Delaware

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Delaware has a unique SREC market due to legislation that assigns RPS compliance responsibility to the electric distribution utility. As a result, Delmarva Power, the state's largest electric distribution utility, is the de-facto long-term buyer for the majority of the Delaware sited SRECs. To meet its RPS obligations, Delmarva Power administers SRECDelaware, a competitive procurement program that awards 20-year SREC contracts through annual bid-based solicitations.

Although Delaware does have a solar carve-out requirement and a SACP, the combination of adequate SREC supply and the unique utility-run procurement structure has limited the attractiveness of Delaware's SREC market for system owners. For these reasons, Xpansiv does not participate in these auctions.

However, Delaware-sited solar systems in PJM Territory are eligible to participate in the more profitable and dynamic Pennsylvania Tier-I REC market and the Virginia REC Market.

Markets for DE Systems

DE SRECs, PA Tier-I, VA REC

Tracking Registry

GATS

Energy Year

June - May

Eligible System Locations for DE SRECs

DE

SACP

The Solar Alternative Compliance Payment (SACP) is the penalty price that electricity suppliers must pay per SREC if they fail to file the required number of SRECs by the end of each compliance period. The DE SACP is set at $150 per SREC. If SACPs are used to meet 15% of total SREC compliance, the SREC carve-out will freeze until SREC supply increases. However given the SREC market is typically oversupplied, this has not been an issue. The DE SREC spot market is limited due to the Procurement Program.

SREC Useful Life

DE SRECs have a useful life of 3 years (i.e., SRECs generated in energy year 2026 may be used for energy year 2026, 2027, or 2028 compliance). This 3-year life is “tolled”, or suspended, during any period in which a REC is held by the Delaware Sustainable Energy Utility (SEU).

Solar Requirement

Reaching 10% of total electricity generated by 2035 (see table below)

Meter Readings

Systems must submit meter readings from a revenue grade meter in order to participate in the SRECDelaware program.

Eligibility Start Date

The Delaware PSC bases a system’s eligibility start date on the date of final SREC certification approval.

Market requirements

DE SREC market requirements as currently set by state legislation:

Energy Year	% Solar Requirement	SACP
2018	1.75%	$150
2019	2.00%	$150
2020	2.25%	$150
2021	2.50%	$150
2022	2.75%	$150
2023	3.00%	$150
2024	3.25%	$150
2025	3.50%	$150
2026	3.75%	$150
2027	4.00%	$150
2028	4.25%	$150
2029	4.50%	$150
2030	5.00%	$150
2031	5.80%	$150
2032	6.60%	$150
2033	7.40%	$150
2034	8.40%	$150
2035	10.00%	$150

Market Resources

Latest State News

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