Atlantic City Electric and Delmarva Power completed
solicitations to purchase Solar Renewable Energy Credits (SRECs) from customers
in New Jersey and Delaware, respectively. These purchases will provide the
financial certainty to allow for the development of more than 250 distributed
solar facilities, providing up to 24 megawatts of clean renewable energy. Both
utilities are in the process of planning the next stages of these programs.
In New Jersey, eligible residential projects included
customer-owned and -financed systems, residential new construction in smart-growth
areas (for builders and homeowners), and residential systems using a leasing or
power purchase agreement. Certain public and nonprofit projects are also
eligible–including public and nonprofit organizations, such as municipalities,
other governments, public colleges and universities, public schools (K-12) and
affordable housing communities.
In Delaware, Delmarva Power purchases
the renewable portfolio standard requirements for all of its customers.
Contracts were offered to customers and developers in tiers from small
residential systems to large commercial systems. Incentives for in-state
materials and the workforce-in-Delaware law also were taken into consideration
in selecting winning proposals.