PECO, Pennsylvania’s largest electric and natural gas utility, has embarked on the second phase of the company’s statewide solar credit procurement program, which will result in 8,000 solar Alternative Energy Credits (AECs) procured from Pennsylvania-based solar generators and aggregators in 2022. The first phase of the RFP will be open to solar providers statewide and the second phase will be targeted toward solar providers located in PECO’s service territory of southeastern Pennsylvania.
PECO’s solar credit procurement program is part of a focused initiative to increase local solar credits by 8,000 annually and create longer-term market pricing for solar credits that will further support the development of local solar generation.
Last April, PECO launched a statewide RFP for 10-year fixed-price contracts for 4,000 annual Pennsylvania-based solar AECs from Tier I Solar Alternative Energy Systems under Pennsylvania’s Alternative Energy Portfolio Standards Act. An additional 4,000 solar alternative energy credits were purchased at the average winning bid price of $34.07 per AEC from local solar providers directly within PECO’s service territory of southeastern Pennsylvania.
The process will be replicated this year, with phase one applications opening on Monday, March 7, 2022. Applicants are required to apply for the minimum annual offer amount of 200 AECs and winning bidders will be selected by lowest bid price.
PECO will host a Solar RFP Overview Conference for interested bidders via Zoom on Wednesday, February 23, 2022, at 11 a.m. EST. More information on how to apply, along with key program dates, is available at www.PECO.com/solarRFP.
News item from PECO