Each year the SREC Delaware program is open for bids during a two-week procurement window. The SREC Delaware Program only accepts bid applications during this two-week window. During each procurement, participants submit bids for the price they would be willing to accept per SREC. At the end of the two-week window, the Program Administrator verifies that all bids are valid, and then accepts the lowest valid bids in each tier until the tier is full. Please see our About page for more information on the SREC Delaware Program.

The 2015 SREC Delaware Procurement was announced on March 12, 2015, and was open for bids from April 13, 2015, at 9:00 am EST to April 24, 2015, at 5:00 pm EST. The 2015 procurement consisted of five tiers, three (3) for new systems and two (2) for existing systems.

Contract

The 2015 SREC Delaware Procurement Program awarded 20-year contracts to successful bidders. During years 1-10, successful bidders will be paid at their procurement price for SRECs transferred under the contract. During years 11-20, successful bidders will be paid the administrative price of $35 for SRECs transferred under the contract. Successful bidders will be paid any applicable bonuses in addition to the bid price or administrative price.

Details

The 2015 Procurement had five tiers, three for new systems and two for existing systems. Bids were automatically assigned to a tier based on the attributes of the facility. Delmarva Power intended to procure a minimum of 9,000 SRECs and a maximum of 12,000 SRECs through the 2015 procurement. The chart below describes the five tiers, and the maximum number of SRECs in each tier.

New Systems

(Systems with final interconnection approval after May 5th, 2014)

Existing Systems

(Systems with final interconnection approval before May 5th, 2014)

• Note: Upon fulfillment of the 9,000 SRECs in these tiers, Delmarva Power may procure up to 3,000 more SRECs through the procurement, 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.

Changes from 2014 Procurement

1. 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.
2. 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 procurement.
3. Any and all bids above the Alternative Compliance Payment of $400 will be rejected.
4. If any tier is undersubscribed because of insufficient bids or rejected bids, bids from any other tiers can win those SRECs.
5. Delmarva reserves the right to reject any or all bids above a threshold price per SREC as determined by Delmarva.

Results

The 2015 Delaware SREC Procurement results were announced on April 29, 2015. All tiers were filled and Delmarva Power opted to accept an additional 3,000 SRECs above the original 9,000 in the base procurement. The high, low, and weighted average by tier was:

Documents & Resources

• Click here to view a recording of the instructional webinar that took place on April 8, 2015 at 1:00 PM.
• Click here to view the 2015 procurement filing.
• Click here to view the 2015 Transfer Agreement.

Other Procurements

Each procurement is unique. For information about other SREC Delaware Procurements, please click the year below:

| 2012 Pilot | 2013 | 2013 Spot Auction | 2014 | 2014 Spot Auction | 2015 | 2016 | 2017 |

| 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 |