Mon Power and Potomac Edison Launch Their Third Solar Project
Mon Power and Potomac Edison Launch Renewable Energy Initiative
Former ash landfill to be transformed into solar energy site
Mon Power and Potomac Edison, two subsidiaries of FirstEnergy Corp. (NYSE: FE), have officially started construction on their third utility-scale solar site. This effort is directed towards fulfilling the electricity demands of the region and promoting local economic development.
Transforming Land into Clean Energy
The latest project, known as the Marlowe solar initiative, occupies a 36-acre area previously used as an ash disposal site for the R. Paul Smith Power Station. FirstEnergy made significant strides in 2022, having removed over three million tons of ash, thus effectively closing the landfill and paving the way for redevelopment.
Commitment to Renewable Energy
Dan Rossero, Vice President of FirstEnergy's West Virginia Generation, expressed his thoughts on the site's redevelopment: "Turning this site into a clean and renewable energy source aligns with our dedication to fostering economic advancement in the state while building a more sustainable future for the communities we serve." The solar facility aims to yield up to 5.75 megawatts of renewable power, translating to enough electricity to power an average of 1,000 homes.
Job Creation and Local Manufacturing
Mon Power and Potomac Edison prioritize the use of local union labor for the construction of their solar facilities. All materials, including solar panels and steel racking systems, are sourced domestically, reinforcing job creation and supporting local economies.
Supporting Legislative Goals
This project is part of a broader initiative under West Virginia's solar program, which follows a 2020 bill that allows electric utilities to own and operate up to 200 megawatts of solar generation facilities to meet the state's electricity needs. As renewable energy becomes essential for many businesses, expanding this infrastructure opens doors for economic growth in the state.
Future Plans and Projects
Mon Power and Potomac Edison are developing five solar projects with a total output of 50 megawatts, laying the groundwork for a more extensive commitment of up to 200 megawatts over time. Their first solar initiative, set at Fort Martin Power Station, generated an impressive 18.9 megawatts and was completed earlier this year. Currently under construction is the second solar site in Rivesville, projecting a capacity of 5.5 megawatts.
Engagement with Renewable Energy Credits
The combined efforts across these five projects are expected to generate more than 87,000 solar renewable energy credits (SRECs), which promote the use of solar energy among customers in West Virginia. Each credit represents the environmental benefits of solar energy, affirming its generation for the supporters. Customers can purchase SRECs through the program, enabling them to contribute at a rate of 4 cents per kilowatt hour beyond their usual electricity costs.
Customer Engagement Initiatives
Since launching the solar program, Mon Power and Potomac Edison have engaged various customers including residential and significant commercial entities such as the National Energy Technology Laboratory in Morgantown. To enhance this solar initiative, interested consumers can subscribe or seek additional details via the companies' official channels.
Upcoming Projects and Community Commitment
Plans are in motion for additional solar sites with applications submitted to the Public Service Commission for locations in Davis, Tucker County (11.5 MW), and Weirton, Hancock County (8.4 MW). Approval will be granted once sufficient customer commitments for renewable energy credits are secured.
Mon Power serves approximately 395,000 customers across 34 counties. Follow updates from Mon Power through their website and social media platforms, including Twitter and Facebook.
Potomac Edison, serving 285,000 customers in seven Maryland counties and 155,000 customers in West Virginia's Eastern Panhandle, is equally committed to informing their clients through various digital platforms.
FirstEnergy, across its subsidiaries, remains devoted to the principles of integrity, safety, reliability, and operational excellence while catering to over six million customers integrated across various states. They manage an extensive transmission network, connecting diverse regions to bolster access to electricity.
Frequently Asked Questions
What is the purpose of the new solar project?
The solar project aims to meet electricity needs while supporting economic development through the use of renewable energy.
Where is the Marlowe solar site located?
The Marlowe project is situated on a 36-acre site formerly used as an ash landfill.
How much renewable power will the facility generate?
It is expected to produce up to 5.75 megawatts of renewable energy.
What are solar renewable energy credits (SRECs)?
SRECs are certificates that represent the environmental attributes of solar power, allowing customers to support renewable energy generation.
Can customers participate in the solar program?
Yes, customers can subscribe to purchase SRECs as part of the solar program.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.
Related Articles
- Mark Cuban's Evolving Political Views and Support for Trump
- Warren Buffett's Recent Stock Moves and Income Insights
- Understanding the Ripple Effects of Tariffs on Inflation
- TD Bank Faces Criminal Charges for Money Laundering Issues
- UBS Predicts Nuclear Power Resurgence as Global Demand Grows
- Strategic Moves for Investors as Fed Eases Monetary Policies
- Growth Opportunities in Tech: Palantir and Symbotic Insights
- Apple Harbors Ambivalence on OpenAI While Nvidia and Microsoft Engage
- Nokia Partners with Vodafone Idea for Enhanced 4G and 5G Connectivity
- The Ongoing Conflict Between WordPress and WP Engine
Recent Articles
- Alaska Air Group Introduces New Financing for Mileage Plan
- Innovative Mirror Accessory Enhances Vehicle Style and Safety
- Riddell Commemorates Leadership Transition Amid Growth
- JPMorgan Upgrades Healius Limited with Anticipated Special Dividend
- EchoStar Corporation's Financing Struggles: A Path Forward Ahead
- Qualcomm's Strategic Interest in Intel: A Complex Landscape Ahead
- Israel Chemicals Ltd Stock Analysis and Future Outlook
- P10 Inc. Insider Stock Sale and Growth Prospects Analyzed
- U.S. Department of Labor Engages Employers to Avert Port Strike
- U.S. Data Center Power Capacity Set to Soar by 2027
- Mark Cuban's $140,000 Champagne Fumble After NBA Triumph
- Long Beach City College Marks 75 Years of Innovation and Learning
- Unlocking the Jade Market: The Revolutionary Tokenomics Explained
- Exploring the Growth of India's IT Asset Disposition Market
- Euroseas Ltd. Looks Forward to Noble Capital Conference Insights
- Admiral Group's Managerial Transactions and Share Awards Explained
- Celebrating Governance: JE Cleantech's AGM Highlights
- Shell plc Announces Recent Share Buyback Activity
- Exploring CRH's Unique Options Dynamics and Market Insights
- Celebrating Global Biotech Week 2024: A Fusion of Science and Fun
- Understanding Recent Option Movements for Wolfspeed (WOLF)
- Pemberton Personal Injury Law Firm Expands with New Attorney
- Analyzing Recent Trends in PepsiCo Options Trading Activity
- Addressing Scope 3 Emissions: The Essential White Paper
- Merritt Properties Nears Full Occupancy at Business Center
- U.S. SEC Chair Gary Gensler to Speak at Money20/20 USA Event
- How Flutter Entertainment is Shaping the Sports Betting Landscape
- Understanding Your Investment in Agilent Technologies Over Time
- Investing $1000 in Lockheed Martin: A Decade of Growth
- Why Copa Holdings (CPA) Remains a Strong Investment Choice
- Innovative Sport Sunglasses Designed to Boost Athlete Focus
- Terrifier 3 Delivers Chilling Experience at Fantastic Fest
- Merritt Properties Expands Offerings with New Tenants
- ARYA Sciences Acquisition IV Faces Market Pressures at $3.51
- ShiftPixy Stock Faces Significant Challenges and Decisive Actions
- GT Biopharma Faces Market Struggles with Strategic Shifts
- TAT Technologies Achieves 52-Week Milestone with Stock Surge
- Empire State Realty Trust Enhances Executive Package and Future Goals
- Baird Analyzes Qualcomm's Possible Bid for Intel Corporation
- Exploring U.K. Stock Performance and Market Movements
- Nvidia's Datacenter Revenue Anticipations for Q4 Set to Surge
- Recent Stock Activities and Growth Insights for Donaldson Co.
- Warren Buffett's Timeless Strategies for Today’s Investors
- Electrodeposited Copper Foils Market Set for 2023-2031 Surge
- Societe Generale Announces Significant Share Capital Reduction
- Investors Alert: Class Action Deadlines for Major Companies
- Enhanced Cloud Connectivity for CENIC Members Drives Innovation
- AeroVironment Sees Stock Surge on Army Contract Update
- Exploring AM Best's September Rankings in Insurance Industry
- Dynamic Map Platform Revolutionizes HD Mapping Across Europe