2017 SREC Procurement

The 2017 Procurement Schedule:

  • April 28th – Information on 2017 Solicitation posted at SRECDelaware.com
  • May 22nd- Instructional Webinar Held. View the webinar here.
  • May 29th – Solicitation bid window opens at SRECDelaware.com at 9:00 am
  • June 9th – Solicitation bid window closes at 5:00 PM
  • June 15th- Preliminary Bid Opening held at the Delaware Sustainable Energy Utility

2017 Program Summary

The 2017 Solicitation will consist of seven tiers, four (4) for new systems and three (3) existing systems. The seven tiers are as follows:

New Systems
(systems with final interconnection approval after June 10th, 2016)
Tier Nameplate Rating - (DC at STC) SRECs in Tier
N-1 Less than or equal to 25 kW 4,400*
N-2 Greater than 25 kW but less than or equal to 200 kW 2,300
N-3 Greater than 200 kW but less than or equal to 2 MW 3,300
N-4 Greater than 2 MW 0-10,000
Existing Systems
(systems with final interconnection approval before June 10th, 2016)
Tier Nameplate Rating - (DC at STC) SRECs in Tier
E-1 Less than or equal to 25 kW 4,400 Pool*
E-2 Greater than 25 kW but less than or equal to 2 MW 4,400 Pool*
E-3 Greater than 2 MW 0-10,000

Like the 2016 Program, Tiers N-1, E-1 and E-2 will be a combined pool. For the purposes of acquiring the first 10,000 SRECs, Tiers N-1, N-2, N-3, E-1, and E-2 will be competitively bid. Tiers N-4 and E-3 are excluded from the initial solicitation. Once the first 10,000 SRECs from the protected tiers have been procured Delmarva Power may procure up to 10,000 additional SRECs through the auction using the least expensive available SRECs from any tier (including N-4 and E-3).

If any Tier within the first 10,000 SRECs is undersubscribed because of rejected bids (Delmarva exercises price discretion), bids from any Tier, except Tiers N-4 and E-3, can win those SRECs. If any Tier within the first 10,000 SRECs is undersubscribed because of insufficient bids, bids from any Tier can win those SRECs. Each winning bid will enter into a contract with a term of 20 years. For the first 10 years, the SREC price will be the accepted bid price. For the remaining 10 years, the SREC price will be fixed at $35 per SREC.

*The lowest priced bids from tiers N1, E1, and E2 will all compete for the same pool of 4,400 SRECs.

For a download of the full Delmarva Filing from 2017 and a copy of the 2017 Transfer Agreement please click here.

Changes from 2016 Program

The 2017 program has the following substantive changes from the 2016 program:

  • The number of additional SRECs Delmarva may opt to buy through the auction after the 10,000 allotted SRECs has increased from 6,000 SRECs to 10,000 SRECs.
  • Tiers N-4 and E-3 have been added to allow systems larger than 2 MW to bid into the auction for the additional SRECs Delmarva may opt to buy.

 


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