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SRC Price Lock Program

Through DOEE's Stormwater Retention Credit (SRC) Price Lock Program, eligible SRC generators have the option to sell SRCs to DOEE at fixed prices. SRC generators can participate without losing the option to sell to another buyer. The option to sell to DOEE effectively constitutes a price floor in the SRC market and offers certainty about the revenue from an SRC-generating project.

New, voluntary green infrastructure (GI) projects in the Municipal Separate Storm Sewer System (MS4) are eligible to enter into an SRC Purchase Agreement to sell their SRCs to DOEE. Prior to construction of the SRC-generating project, participants will receive a confirmed SRC selling price from DOEE. Once an SRC Purchase Agreement is signed, its terms will not change. After completing the SRC-generating project, participants have the option to sell their SRCs to DOEE at the price specified in the SRC Purchase Agreement or sell on the SRC market (at a price negotiated with the buyer).

DOEE expects that the SRC Price Lock Program will make it easier to generate SRCs on land owned by non-profits, such as churches, cemeteries, schools, and similar institutions. DOEE will prioritize funding for these projects.

DOEE has made an initial commitment of $11,500,000 to purchase SRCs through this program.

SRC Purchase Prices

SRC purchase prices will be determined based on where the project is located in the Municipal Separate Storm Sewer System (MS4). DOEE offers agreements with prices locked according to the following terms:

Non-Tidal MS4:
-Years 1 through 6: $1.95       -Years 7 through 12: $0.40

Tidal MS4:
-Years 1 through 6: $1.70       -Years 7 through 12: $0.40

CSS:
-Not eligible

Application Process

Submit your application online through the Stormwater Database. Applications will be reviewed as they are received as long as funding is available. Eligibility requirements and steps for participation are available in the program guide below.

Resources

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