Sustainable Energy Utility (SEU), a Delaware-based energy nonprofit, has created a new solar renewable energy credit (SREC) market designed to help stabilize prices for SRECs through long-term contracts between owners of new solar systems and the SEU.
The new market also will help fuel job growth in the state's solar power industry, according to John Byrne, the University of Delaware professor who designed the statewide market and serves as the SEU's co-chairman.
The SEU's pilot program is aimed at creating a market to help manage the buying and selling of the credits in Delaware. The program will be tiered, based on a project's size, in order to encourage a diverse range of projects and will include bonuses for projects using Delaware labor or Delaware-manufactured equipment.
SRECTrade won a competitive bid to manage the SEU's new program. The new market will open on April 2 and will be hosted at www.SRECDelaware.com. Program information will be posted on the site. Owners of newly built solar systems smaller than 250 kW can submit bids electronically until at least 5 p.m. ET April 6. All other new system owners can submit bids until at least 5 p.m. ET April 13.