SREC Procurement Program Overview

2015 Schedule

  • March 12th – Information on 2015 Solicitation posted at SRECDelaware.com
  • April 8th - First Webinar held. Full recording can be viewed here
  • April 13th – Solicitation bid window opens at SRECDelaware.com at 9:00 am
  • April 17th – Second Webinar held.
  • April 24th – Solicitation bid window closes at 5:00 PM
  • April 29th – Results announced

2015 Program Summary

The 2015 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 May 5th, 2014)
Tier Nameplate Rating - (DC at STC) SRECs in Tier
N-1 Less than or equal to 30 kW 4,400*
N-2 Greater than 30 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 2,300
Existing Systems
(systems with final interconnection approval before May 5th, 2014)
Tier Nameplate Rating - (DC at STC) SRECs in Tier
E-1 Less than or equal to 30 kW 4,400 Pool*
E-2 Greater than 30 kW but less than or equal to 2 MW 4,400 Pool*

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

Note: Upon fulfillment of the 9,000 SRECs in these tiers, Delmarva Power may procure up to 3,000 more SRECs through the auction, regardless of tier, using the least expensive from New or Existing Systems.

All Tiers will be competitively bid. 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.

Changes from 2014 Program

The 2015 program has the following substantive changes from the 2014 program:

  • The SREC bid price will be awarded for the first 10 years of the contract and the SREC price for the last ten years of the contract will be fixed at $35. This is different from the 2014 program, where the SREC bid price was awarded for the first 7 years of the contract and the SREC price for the last 13 years of the contract was $35.
  • Any existing system who defaults on a winning bid by refusing to sign the SREC Transfer Agreement will be prohibited from bidding in a subsequent long term auction.
  • Any and all bids above the Alternative Compliance Payment of $400 will be rejected.
  • If any tier is undersubscribed because of insufficient bids or rejected bids, bids from any other tiers can win those SRECs.
  • Delmarva reserves the right to reject any or all bids above a threshold price per SREC as determined by Delmarva.

 


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