The First State has a strong Renewable Portfolio Standard (RPS) with a specific solar carve-out which requires that 3.5% of all the electricity sold annually in Delaware come from solar generation by 2026. Electricity providers demonstrate compliance with the RPS by purchasing Solar Renewable Energy Credits (SRECs).
An SREC represents the environmental attributes derived from each megawatt-hour (MWh) of electricity produced by a solar photovoltaic system: 1 SREC = 1 MWh = 1,000 kWh of solar production.
In Delaware, the SREC value received per MWh produced is in addition to the underlying value of the electricity produced by the solar system.
The Program provides attractive long-term Delaware SREC incentives for commercial solar system owners in the form of long term fixed 20-year SREC contracts.
The combination of Delaware and Federal solar incentives currently offers commercial solar system owners the opportunity to generate superior long-term economic returns. In addition, a number of third-party solar arrangements are available which allow businesses to go solar without any capital outlay.
Contact EnterSolar to learn how the Delaware Solar Incentives can benefit your business.