The Pennsylvania House Consumer Affairs Committee held a public hearing yesterday, Wednesday, January 11, 2012, for the Pennsylvania Solar Jobs Bill (HB 1580). The members of the Pennsylvania House primarily focused their questioning and discussion on any potential costs to ratepayers. Representative Todd Stephens (R-151st District) also noted, “The business community is ardently opposed to the bill because of the jobs it would cost through increased costs for job creators.”
Moving forward, however, Representative Chris Ross (R-158th District) acknowledged that he is currently drafting an amendment which would create neutral costs for ratepayers by reducing the SREC requirement on the backend, between years 2016 – 2020, and thereafter, to compensate for the acceleration on the front end. This immediate acceleration, between years 2013 and 2015, would enable the market to balance current supply with growth in solar demand, bringing the SREC market back into equilibrium. The amendment, however, has not been introduced. Therefore, it remains unclear how much the SREC requirement would be reduced on the backend under Representative Ross’s amendment.
There is no scheduled vote on this bill at this time. Sol Systems will continue to follow the progress of this bill and provide any update for you through our blog. If you are interested, you can watch the video for this hearing by clicking here.
About Sol Systems
Sol Systems is a solar energy finance and development firm that was built on the principle that solar energy should be an economically viable energy solution. With thousands of customers and hundreds of partners throughout the United States, Sol Systems is the largest and oldest SREC aggregator. We provide homeowners, businesses, solar installers, and developers with sophisticated financing solutions that help make solar energy more affordable. Sol Systems also helps energy suppliers and utilities manage and meet their solar RPS requirements efficiently by providing them with access to diverse portfolios of SRECs. For more information, please visit http://www.solsystemscompany.com.