficient SRECs are priced by legislation:
2009: $450/MWh
2010 and 2011: $400/MWh
2012 and 2013: $350/MWh
2014, 2015, & 2016: $300/MWh
2017 and 2018: $250/MWh
2019 and 2020: $200/MWh
2021 and 2022: $150/MWh
2023 and 2024: $100/MWh
2025 and beyond: $50/MWh
Terms:Systems must be registered with Public Utilities Commission of Ohio
Installation Requirements:Must be located within the state of Ohio or shown to be deliverable to Ohio if out of state
Start Date:2009
Web Site: http://www.puco.ohio.gov/PUCO/Forms/Form.cfm?id=9464
Authority 1:
Date Enacted:
ORC 4928.64 et seq.
01/01/2009
Authority 2:
Date Enacted:
OAC 4901:1-40 et seq.
12/10/2009
Summary:

Solar Renewable Energy Certificates (SRECs) represent the renewable attributes of solar generation, bundled in minimum denominations of one megawatt-hour (MWh) of production. The legislation creating Ohio's AEPS program, (S.B. 221),  mandates the creation of SRECs and Solar Alternative Compliance Payments (SACPs) to meet the solar energy generation goal of .5% by 2026. To be in complaince with AEPS, Ohio retail electricity suppliers must either purchase or generate SRECs OR pay a Solar Alternative Compliance Payment (SACP) for any shortfalls in SREC purchases. 

SRECs have a lifetime of five years following their initial acquisition. Generators must register with the Public Utilities Commission of Ohio (PUCO) to become a certified facility, eligible to generate SRECs for compliance under Ohio's Alternative Energy Resource Standard (AERS). Once PUCO certification is received, the generator must also register with an attribute tracking system (such as PJM-GATS or M-RETS).

SACP prices were set at $450/MWh by SB 221 in 2009 and were on schedule to drop by $50 every two years until a $50/MWh minimum was met in 2024. In 2014, SB 310 froze the SACP at $300/MWh for 2014, 2015, and 2016, and stipulated that after 2016, SACPs fall by $50 every two years to a minimum of $50/MWh by 2025. Compliance payments will be deposited into the Ohio Advanced Energy Fund, which provides financial support to renewable energy and energy efficiency projects within the state. Utilities may not pass along the cost of compliance payments to their customers. PUCO may grant a force majeure determination, thereby relieving the utilities of their obligation to pay SACP, if utilities are able to prove they were unable to procure enough SRECs to satisfy the requirements due to conditions beyond their control. Historically, utilities have generally been able into compliance without paying the ACP.

Interested system owners must reserve a case number on the web site above. For applications received after December 31, 2012, credit will only be given for generation that occurrred after the facility's application date.


 
Contact:
  Stuart Siegfried
Ohio Public Utilities Commission
180 East Broad Street
Columbus, OH 43215-3793
Phone: (614) 466-7536
Fax: (614) 466-8352
E-Mail: Stuart.Siegfried@puc.state.oh.us
Web Site: http://www.puc.state.oh.us
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.