The New Jersey SREC market has slid below $200 for the first time since September 15, 2011. The Flett Exchange marketplace settled at $195.50 today for immediate payment and delivery. Oversupply of SRECs and the lack of corrective legislative action has caused the SREC market to drop over $80 in the last week. Draft recommendations by the Office of Clean Energy suggesting the continuation of Electric Distribution Companies EDC long term contracting were discussed last week during a renewable energy committee meeting. This has caused further weakening in the SREC market. Long term EDC contracting is backed by ratepayers with 10 year fixed contracts. These contracts allow new solar to be developed risk free by solar developers. Continuation of these programs may further exacerbate oversupply and depress prices. There are still close to 88mw of EDC backed projects in the pipeline that will be installed in the next 6 months. The majority of the installations in New Jersey do not have ratepayer backed contracts. The owners of those systems may experience significant price discounts if the solar development continues in excess of the states RPS. All previous EDC backed long term contracts are at above market rates with the difference absorbed by ratepayers.
Flett Exchange is a leading environmental exchange and brokerage firm. Our online trading platform brings transparency, price discovery, and liquidity to Solar Renewable Energy Certificates (SRECs). Our knowledgeable staff is also available to assist you in selling your SRECs for you. Over 3,500 active clients utilize Flett Exchange to negotiate the price, quantity, and details of SRECs in a secure and seamless online trading platform. Upon each SREC transaction Flett Exchange remits immediate payment to our sellers. Flett Exchange operates SREC markets in NJ, PA, DE, MD, OH, CT, MA, and DC and supported by trained solar professionals with specialized knowledge and proven experience.
Flett Exchange also brokers bilateral long-term SREC contracts between qualified counterparties. Flett Exchange buyers and sellers can secure price, quantity, and terms of SREC contracts 1-5 years in duration. Our stringent vetting process ensures that quality solar projects are presented to the market in a skillful manner. Buyers and sellers utilize Flett Exchange for long-term SREC contracts gain direct access to large pools of SRECs, while mitigating risk and locking-in profits. Please visit www.flettexchange.com to learn more about our services. 201-209-0234