US diversified energy firm FirstEnergy (NYSE:FE) said Thursday that its three Ohio units have met this year's benchmarks for solar renewable energy generated in the state as required by Ohio's energy law.
Ohio Edison, Cleveland Electric Illuminating Co and Toledo Edison have met the target thanks to a request for proposal (RFP) to secure 10-year Solar Renewable Energy Credits (SRECs).
FirstEnergy's strategy is to support the installation of solar power systems by purchasing SRECs, which means making environmental attributes of solar renewable electricity generation. Every MWh of generated solar renewable electricity is matched with the issuance of an equivalent amount of SRECs.
The RFP resulted in the delivery of 1,000 SRECs produced by facilities generating electricity from the sunlight in Ohio for each calendar year starting from 2012 through 2021. A total of 38 qualified bids were registered with combined offering exceeding 15 times the required SRECs being sought under the RFP.
Source:http://www.power-eng.com/news/2012/04/27/firstenergy-s-ohio-units-meet-2012-solar-energy-benchmarks.html
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