Written by: Leonard Parker | Solar News | 15th April
PECO, Pennsylvania’s largest electric and natural gas utility, is establishing a long-term, solar renewable energy credit procurement program. This will provide a new market for Pennsylvania-based solar alternative energy credits AECs) and will double the number of solar credits purchased by PECO in 10-year agreements.
Details: Starting April 20, PECO is running a statewide RFP for 10-year fixed-price contracts for 4,000 annual AECs from Tier I solar Alternative Energy Systems under Pennsylvania’s Alternative Energy Portfolio Standards Act. An additional 4,000 solar alternative energy credits will be purchased annually at the same price from the RFP from local solar providers within the PECO service territory, more specifically, Southeastern Pennsylvania. Black & Veatch will serve as RFP Monitor.
In 2022, PECO will purchase 8,000 additional fixed-priced solar alternative energy credits, and by the end of the 10-year process, the company will purchase 160,000 solar alternative energy credits. Not only will this program help to further the growth of solar generation on our region, the longer-term contracts will help to create a stable market for solar energy.