About the SREC Delaware Program

SREC Delaware was established in 2012 to purchase SRECs from homeowners, farmers, businesses, and others who install solar. SRECs are purchased by Delmarva Power so it can meet state mandated renewable energy goals.

What are SRECs? 

Solar Renewable Energy Credits, also known as SRECs, are credits generated by a solar system based on the electricity produced by the system. One SREC is generated for every megawatt hour (MWh), or 1,000 kilowatt hours (kWh), of electricity generated by a solar system. A typical home solar system generates between 7 and 12 SRECs per year. SRECs represent the “green” and renewable value of the electricity generated by a solar system. It is important to note that SRECs are sold separately from the electricity a system produces.

Legislative background

The market for SRECs exists due to Delaware state law known as the Renewable Portfolio Standard, or “RPS”. The RPS was established in 2007 and requires Delmarva Power to procure a certain percentage of their power from renewable energy sources. To meet this requirement, Delmarva Power buys SRECs from solar systems across the state. SREC Delaware is one option for Delawareans who have gone solar to sell their SRECs. By participating in the SREC Delaware Program, you are helping Delaware meet its renewable energy goals!

SREC Delaware Procurement Format

The SREC Delaware Program holds an annual procurement for customers who want to participate in the Program. Each procurement is unique and divides solar facilities into tiers based on their attributes, such as system size, interconnection date, and ownership type. Each procurement is bid-based – meaning that the lowest bids are accepted in each tier.

During each procurement there is a two-week window when applicants can submit bids. Each bid includes information about the system, and the price that the applicant would be willing to accept per SREC. At the end of the two-week window, the Program Administrator verifies that each bid is valid. All valid bids are ordered from lowest price to highest price, and the lowest price bids are accepted until the given tier is full. Winning bids are awarded a multi-year contract to sell their SRECs under the program.

Delaware Labor & Equipment Bonuses

The SREC Delaware Program offers bonuses for facilities that were installed using Delaware labor or that use solar equipment manufactured in Delaware. Each bonus adds 10% to your accepted bid price.

To qualify for the Labor Bonus, the solar facility must be located in Delaware and be constructed/installed either with a workforce that is at least 75% Delaware residents or by a company that employs at least 75% Delaware residents.

To qualify for the Equipment Bonus, the solar facility must be located in Delaware and have a minimum of 50% of the cost of renewable energy equipment manufactured in Delaware. Currently, solar equipment is not manufactured in Delaware, so if you have a new system installed you are unlikely to qualify for the Equipment Bonus.

How to participate

Homeowners, businesses, farmers, and other solar facility hosts can create an account on the SREC Delaware site, and then submit a bid during a Procurement.

Bids can also be submitted by Owner Representatives. Owner Representatives are typically solar companies that may offer to handle the SREC Delaware bid application as part of their installation cost. If you have recently installed solar at your home or business, you may want to ask your solar company if they plan to submit a bid to SREC Delaware before you start the process of creating an account and gathering all necessary information.

To be eligible for the program, the solar facility must either have or be eligible to obtain a Delaware State Certification number from the Delaware Public Service Commission (PSC). If you have any questions about your system’s eligibility, you can contact the PSC directly at 302-736-7500.

Read more about registering and submitting a bid on the Registration & Bidding Instructions page.