West Virginia utilities now accepting SREC purchases for 50-MW solar portfolio

Mon Power and Potomac Edison, subsidiaries of FirstEnergy, are making customer commitments to purchase renewable solar credits (SRECs) from five large-scale solar facilities planned for the company’s West Virginia service area. The companies recently received conditional approval from the West Virginia Public Service Commission for the five projects, which together will generate 50 MW of solar power to make West Virginia more attractive for business development.

SRECs are certificates that represent the environmental characteristics of solar energy and prove that solar energy has been generated on behalf of the buyers. One SREC is produced for every megawatt hour of sustainable solar energy generated. When fully operational, the five projects planned by Mon Power and Potomac Edison are expected to create more than 87,000 SRECs per year.

With a total subscription cost of 4¢/kWh in addition to the regular rates, customers can choose from several SREC subscription levels and durations with pricing options that enable broad participation in West Virginia’s solar program. Commercial and industrial customers can choose a subscription level that reflects a percentage of their monthly energy usage. Residential customers can support the program by purchasing an SREC over time at monthly tiers of 50 kWh ($2/month), 100 kWh ($4/month), 200 kWh ($8/month) or more.

When Mon Power and Potomac Edison have secured customer commitments for 85% of solar-generated renewable energy credits, the companies will seek final approval from the commission for a modest rate-payer surcharge to cover the balance of project costs and begin full-scale scaling. construction. Mon Power and Potomac Edison customers who commit to SRECs now are not expected to incur costs until early 2024.

“We are excited to kick off our solar program and look forward to connecting with customers who have expressed an interest in solar and supporting renewable energy in West Virginia,” said Jim Myers, president of FirstEnergy’s West Virginia operations. .

The company’s solar program supports a 2020 bill passed by the West Virginia legislature that would authorize electric utilities to own and operate up to 200 MW of renewable solar power generation facilities to meet the state’s electricity needs. The addition of new renewable generation is also boosting economic development in West Virginia, as a growing number of businesses require some of the electricity they buy to be generated from renewable sources.

Mon Power will build, own and operate the five solar installations that are on property of Mon Power or its subsidiaries. The locations include:

  • A 26-acre recovered ash dump in Berkeley County
  • A 51-acre site adjacent to a Mon Power substation in Hancock County
  • A retired 27-acre ash removal site in Marion County
  • A 95-acre site in Monongalia County, adjacent to the Fort Martin . power station
  • A 44-acre reclaimed strip mine in Tucker County

To subscribe or learn more about the solar program, West Virginia Mon Power and Potomac Edison customers can submit their information at www.firstenergycorp.com/WVSolar or by calling 1-800-505-7283.

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