November 16, 2012 – (RealEstateRama) — The Michigan Public Service Commission (MPSC) today approved Detroit Edison Company’s request to implement Phase II of its customer-owned SolarCurrents program.
Phase II is an expansion and revision of the utility’s fully-subscribed 5 megawatt (MW) customer-owned SolarCurrents Program.
Like Phase I, Phase II is a renewable energy credit (REC) purchase program. It will provide for an up-front purchase of half the RECs that are anticipated to be generated over the life of the system, with the remaining RECs purchased via monthly payments on actual generation.
Detroit Edison will be accepting applications for the 2 MW Phase II program from residential customers, comprising 1.5 MW of the program, and non-residential customers, comprising the remaining 0.5 MW of the program, through four 500 kilowatt tranches. Contracts for program participation will be awarded using random selection events starting in 2013 with the last tranche being awarded in 2014.
In approving Detroit Edison’s request, the MPSC noted that the implied REC price is less than the average unbundled REC price that was approved in the utility’s amended renewable energy plan and the program will not result in a rate increase for customers.
The MPSC is an agency within the Department of Licensing and Regulatory Affairs.
Case No. U-16582
Judy Palnau, 517-241-3323