PECO Approved To Buy Solar Energy Credits


Philadelphia-based PECO, an electric and natural-gas utility subsidiary of Exelon Corp., has received approval from the Pennsylvania Public Utility Commission (PUC) to purchase up to 80,000 solar alternative energy credits – the equivalent of 6 MW – over 10 years as part of the company's ongoing fulfillment of the state's alternative energy portfolio standards (AEPS).

The AEPS legislation requires that, beginning in 2011, more of the energy used by PECO customers be generated from renewable resources such as wind and solar. This requirement is measured by renewable energy certificates (RECs) sold by electric generators on a one-to-one basis each time they produce 1 MWh of renewable energy.

The PUC approved PECO's request to conduct a request for proposals (RFP) to competitively purchase 8,000 solar energy credits each year during 10 years. Both solar farms and businesses and institutions with large rooftop solar panel systems will be eligible to participate.

This competitive RFP will be similar to others PECO has used to purchase RECs in recent years, the utility says.

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