Yes, PENETRATION is a Scrabble word!

Letter values in Scrabble US: P 3, E 1, N 1, E 1, T 1, R 1, A 1, T 1, I 1, O 1, N 1.

Is it a valid word?

PENETRATION is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

an attack that penetrates into enemy territory
clear or deep perception of a situation
the act of entering into or through something
the ability to make way into or through something
the depth to which something penetrates (especially the depth reached by a projectile that hits a target)
the act (by a man) of inserting his penis into the vagina of a woman