Upfront SREC Purchase Program
As of April 1, 2017, the Upfront Purchase Program is no longer accepting Part 1 applications. Funds will be allocated on a first come, first serve basis upon the submission of a Part 2 application. All systems must be complete and applications submitted by October 15th, 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 will provide 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 is open to all Delaware sited systems less than or equal to 50kw in size, regardless of the customer&squot;s electric provider. Systems must have a final interconnection date after August 4, 2014 to be eligible and are eligible regardless of grant recipient status.
Any systems that have a long-term contract for their SRECS, including successful bidders in the Delaware SREC Procurement Program, are not eligible for participation in this program. Additionally, systems that take advantage of this program will not be eligible to participate in future Delaware SREC Procurement Program solicitations.
The Upfront SREC Purchase Program began accepting applications on August 4, 2014. As of April 1, 2017, the Upfront Purchase Program is no longer accepting Part 1 applications. Funds will be allocated on a first come, first serve basis upon the submission of a Part 2 application. All systems must be complete and applications submitted by October 15th, 2017. Part 2 applications can be made at www.GreenGrantDelaware.com once the system has been interconnected and obtained a Delaware Public Service Commission Certification Number.
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