Delaware SREC Market
Due to recent legislation, the Delaware SREC Program is moving away from a "market-based" system and towards a long-term procurement program. The state has pushed the burden for procuring SRECs on the regulated utilities instead of competitive electricity suppliers in order to promote long-term SREC contracts. Delmarva Power is the largest utility in the state and SRECTrade runs its major procurements at SRECDelaware.com.
Program Details
Pricing: SREC Prices - History of recent public SREC auctions
News: Delaware Blog - Starting point for useful information regarding the Delaware SREC market
Other markets: Pennsylvania
Eligible States: DE Only
Energy Year: June 1 to May 31
Tracking Platform: GATS
Meter Readings: Revenue Grade Reporting Required
Eligibility Begins: Upon date of final SREC certification approval
SREC Life: 3 Energy Years: SRECs generated in Energy Year 2010 count in 2010, 2011 or 2012
Solar Requirement: Reaching 3.5% of total electricty generated in 2025-2026 energy year
SACP Detail: $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.
Useful Links
Delmarva Power Solicitation - Primary resource for SREC contracts: srecdelaware.com
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 enrolling to sell SRECs
Registering in Delaware - Application details from the Delaware PSC
DSIRE: Delaware RPS - Details on the Renewable Portfolio Standard
RPS Solar Carve-Out Table
|
Energy Year |
RPS Solar Requirement |
Projected SRECs Required (MWh) |
Projected Capacity Required (MW) |
SACP |
|
2010 |
.018% |
2,080 |
1.7 |
$400 |
|
2011 |
.20% |
23,110 |
19.3 |
$400 |
|
2012 |
.40% |
46,914 |
39.1 |
$400 |
|
2013 |
.60% |
71,426 |
59.5 |
$400 |
|
2014 |
.80% |
96,663 |
80.6 |
$400 |
|
2015 |
1.00% |
122,641 |
102.2 |
$400 |
|
2016 |
1.25% |
155,601 |
129.7 |
$400 |
|
2017 |
1.50% |
189,522 |
157.9 |
$400 |
|
2018 |
1.75% |
224,426 |
187.0 |
$400 |
|
2019 |
2.00% |
260,334 |
216.9 |
$400 |
|
2020 |
2.25 % |
297,269 |
247.7 |
$400 |
|
2021 |
2.50% |
335,253 |
279.4 |
$400 |
|
2022 |
2.75% |
374,310 |
311.9 |
$400 |
|
2023 |
3.00% |
414,463 |
345.4 |
$400 |
|
2024 |
3.25% |
455,737 |
379.8 |
$400 |
|
2025 |
3.5% |
498,156 |
415.1 |
$400 |
Source: EIA Report "Retail Sales of Electricity by State by Provider" updated 10/1/12. 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 1,200 MWh generated per MW of installed capacity per year. Projected Capacity Required assumes the amount of capacity needed to be operational all year to meet that year's RPS requirements with only current vintage SRECs.
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