SREC Procurement Program Overview

The Delaware Public Service Commission has approved Delmarva Power’s 2014 SREC Solicitation Program. The full text of the Delmarva Filing can be found in the Documentation  section at SRECDelaware.com. 

2014 Schedule

  • April 16th – Information on 2014 Solicitation posted at SRECDelaware.com
  • May 1st – Webinar for 2014 Solicitation
  • May 5th – Solicitation bid window opens at SRECDelaware.com
  • May 23rd – Solicitation bid window closes
  • May 27th – Solicitation results announced

2014 Program Summary

The 2014 Solicitation will again consist of five tiers, three for new systems and two for existing systems. All tiers of the solicitation will be competitively bid with winning bids determined based solely on price. The five tiers are as follows:

 

New Systems
(systems with final interconnection approval after April 12th, 2013)
Tier Nameplate Rating - (DC at STC) SRECs in Tier
N-1 Less than or equal to 30 kW 3,800 Pool*
N-2 Greater than 30 kW but less than or equal to 200 kW 1,600
N-3 Greater than 200 kW but less than or equal to 2 MW 1,600
Existing Systems
(systems with final interconnection approval before April 12, 2013)
Tier Nameplate Rating - (DC at STC) SRECs in Tier
E-1 Less than or equal to 30 kW 3,800 Pool*
E-2 Greater than 30 kW but less than or equal to 2 MW 3,800 Pool*

*The lowest priced bids from tiers N1, E1, and E2 will all compete for the same pool of 3,800 SRECs.

All Tiers will be competitively bid. Each winning bid will enter into a contract with a term of 20 years. For the first 7 years, the SREC price will be the accepted bid price. For the remaining 13 years, the SREC price will be fixed at $35 per SREC.

Changes from 2013 Program

The 2014 program has only three substantive changes from the 2013 program:

  • Tiers N1, E1, and E2 will all compete for the same pool of 3,800 SRECs. Bidders will still enter only one bid for each system based on the system’s size and status. The lowest price from all three of these tiers will be used to fill the 3,800 SREC allocation.
  • The price per SREC for years 8-20 of the contract has been changed to $35/SREC.
  • The bid tie procedure has been changed to first consider all systems with both Delaware labor & equipment, before entering the 5 day rebid period.

The approved Delmarva Power filing for the 2014 program is available, and further details about the solicitation will be posted here as they become available. All bidding activity will occur on this website, which will also be the central clearinghouse for information regarding the procurement. For information on the previous solicitations and the spot auction, please visit the Documentation section of this site.


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