Create account Log in

Posts Tagged ‘Delaware’

2017 DE SREC Procurement Results

Posted July 14th, 2017 by SRECTrade.

On July 12, SRECDelaware announced the results of the Delaware 2017 SREC Procurement auction. Delaware’s SREC Procurement Program allows for facilities to secure 20-year SREC contracts with Delmarva Power through a competitive bidding process. Delmarva holds auctions every spring separately from the open-market SREC transactions that occur on an ongoing basis.

SREC contracts awarded through the procurement are allocated according to different capacity-based “tiers”. In previous years, the auction consisted of three tiers for new systems and two tiers for existing systems. This year’s SREC procurement introduced two new tiers, representing systems over 2 MW for new and existing systems, respectively.

In this year’s Spring Procurement, Delmarva Power purchased 20,000 SRECs at the following price levels:

de-auction-results-2017

Notes

1. The highest successful bid price at each respective tier.
2. The lowest successful bid price at each respective tier.
3. The weighted average bid price of all successful bids at each respective tier.

As a whole, the 2017 Procurement was oversubscribed, as an excess of bids were submitted to the auction due to oversupply of solar in the market. In effect, the overall weighted average bid price dropped to $21.26 from last year’s $66.56.

We expect oversupply to remain an issue in the DE SREC market and with it, suppressed SREC values in the DE open-market, pending a major policy change in the state. As always, our team will continue to work closely with Delmarva Power and policymakers to ensure our clients get the best value for their SRECs in the open market.

 

Tags: , , ,
Posted in Delaware | Comments Off on 2017 DE SREC Procurement Results

Delaware Pilot SREC Procurement Program

Posted March 30th, 2012 by SRECTrade.

SRECTrade was recently awarded the contract to administer the Delaware Pilot SREC Procurement Program on behalf of the Delaware Sustainable Energy Utility (SEU) and Delmarva Power. Since receiving the contract we’ve put up a website to answer questions about the program and to accept applications for the solicitation. An overview powerpoint and webinar recording can be viewed by clicking here.

This is the first essentially state-wide SREC program to take such a long-term approach to SREC contracts. Regulators and industry observers are eager to see how this “pilot” solicitation is reviewed. Should the “pilot” be deemed successful it is likely that the SEU will hold yearly solicitations for SREC contracts.

With the Pilot SREC Procurement Program, the  SEU and Delmarva have formed a partnership to provide stable, long-term pricing (20-year contracts) for a finite amount of SRECs from systems that are accepted into the program. Among the eligible systems for the program, preferential selection and pricing  is given to systems installed with Delaware parts and/or labor. Systems under 250 kW (DC) nameplate capacity apply into a lottery solicitation, whereas systems that are greater than 250 kW (DC) must apply through a competitive bid process.  The solicitation will likely be over-subscribed with applications from among the many eligible, in-state systems. Solar systems that are not successful in the solicitation will still be able to transact SRECs outside of the Delmarva program, and could remain eligible for future solicitations or this program.

Key items

  • DE-sited solar systems interconnected on or after 12/1/2010 are eligible.
  • Systems must have online monitoring.
  • Systems that received funding from a public source other than the Federal Investment Tax Credit and DE Green Energy Program are ineligible.
  • 4/2/2012 – Solicitation opens.
  • 4/6/2012 – Solicitation will stay open at least until this date for systems <250 kW (DC) capacity, but could stay open if not all capacity is filled.
  • 4/13/2012- Solicitation closes for systems >250 kW (DC).
  • 4/23/2012 – Results announced.

    • Tags: , , , , , , ,
    Posted in Delaware, SREC Markets, State RPS | Comments Off on Delaware Pilot SREC Procurement Program

    Delaware PSC Approves SREC Procurement Pilot Program

    Posted November 15th, 2011 by SRECTrade.

    The Delaware Public Service Commission approved the SREC Procurement Pilot Program on November 8th, 2011. This program will allow qualified solar energy system owners to sell their SRECs at a fixed price for the next 20 years.

    The program will only be open to certain DE solar owners, for example, eligible facility owners must have received approval of their “Accepted Completed Solar System Interconnection Application” on or after December 1st 2010. Another requirement stipulates that the facility must not have received supplemental funding from a public source other than grants associated with the Delaware Green Energy Program “GEP”.

    The number of SRECs to be procured is tiered according to the system size from which they are obtained. They will also be priced accordingly. Based on the requirements for June 2011 through May 2012, the numbers and price are

    Tier Size (kW) Number of SRECs Percentage of Total SRECs Price, 1st 10 years Price, next 10 years
    1 <50 2972 13.4% $260 base, $235 alt+ $50
    2a 50 – 250 2,000 9.1% $240 base, $175 alt+ $50
    2b 250 – 500 2,000 9.1% Lowest Bid Price* $50
    3 500 – 2,000 4,500 20.4% Lowest Bid Price* $50
    4 >2,000 10,600 48% Lowest Bid Price* $50
    +Alternative pricing for projects that received a GEP grant before December 10 2010.
    * Prices for tiers 2b, 3 and 4 will be decided by competitive bidding amongst the applicants.

    In the event of oversubscription for facilities in Tier 1 and 2A, systems will be eliminated via lottery, starting with systems enrolled in the equipment or workforce bonus program.

    Payments will be made quarterly for Tier 1 and monthly for Tiers 2 and 3. The energy production must be measured by at least a standard, utility grade meter and online monitoring for Tier 1 systems, and a revenue grade meter with online monitoring for Tiers 2 and 3.

    Facilities are obliged to deliver the number of SRECs as estimated for their system size when they apply. The Sustainable Energy Utility is obliged to purchase up to 110% of the estimated SRECs, but may choose not to purchase any additional surplus SRECs.

    This program will likely commence this winter or spring, and SRECTrade will be supporting this program for all of our installers and their customers. Look out for a future email regarding the SREC Pilot Program.

    Tags: , , , , , , , , , , , , , , ,
    Posted in Delaware, SREC Markets, SREC Pricing | 2 Comments »

    SRECTrade Now in Delaware

    Posted June 18th, 2009 by SRECTrade.

    For our July 10th auction, SRECTrade plans on having a fully functional multi-state platform in place with seven new states and the ability to cross-list your SREC in multiple states. Delaware is a fairly new and liberal market for the exchange of SRECs. There are no restrictions on exporting SRECs and the state Renewable Portfolio Standard (RPS) has a specific carve-out for Solar through 2019. The standard is 20% renewables by 2019, with solar representing 2.005%.

    If an electricity supplier (utility) doesn’t reach the solar-carve out threshold with their own solar supply or by purchasing SRECs, they must pay a Solar Alternative Compliance Payment (SACP) as an offsetting penalty into a state renewable energy fund. In Delaware, the SACP begins at $250 per MWh and increases $50 every year if a utility didn’t reach the threshold in the previous year. So there is a big incentive to buy SRECs to reach the threshold. This is why SREC prices follow SACP prices.

    This year in Delaware, SRECs have fetched prices between $200-$250. However, as time progresses, if utilities don’t meet the solar threshold, you will see the SACP average price climb because of the $50 per year increase, and the SREC price will follow.

    Additionally, since other states have different structures for their SACP price, they will have different prices for their SRECs. If you register your Delaware system in other states (e.g., Pennsylvania), you will be able to sell your SRECs in the states you are registered in by checking the cross-list box on the SRECTrade.com order. We’ll make sure you get the best price possible in your eligible states.

    How to get started in Delaware:

    1. Certify your PV system: your installer will provide you with the information to get your system certified by the state.

    2. Option A: Sign up for our EasyBid service, and we’ll handle your SRECs. We’ll take care of registering your system with GATS, and cross-listing your SRECs on our multi-state auction platform every month to make sure you get the best price for your SRECs.

    Option B: Sign up for GATS yourself in Delaware, as well as other states that accept Delaware SRECs (Pennsylvania and Maryland to start). Then post your SRECs every month on SRECTrade.com or find a third-party to sell your SRECs.

    Tags: , , , , , , , ,
    Posted in Delaware | Comments Off on SRECTrade Now in Delaware

    Clients
    Markets
    About
    Legal

    © 2024 SRECTrade, Inc. All rights reserved.