Energy storage leads PJM's new study cycle with 314 projects (60 GW), while solar (11.8 GW) accounts for 117 and wind generation (3.9 GW) makes up 61 of the 715 total proposals. Following the application window, which closed in April, PJM reduced the total number of proposals in its queue from 811 initial submissions. Under this “first-ready, first-served” approach, PJM is requiring project submissions to demonstrate commercial viability before entering the study phase. This includes developers providing up-front proof of financial commitments and site control, which are processed using an AI-enabled review tool. PJM plans to add new projects with finalized agreements at the completion of Transition Cycle 2 in early 2027 and Cycle 1 in 2028.