Pennsylvania Nuclear Bailout Bill Could Help PA Solar
Pennsylvania lawmakers are crafting a bill that would provide subsidies to keep nuclear plants open. The nuclear plants are not able to cover expenses because power prices on the wholesale market have dropped over the past few years. This is due to the large amount of natural gas brought to market. Cheap gas has already caused the mass closure of Coal plants in areas of the country.
The closure of the Nuclear plants will be devastating because they provide Co2 free electricity. 5 nuclear plants provide 42% of Pennsylvania electricity.
It is expected that the Nuclear bill will include increased incentives for renewable energy. This happened in New Jersey in May 2018.
Depending upon the details of the bill, solar owners may see their SREC prices rise. The article in the Pocono Record gives some details.
DISCLAIMER: Pennsylvania SREC prices are volatile. Buyers and sellers of SRECs must do their own research. The above projections are subject to change as market dynamics change.