The planned 10MW project in Dover, Delaware would have flooded the state’s SREC market and made it impossible for Delaware residents to sell their SRECs to Delmarva Power. Thanks to the Delaware Sustainable Energy Utility (SEU), the Delaware market will be protected from the potential harm that such an influx of SREC supply would cause to the market. The SEU decided today that it would purchase the SRECs from the 10MW facility in Dover to avoid flooding the market for residential and small commercial solar project SRECs. The current plan is to hold the SRECs until 2015 when the market is large enough to support such a supply.
This is great news for market participants in Delaware. Although most sellers will register their facilities out of state in Pennsylvania and DC where higher Alternative Compliance Payments (ACP) lend to higher SREC prices, it is important that Delaware establish its own SREC market to support the growth of the industry in-state without relying on legislation of neighboring states to do so.
On a related note, Delaware’s Governor Jack Markell has proposed the extension of the state RPS by 10 years through 2029, increasing the total requirement from 20% to 30% of electricity for renewables. In addition to the proposed expansion of the program to include all of Delaware’s electricity suppliers (not just Delmarva Power), this could also be an opportunity to increase the ACP in Delaware. We will see!
[…] Delaware: The reporting year 2011-2012 requirement for DE equates to approximately 21 MW being online for the entire year or approximately 25,600 SRECs created. As of August 25, 2011, 20.5 MW of solar capacity was registered and eligible to create DE SRECs in PJM GATS. 11.2 MW of the 20.5 currently eligible is from the Dover Sun Park project developed by LS Power. In the 2011-12 compliance year, Delmarva Power has contracted to purchase 8,846 SRECs from the project, of which 7,000 are being held by the Sustainable Energy Utility (SEU) until 2015-16. […]
[…] Delaware: The reporting year 2011-2012 requirement for DE equates to approximately 21 MW being online for the entire year or approximately 25,600 SRECs created. As of September 25, 2011, 20.8 MW of solar capacity was registered and eligible to create DE SRECs in PJM GATS. 11.2 MW of the 20.8 MW currently eligible is from the Dover Sun Park project developed by LS Power. In the 2011-12 compliance year, Delmarva Power has contracted to purchase 9,846 SRECs from the project, of which 7,000 are being held by the Sustainable Energy Utility (SEU) until 2015-16*. […]
[…] has contracted to purchase 9,846 SRECs from the project, of which 7,000 are being held by the Sustainable Energy Utility (SEU) until 2015-16*. As of this writing, PJM GATS reported the issuance of 6,677 DE2011-2012 SRECs. Additional SRECs […]
[…] has contracted to purchase 9,846 SRECs from the project, of which 7,000 are being held by the Sustainable Energy Utility (SEU) until 2015-16*. As of this writing, PJM GATS reported the issuance of 8,758 DE2011-2012 SRECs. Additional SRECs […]
[…] has contracted to purchase 9,846 SRECs from the project, of which 7,000 are being held by the Sustainable Energy Utility (SEU) until 2015-16*. As of this writing, PJM GATS reported the issuance of 11,634 DE2011-12 vintage SRECs. […]
[…] has contracted to purchase 9,846 SRECs from the project, of which 7,000 are being held by the Sustainable Energy Utility (SEU) until 2015-16*. As of February 7, 2012, PJM GATS reported the issuance of approximately 15,500 DE2011-12 […]
[…] has contracted to purchase 9,846 SRECs from the project, of which 7,000 are being held by the Sustainable Energy Utility (SEU) until 2015-16*. As of March 8, 2012, PJM GATS reported the issuance of approximately 17,300 DE2011-12 vintage […]
[…] has contracted to purchase 9,846 SRECs from the project, of which 7,000 are being held by the Sustainable Energy Utility (SEU) until 2015-16*. Additionally, the DE SREC Pilot Program solicitation is under way, with a portion of the capacity […]