Stormwater credits allow homeowners who install green infrastructure and handle stormwater to attain and trade/sell credits to property owners who need to comply with stormwater requirements and fees.
Benefits & Problems Addressed:
Market advantages of trading: Credit and trading systems allow building owners who can exceed water quality/quantity performance standards to reap economic benefits, while allowing contributing building owners options beyond on-site stormwaer management.
Assists non-commercial tenants & owners: This technique can also help churches, schools and non-profits meet water quality standards cost-effectively.
Tips & Techniques
Program components: Trading programs generally require: (1) identification of trading site suitability, (2) credit calculators, (3) registries, (4) on-going compliance.
Provide options: Localities should have a robust Best Management Practice (BMP) catalogue to simplify participation.
Churches and non-profits are more price sensitive and may need grants to help with program participation.
Third party installers: In Washington D,C., Rainpay is a third party consultant, deinger and installer for green infrastructure
Hot Buttons: To ensure on-going benefits, localities must track properties and maintenance. Consideration of whether credits are accrued/bought in same watershed.
Examples
District of Columbia Stormwater Retention Credit (SRC) trading and RiverSmart Rewards