The year 2029 seems a long way off, but the extended RPS will make it easier to finance solar projects today. The renewable energy credit (REC) market in Delaware is small and thinly traded. DNREC secretary Collin O'Mara pointed out that solar power projects in the works in Dover (10 MW) and the University of Delaware (6 MW) will swamp the REC market for the foreseeable future, making it difficult to finance further projects.
As Aaron Nathans reports in the "News Journal", Motech bought the GE solar power plant, and its inventory of solar panels last winter after it had been announced that the plant would close for good. Motech managers said they plan to ramp up hiring this year.
More on the announcement can be found at the governor's website, including a one page fact sheet. The legislation will likely be introduced later this month.