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Pennsylvania utility company purchases solar energy credits

Posted: 2010-03-05
A recent purchase by electric and natural gas utility PECO could help produce enough solar energy to power nearly 1,000 homes for 10 years.

The Philadelphia-based company supported Pennsylvania's Alternative Energy Portfolio Standards by buying 80,000 solar energy credits. The solar panels would produce 6 megawatts and cover the size of about eight football fields, according to the report. PECO has already purchased more than 450,000 megawatt-hours in wind and other renewable energy credits.

"These purchases underscore our strong environmental focus and commitment to renewable energy for our customers," Denis P. O'Brien, PECO president and CEO, said.

Passed in 2004, the state's AEPS requires that 18 percent of its power is derived from renewable energy resources by 2020. It also requires that 3.5 percent of the credits sold to PECO are used on solar, wind, landfill gas or other renewable resources by 2011.

Last year's American Clean Energy Act set a national 20 percent by 2020 renewable energy standard and aimed to reduce carbon emissions by 17 percent in that time period. It also invested $190 billion into clean energy technologies and energy efficiency, while keeping costs low for consumers.