SREC Delaware Procurements
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.
2025 SREC Procurement
The application window was open for bids from November 3rd at 9:00 am ET to November 14th at 5:00 pm EST. The 2025 procurement consists of three tiers. Each application was placed into a tier based on the system size, and interconnection date.
Contract
Winning bids in Tiers 1 and 2 received 25-year contracts. During years 1-10, successful bidders are paid at their bid price for SRECs transferred under the contract. During years 11-25, successful bidders are paid at the administrative price of $10 per SREC for SRECs transferred under the contract. Successful bidders are be paid any applicable bonuses in addition to the bid price or administrative price.
Winning bids in the Tier 3 receive 5-year contracts. Successful bidders in Tier 3 are paid at their bid price for SRECs transferred under the contract for the full 5-year contract.
Details
The 2025 SREC Delaware Procurement has three tiers: 1, 2 and 3. Bids were assigned to a tier based on the attributes of the facility. Delmarva Power intended to procure a minimum of 11,000 SRECs and a maximum of 31,000 SRECs through the 2025 procurement. The chart below describes the three tiers, and the maximum number of SRECs in each tier.
| Tier | Tier Description | Maximum SRECs in Tier |
|---|---|---|
| 1 | New In-state systems less than or equal to 2000 kW | 11,000 |
| 2 | Any Systems less than or equal to 5000 kW | 10,000 |
| 3 | New In-state systems, including community solar projects. | 10,000 |
Eligibility Criteria:
- Systems are considered “New” for bidding purposes if they are not yet constructed or have an Interconnection Approval to Operate dated November 15, 2024, or later.
- All systems bidding into Tier 1 and Tier 3 must meet this “New” system requirement.
Tier 3 Re-bidding:
- Projects awarded a contract in Tier 3 may only bid into Tier 3 again after the expiration of their initial 5-year contract.
Bid Evaluation:
- Delmarva reserves the right to reject bids it deems unreasonably high.
- Rejected bids cannot be reallocated to other tiers.
Bid Deposit Requirement:
- Projects without a Delaware Public Service Commission certification number are required to submit a bid deposit of $50 per kW.
- This deposit will be refunded once the system is interconnected and the certification number is provided via the SREC Delaware portal, or if the project application is denied.
Changes from 2024 Procurement
Timeline Changes
- 60-day window between procurement announcement and auction to ensure application and letter of credit readiness.
- Auction duration will remain open for 2 weeks.
Tier Adjustments
- Alpha and Beta Tiers (now referred to as Tier 1) are merged; customer ownership requirements are eliminated. Target 11,000 SRECs
- Gamma Tier (now referred to as Tier 2) Target 10,000 SRECs
- Delta Tier (now referred to as Tier 3) eligibility expanded to any system size. Target of 10,000 SRECs; supports shorter contract terms.
Deposit Cap
- Systems without interconnection: deposit capped at $50/kW.
Results
The 2025 SREC Delaware Procurement Results were announced on December 11th, 2025. In total, applicants submitted 32,592 SRECs, placing the program 1,592 SRECs over the program’s 31,000-SREC cap. During the December 4th Auction Results Meeting with SEU, DNREC, and Delmarva, Delmarva elected to accept all submitted bids, including those exceeding the cap. A total of 32,592 SRECs were purchased through the 2025 procurement. The high, low, and weighted average by tier was:
| Tier 1 | Tier 2 | Tier 3 | Overall | |
|---|---|---|---|---|
| High | $42.89 | $45.00 | $40.00 | $45.00 |
| Low | $32.00 | $30.00 | $30.00 | $30.00 |
| Average | $39.39 | $30.04 | $34.09 | $32.69 |
Documents & Resources
- Click here to view the 2025 Procurement Filing
- Click here to view the 2025 Transfer Agreement under 500kWh
- Click here to view the 2025 Transfer Agreement above 500kWh
- Click here to view the 2025 Procurement Application Checklist
Webinars
The SREC Delaware Program Administrator hosted two webinars providing an overview of the 2025 SREC Delaware Procurement.
- Webinar for homeowners and potential customers (October 6, 2025):
- Webinar for solar industry (October 8, 2025):
Other Procurements
Each procurement is unique. For information about other SREC Delaware Procurements, please click the year below: