The Delaware Sustainable Energy Utility (SEU) will commence its second solar renewable energy credit (SREC) procurement auction this month. Applications will open March 25 and close April 12.
The procurement program creates a market in Delaware for the buying and selling of SRECs, which allow generators of renewable energy to sell credits to Delmarva Power for its compliance with state standards for renewable energy development.
These credits can accrue automatically to solar panel owners and often can be traded and sold like stocks on the stock market, explains SREC service provider SRECTrade, which is serving as the procurement agent for the program.
The procurement program for 2013 is being improved based on an evaluation and recommendations by the Delaware Renewable Energy Task Force which made recommendations to the Public Service Commission as part of Delmarva Power's petition to enter into an agreement with the SEU to offer the auction, SRECTrade adds.
One important change approved by the Public Service Commission is an expansion of the program to enable owners of solar systems installed prior to December 30, 2010, to participate.
‘Building on our very successful Solar Pilot Program in 2012, [when] 9,800 SRECs were procured and 91 new solar projects were incented, this second auction is the latest step taken by the SEU to create jobs and promote renewable energy,’ says Sen. Harris B. McDowell III, chairman of the SEU.
The new auction will be hosted at www.SRECDelaware.com, and all program information regarding the procurement will be posted on the site.
