Friday, September 26, 2014
District Department of the Environment Approves First Stormwater Retention Credit Trade
The Center operates a clearinghouse, the Stormwater Credit Exchange (SCE), to promote the DDOE's Stormwater Retention Credits Program.
The trade demonstrates how the SRC market can provide meaningful financial returns for voluntary installations of green infrastructure that reduce harmful stormwater runoff.
Under the District’s current stormwater management regulations, development projects permitted after January 2014 must meet river-protecting stormwater retention standards and can meet a portion of this requirement by using SRCs. Projects using SRCs must own them by the end of construction, which typically takes a year or longer.
The SRC market is expected to grow as additional regulated projects are completed. Trades provide a strong incentive for voluntary installations of green infrastructure.
Revenue from this trade will help cover the costs of designing, installing, and maintaining the rain gardens that generated the SRCs.
In addition to providing compliance flexibility for regulated development, SRC trading can increase the total volume of stormwater runoff being kept out of District waterbodies and provide other sustainability benefits, such as reducing the urban heat island effect and providing green jobs. (DDOE)
For more information, visit www.ddoe.dc.gov/src. For information about the regulatory requirements for retaining stormwater, triggered by certain types of construction projects, see www.ddoe.dc.gov/swregs.