"Pennsylvania's booming solar industry is going bust"

Solar energy output is outpacing Pa. mandate | Philadelphia Inquirer | 06/05/2011

Last year, Frankel was more enthusiastic about SRECs, when utilities paid him more than $300 for each credit. Now a cloud is gathering over his cash flow. The SREC price has crashed to under $100.

"I think you'd be nuts to build a system in Pennsylvania today," said Frankel, 73. He canceled plans to install a second solar system on his veterinary practice, the Honey Brook Animal Hospital.

Pennsylvania's booming solar industry is going bust.

Attracted by 30 percent federal tax credits and state grants aimed at stimulating pollution-free electricity production, Frankel and thousands of other property owners went solar in the last two years. Taxpayers covered $106,000 of Frankel's 30-kilowatt system, or 57 percent of the cost.
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New Jersey SRECs last year sold for $600 each, or 60 cents per kilowatt-hour.