SB263 Summary

• Creates a new Low-Income Solar Facility (LISF) category for solar systems serving low-income residents (below 300% of Federal Poverty Level) and homeowners with systems installed before December 1, 2010.

• Establishes separate compliance requirements for LISF solar credits (LSRECs) with minimum cumulative percentages ranging from 0.15% in 2012 to 2.50% by 2024-2025.

• Requires solar installations generating renewable energy credits to be connected to Delaware's distribution grid to qualify for the state's renewable portfolio standard.

• Reduces the Solar Alternative Compliance Payment from $400 per megawatt-hour to $247 per megawatt-hour for 2012, with subsequent annual increases of 5% instead of the previous stepped increases.

• Directs the state energy coordinator to allocate specific quantities of solar renewable energy credits to residential, commercial, and utility-scale systems and to review comparable programs offered by municipal electric companies and rural cooperatives.