Upfront SREC Purchase Program
As of April 1, 2017, the Upfront Purchase Program closed to new applications. Systems needed to be completed and final applications submitted by October 15, 2017.
In Delaware, the Renewable Portfolio Standard (RPS) requires electricity suppliers to secure a portion of their electricity from solar generators. The SREC program provides a means for Solar Renewable Energy Credits (SRECs) to be created for every 1000 kilowatt watt-hours of solar electricity created.
The SREC is sold separately from the electricity and represents the "solar" aspect of the electricity that was produced. The value of an SREC is determined by the market subject to supply and demand constraints. SRECs can be sold to electricity suppliers needing to meet their solar RPS requirement.
This program provided an upfront payment of $.45/watt ($450/kW) in exchange for the first 20 years of solar renewable energy credits (SRECs) created by the system.
The program was open to all Delaware sited systems less than or equal to 50kw in size, regardless of the customer&';s electric provider. Systems with a final interconnection dates between August 4, 2014 and October 15th, 2017 were eligible regardless of grant recipient status.
Any systems with long-term contracts for their SRECS, including successful bidders in the Delaware SREC Procurement Program, were not eligible for participation in this program. Additionally, systems that took advantage of this program are not eligible to participate in future Delaware SREC Procurement Program solicitations.
The Upfront SREC Purchase Program began accepting applications on August 4, 2014, and closed to new applications on April 1, 2017. All systems must have been completed, interconnected with a Delaware Public Service Commission Certification Number, and final applications submitted by October 15th, 2017.
WHERE TO LEARN MORE ABOUT DELAWARE'S SREC AUCTION:
- Visit the Delaware SREC Program website: www.srecdelaware.com/
- Application forms and instructions can be found at: www.srecdelaware.com/program-instructions/
- Should you have any questions you may contact Tony DePrima at 302-883-3038 or at email@example.com