PECO Seeks Approval To Purchase Solar RECs

In a plan recently filed with the Pennsylvania Public Utility Commission (PUC), PECO is seeking approval to purchase 6 MW of solar renewable energy certificates (RECs) as part of the company's ongoing fulfillment of the state's Alternative Energy Portfolio Standards (AEPS). If approved, this purchase would make PECO the first Pennsylvania utility to purchase and bank solar credits, PECO says.

‘As an energy company, being environmentally responsible is not just a nice thing to do; it is the right thing to do,’ says Denis O'Brien, PECO's president and CEO. ‘The increased use of renewable types of energy is an important part of our efforts. By acting now, in advance of the requirement, we are helping encourage new solar projects and the development of the renewable energy market in Pennsylvania.’

The AEPS legislation requires 3.5% of the energy used by PECO customers to be generated from renewable resources such as wind and solar by 2011. These requirements are measured by RECs. To fulfill these requirements, the company seeks PUC approval to conduct a request for proposals to purchase 80,000 solar energy credits during 10 years. Both solar farms and companies with large rooftop solar panel systems would be eligible to participate.

SOURCE: PECO

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