Georgia Power launched a new Renewable Energy Development Initiative (REDI) for commercial and industrial customers on Tuesday. The voluntary program offers hourly credits matching production as well as solar renewable energy credits from up to 200 megawatts of renewable resources, the electric utility announced.
Commercial and industrial customers with an aggregate 2016 peak demand of 3 megawatts or greater under common ownership and control qualify for the program. Hourly credits will be based on Georgia Power’s actual hourly cost of incremental generation, the utility says. Customers have until Monday, September 25 to submit a notice of intent application online. After that, PPAs will be selected to supply the initiative’s portfolio. “C&I customers will sign a 10- to 30-year contract based on their preference,” according to Georgia Power’s announcement.
The utility has approximately 10,500 industrial and 305,000 commercial customers. Last year the Georgia Public Service Commission authorized the new program, which was “designed for Georgia Power C&I customers with aggressive renewable energy goals and a need for renewable energy credits.”
Georgia Power has the country’s largest voluntary portfolio of renewables, according to the utility. Taking into account expanded solar capacity in the state’s military bases, implementation of the new REDI and other programs, the utility says it plans to add up to 1,600 megawatts of renewable capacity in the next four years.