In 2021 and 2022, PECO issued four solar credits procurement requests for proposals (RFPs) to interested parties with the intent of securing proposals for 10-year fixed-price contracts for 4,000 annual Pennsylvania-based solar Alternative Energy Credits (AECs) from Tier I solar Alternative Energy Systems under Pennsylvania's Alternative Energy Portfolio Standards Act.
In June 2022, PECO completed the final round of its Default Service Program V's solar Alternative Energy Credit procurement program. The final phase of the program was approved by the Pa PUC and was a Standard Offer to Purchase (SOP) 4,000 AECs annually at $32.92/AEC for a 10-year term. The Standard Offer solar credits are sourced locally from within the PECO service area. The
Secretarial Letter is available on the Pa PUC website.
Overall, PECO has arranged for 16,000 solar AECs annually in 10-year agreements. Half at $34.07/AEC and half at $32.92/AEC. 8,000 AECs annually will be locally sourced, and the balance sourced within the state of Pennsylvania.