Delaware solar power projects derive their value from a range of sources, including:
- Federal 30% Investment Tax Credit
- 50% Bonus Depreciation of System
- Energy savings over the useful life of the system
- Sale of generated solar renewable energy credits (sRECs)
The state of Delaware has recently approved a pilot program to help increase the number of solar projects constructed in the state and meet RPS requirements. Under the suggested pilot program all projects under 250kW receive 20 year SREC forward contracts.
Projects larger than 250kW are also eligible for the pilot program, but no guaranteed SREC forward contract will be awarded to them initially. These projects will participate in an SREC auction where customers request a certain SREC price for a determined period of time. Projects will be awarded based on the requested SREC price per project, with the lowest asking priced projects being awarded.
To maximize in-state economic development and benefits for the RPS, there are also two content multipliers associated with the program to increase SREC generation. The two multipliers are 1) a 10% multiplier for systems that use equipment, inclusive of mounting components that are manufactured in the state of Delaware and 2) a 10% multiplier for renewable energy systems that are installed by an in-state workforce.
Select an icon below that best represents your commercial facility – total roof square footage – or energy usage in annual kilowatt-hours to generate a representative sample of a solar project either fully utilizing available space or closely meeting annual usage.
Solar projects can be scaled to suit any desired goal including capital expenditure, utility cost replacement or utilization of available space. If the illustrative results are compelling, please feel free to contact us for a customized assessment of your commercial opportunity.