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RFP alert: PECO looks to spur solar development with a credit purchase program

Pennsylvania’s largest electric and gas utility, PECO, has launched a long-term solar renewable energy credit procurement program, aiming to double the number of solar credits purchased by PECO in 10-year agreements.

Starting April 20,  PECO will run a statewide request for proposals (RFP) for 10-year fixed-price contracts for 4,000 annual Pennsylvania-based solar Alternative Energy Credits (AECs) from Tier I solar systems. An additional 4,000 solar AECs will be purchased annually at the same price from the RFP from local solar providers within the PECO service territory, specifically Southeastern Pennsylvania.

In 2022, PECO will buy 8,000 additional fixed-priced solar AECs. By the end of the 10-year process, the company expects to have bought 160,000 solar AECs. The utility said that the program will help further the growth of solar generation in the state, and also create a stable market for future solar development through the long-term contracts.

The RFP will run from April 20 through June 8. In order to be considered, bidders must submit a Notice of Intent to Bid by April 29, and apply for the minimum annual offer amount of 200 alternative energy credits.

More information on the RFP can be found here.  PECO host a virtual conference to share more details about the procurement process on April 20.

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