Advancing solar-generated electricity across Southeastern Pennsylvania is a top priority for PECO to ensure a cleaner and brighter future for our customers and communities. We have made significant infrastructure investments and promoted policy initiatives to advance the use of this bright, clean energy resource.
Earlier this year, we launched a solar credit procurement program across Pennsylvania. The first phase of this program included a request for proposals to secure 10-year fixed-price contracts for 4,000 annual solar Alternative Energy Credits (AECs) from Tier I solar Alternative Energy Systems across Pennsylvania.
We recently launched the second phase of the program, which will make an additional 4,000 solar AECs available to be purchased annually at the same price of $34.07 from local solar providers within our service territory, more specifically Southeastern Pennsylvania. The price of $34.07 per solar AEC was determined during the first phase of the solar RFP program.
Our solar credit procurement program will not only help to further the growth of solar generation across the state, but it will also create additional opportunities for local solar providers. The second phase of the program is unique to Pennsylvania in that we are specifically aiming to secure solar power on behalf of our customers from PV systems in Southeastern PA.
The RFP will extend PECO’s commitment to solar power by helping to provide a new long-term market for locally generated solar AECs. In 2022, and each year over the next 10 years, an additional 8,000 fixed-price solar AECs will be purchased from the same areas (4,000 from Pennsylvania and 4,000 from Southeastern Pennsylvania).
At the end of the 10-year process, 160,000 solar AECs will have been purchased across the state. This amount of energy represents the equivalent of 2,400 residential solar roof units in total, annually, and will double the number of solar credits purchased by PECO in 10-year agreements.
By procuring long-term contracts, we are helping to create a stable market for solar, and at the same time, supporting the further development of local solar generation. This effort is part of PECO’s larger commitment to a clean energy future, which includes advocating for policies that drive new solar development in Pennsylvania.
Applications for the 4,000 available solar AECs are now open and will be awarded on a first come, first served basis. Interested Southeastern Pennsylvania-based solar providers are required to apply for the minimum annual offer amount of 200 and should visit www.PECO.com/solarRFP for information on how to apply.