Delaware SREC Market
A RPS bill passed in July 2010 significantly strengthened what was previously a relatively weak market for SRECs. Delaware now has a more competitive SACP, and beginning in the 2011-2012 energy year LSEs are required to purchase much larger quantities of SRECs. This increase in demand, along with the higher SACP, will lead to more competitive pricing for SRECs in Delaware. Solar owners in this state should increasingly look to their home market for the best SREC prices.
Pricing:
SREC Auction - Auction closing prices history
News:
Delaware Blog - Starting point for useful information regarding the Delaware SREC market
Other States in which Delaware facilities are eligible:
Pennsylvania
States eligible for DE Market: DE
Energy Year: June 1 to May 31
Tracking Platform: GATS
Meter Readings: All generators must provide readings for SREC generation
SREC Useful Life: 3 years - SRECs generated in 2010 can be counted towards either the 2010, 2011 or 2012 RPS
Solar Requirement: Reaching 3.5% of total electricty generated in 2025-2026 energy year
SACP: $400 increasing to $450 if an LSE opts for the SACP in any previous year and up to $500 if the SACP has been charged in any two previous years. In addition, once the solar requirement is met, SRECs are worth 3x the regular REC price. That price is $25 increasing to $50 and $80 respectively if the ACP has been paid in either 1 or 2 or more previous years.
Meter Readings: Facilities must report generation from revenue grade meters.
Eligibility Begins: Upon date of final SREC certification approval.
|
Energy Year |
RPS Solar Requirement |
Projected SRECs Required (MWh) |
Projected Capacity Required (MW) |
SACP |
|
2010-11 |
.018% |
2,102 |
1.8 |
$400 |
|
2011-12 |
.20% |
23,707 |
19.8 |
$400 |
|
2012-13 |
.40% |
48,126 |
40.1 |
$400 |
|
2013-14 |
.60% |
73,272 |
61.1 |
$400 |
|
2014-15 |
.80% |
99,161 |
82.6 |
$400 |
|
2015-16 |
1.00% |
125,810 |
104.8 |
$400 |
|
2016-17 |
1.25% |
159,622 |
133.0 |
$400 |
|
2017-18 |
1.50% |
194,419 |
162.0 |
$400 |
|
2018-19 |
1.75% |
230,225 |
191.9 |
$400 |
|
2019-20 |
2.00% |
267,061 |
222.6 |
$400 |
|
2020-21 |
2.25 % |
304,950 |
254.1 |
$400 |
|
2021-22 |
2.50% |
343,916 |
286.6 |
$400 |
|
2022-23 |
2.75% |
383,982 |
320.0 |
$400 |
|
2023-24 |
3.00% |
425,173 |
354.3 |
$400 |
|
2024-25 |
3.25% |
467,513 |
389.6 |
$400 |
|
2025-26 |
3.5% |
511,028 |
425.9 |
$400 |
Source: EIA Report updated 11/15/11 "By End-Use Sector, by State, by Provider". Projected SRECs Required utilizes the most recent EIA electricity data applying an average 1.5% growth rate per forecast year. RPS Solar Requirement is multiplied by forecast Total Electricity Sales to arrive at Projected SRECs Required. Projected Capacity Required is based on a factor of 1.2 MWh generated per MW of installed capacity per year.
Useful Links:
Delaware Client Forms - All the forms necessary to sign up for SRECTrade's EasyREC service
New to Solar? - Getting Started - The nuts and bolts of getting started generating and selling SRECs
Registering in Delaware - Application details from the Delaware PSC
DSIRE: Delaware RPS - Details on the Renewable Portfolio Standard
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