A report by Clean Power Research for the Mid-Atlantic Solar Energy Industries Association (MSEIA) and the Pennsylvania Solar Energy Industries Association (PASEIA) found that the states of New Jersey and Pennsylvania deliver some of the most cost friendly solar power to consumers.
The study found that the two state’s delivery of solar power to the electric grid exceeds its costs by such a wide margin that consumers are able to reap more benefits. The solar power is said to deliver a total levelised value ranging from US$256 to US$318/MWh.
The range includes a premium value ranging from US$150 to US$200 per MWh, more than the value of the solar power generated. The solar renewable energy certificates (SREC) in New Jersey cost nearly US$60/MWh and US$20/MWh in Pennsylvania.
Clean Power Research looked at the value of modest solar penetration (15% of utility peak load) in Pittsburgh, Harrisburg, Scranton and Philadelphia, Pennsylvania and in Newark, Atlantic City and Jamesburg, New Jersey.
Dennis Wilson, president of MSEIA noted that the study’s results signified ratepayers in the region are receiving more than a two-to-one return on their investment in solar. He noted that MSEIA’s analysis further demonstrates that SRECs can escalate in price, while still providing net benefits and solar progression.
The full report can be found here.