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Incentives/Policies for Renewables & Efficiency

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SREC Procurement Program   

Last DSIRE Review: 02/08/2013
Program Overview:
State: Delaware
Incentive Type: Performance-Based Incentive
Eligible Renewable/Other Technologies: Photovoltaics
Applicable Sectors: Commercial, Industrial, Residential, Nonprofit, Schools, Local Government, Utility, Agricultural, Institutional
Start Date:04/02/2012
Web Site:
Authority 1:
Date Enacted:
Delaware PSC Order 11-399
Authority 2:
Date Enacted:
26 Del. C. ยง 351 et seq.
07/21/2005 (subsequently amended)
Authority 3:
Delaware PSC Order 8093
Authority 4:
Date Enacted:
Delaware PSC Order 8281

Note: The SREC procurement program will accept applications from March 25 to April 12, 2013. The summary below is intended to reflect the 2013 program as described in the Public Service Commission Staff Report and Order No. 8281. More information on bid requirements, the application process and payments amounts are available on the program web site.

The Delaware Solar Renewable Energy Certificate (SREC) Procurement Program is designed to assist in the creation of a market for SRECs and to provide a mechanism for the procurement of SRECs to ensure that retail electricity suppliers meet the requirements set forth in Delaware's Renewable Energy Portfolio Standards Act (REPSA). The 2013 SREC Procurement Program is designed to cover only one year, the 2013 compliance year.

The program utilizes a public solicitation for SRECs for different tiers of solar generators based on capacity. The Sustainable Energy Utility (SEU), contracted with SRECTrade, will administer all aspects of the bid process for each utility that decides to participate. Delmarva Power is the only participating utility at this time; therefore, the estimates for procurement are based Delmarva Power’s projected need for SRECs in compliance year 2013. Delmarva proposes to purchase 8,000 SRECs through the 2013 Procurement Program. The 2013 program will have three components:

  • New Systems – 4,000 SRECs
  • Existing Systems – 3,000 SRECs
  • Spot Market Purchases – 1,000 SRECs

New systems are defined as having a final interconnection approval after the first date of the preceding auction process (i.e. April 2, 2012 for compliance year 2012). Existing systems are defined as having a final interconnection approval date before the first date of the preceding auction process (i.e. April 2, 2012 for compliance year 2012).

Project Eligibility

Existing projects must have an “Accepted Completed Solar System Interconnection Application” dated December 1, 2010, or later. Proposed projects are required to begin operating within one year of the award date. All projects are prohibited from receiving supplemental funding from a public source, other than grants associated with the Delaware Green Energy Program (“GEP”) or grants in lieu of the investment tax credit.

Program Tiers

Tier Size(kW) Number of SRECs per year % of total SRECs
N-1 <30 1,200 15%
N-2 31-200 1,400 17.5%
N-3 201-2,000 1,400 17.5%
E-1 <30 1,500 18.75%
E-2 31-2,000 1,500 18.75%

Each program tier will have different applicable pricing, bid rules and other contract terms and conditions. Applicants can submit an application for only one tier; however, under certain limitations the SEU may accept bids from a lower tier to fill the requirements of a higher tier.


All system tiers are subject to competitive bid pricing. There will be no administrative pricing for any tier, and grant amounts will not be considered in determining winning bids. All contracts have a 20-year term with payment amounts indicated below. All applicants must submit fixed dollar amount bids for the first 7 years, after which from years 8 to 20 a price of $50 per SREC will be paid out. Contract terms are non-negotiable.


In September 2011, Delmarva Power & Light filed an application with the Delaware Public Service Commission to seek approval of a pilot program for the procurement of SRECs. Through this application, Delmarva sought approval to implement a pilot program calling for the SEU to acquire, through an open procurement process, the SRECs needed for Delmarva Power to purchase its minimum number of SRECs for compliance year 2011 as set forth in state's RPS. Delmarva submitted a compliance filing for the State of Delaware Pilot Program for the Procurement of Solar Renewable Energy Credits in February 2012, as required by PSC Order No. 8093.

The 2012 pilot program created a multi-tiered solicitation for long-term SRECs that included multiple system sizes and customer classes under 20 year SREC purchase contracts. Standard offer contracts were awarded to systems less than 250 kW for years 1-10, with a preferential rate of $50 per SREC for years 11-20. Systems 251 kW to 2 MW were subject to competitive bid pricing for years 1-10, with a preferential rate of $50 per SREC for years 11-20. In April 2012, the SEU, contracting with SRECTrade, opened the first round of solicitations and awarded contracts to 166 solar PV systems totaling an estimated 7.7 MW of capacity.

A separate program -- Delaware Public Service Commission - Solar Renewable Energy Credits -- is available for customers of other utilities. 

  Tony DePrima
Delaware Sustainable Energy Utility
109 South State Street
Dover, DE 19901
Phone: (302) 883-3038
Web Site:
  SRECTrade, Inc.
90 New Montgomery St, Suite 333
San Francisco, CA 94150
Phone 2: (877) 466-4606
Web Site:
NCSU - home
Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.