The New Jersey Board of Public Utilities (NJBPU) today proposed a rule to amend the Solar Renewable Energy Certificate (SREC) program. The rule proposal amends the SREC Registration Program (SRP) to include a process for the Board determining that 5.1 percent of the electricity sold in New Jersey has been attained from solar electric generation facilities. The Clean Energy Act of 2018 requires the closure of the current SREC program to new applications either when the state meets the 5.1 percent milestone or by June 2021, whichever comes first. The proposed rule will be published in the New Jersey Register with a 60-day public comment period.
“New Jersey’s solar program has been incredibly successful, recently surpassing 110,000 solar installations, creating an estimated 7,000 jobs, and rapidly approaching the 3 Gigawatt milestone. The state has a strong interest in seeing an effective solar program continue,” said NJBPU President Joseph L. Fiordaliso. “As we transition to a new solar program central to our goal of achieving 100 percent clean energy by 2050, we remain committed to ensuring a healthy solar market which continues to play a critical role for the benefit of all New Jersey residents.”
Under the rule proposed today, NJBPU staff would provide the Board with quarterly status reports on the progress toward the 5.1 percent threshold until it appears that this milestone will be reached within six months. Subsequently, staff will provide monthly forecasts. As soon as the 5.1 percent milestone is reached, staff will recommend the Board terminate the SRP. At that point, projects conditionally registered after October 29, 2018 which have not commenced commercial operations will not be certified as eligible to create SRECs.
The Board will publicly announce that the 5.1 percent milestone has been reached when the state’s installed solar capacity is estimated to have produced 5.1 percent of the retail sales estimated to have been sold over the previous twelve months. The Board is committed to providing an open and transparent public dialogue prior to the termination of the SREC registration program on whether Board action is necessary to ensure that the solar market in New Jersey continues to remain healthy.
About the New Jersey Board of Public Utilities (NJBPU)
The NJBPU is a state agency and regulatory authority mandated to ensure safe, adequate and proper utility services at reasonable rates for New Jersey customers. Critical services regulated by the NJBPU include natural gas, electricity, water, wastewater, telecommunications and cable television. The Board has general oversight and responsibility for monitoring utility service, responding to consumer complaints, and investigating utility accidents. To find out more about the NJBPU, visit our web site at www.nj.gov/bpu.
About the New Jersey Clean Energy Program (NJCEP)
The NJCEP, established on January 22, 2003, in accordance with the Electric Discount and Energy Competition Act (EDECA), provides financial and other incentives to the State's residential customers, businesses and schools that install high-efficiency or renewable energy technologies, thereby reducing energy usage, lowering customers' energy bills and reducing environmental impacts. The program is authorized and overseen by the New Jersey Board of Public Utilities (NJBPU), and its website is www.NJCleanEnergy.com.
DISCLAIMER: Maryland SREC prices are volatile. Buyers and sellers of SRECs must do their own research. The above projections are subject to change as market dynamics change.
Flett Exchange is pleased to announce the results of today’s public auction. The clearing price was $296.00for 752 New Jersey Solar Renewable Energy Certificates SREC. This clearing price is the highest price achieved for the Sale of energy year 2012 SRECs since last July. The sale was conducted for The Mount Laural MUA, Bordentown Regional School District, Town of Morristown, Borough of Waldwick and Sparta Township.
Prices for New Jersey SRECs have appreciated in the last month in anticipation of potential changes in legislation. The legislation may require electric companies to procure more SRECs. The State of New Jersey has experienced a tremendous influx of investment in solar in the last twelve months. This investment has outstripped the requirements for electric companies to purchase SRECs for the next 2 years by an estimated 40%. The SREC market is designed to protect the ratepayer from an overinvestment of solar and has dropped accordingly.
The sale was conducted on the Flett Exchange trading platform. Public officials choose to utilize the Flett Exchange auctions to ensure that the price they receive for SRECs is competitive and transparent. The sales are all conducted on the Flett Exchange Internet Platform and is viewable to the public in real-time during the sale. Flett Exchange advertises the sales to all of the electric companies that are required by law to procure SRECs for renewable portfolio standards.
Town Managers can schedule to sell their SRECs in an easy and transparent fashion by filling out the Public Auction Request form or calling us at our Jersey City office.
Not only is it transparent, it is FREE for sellers! Flett Exchange charges a nominal $5 per SREC fee to the buyers.
More on Flett Exchange:
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. 201-209-0324
September 7, 2011 – Flett Exchange is pleased to announce the results of the Stafford Township School District Solar Renewable Energy Credit SREC auction. The sale consisted of 273 credits representing solar energy generated during the 2011 energy year. The sale cleared at $645.01 per SREC. The 2011 energy year runs from June 2010 to May 2011. Flett Exchange charges no commissions to public entities and the proceeds to the District were $176,087.73. The sale was conducted on the Flett Exchange Electronic trading platform. All bids are shown in real time with absolute transparency. Market participation was strong with numerous electric providers competing to fulfill their renewable portfolio standard. Recent strength was seen in the tail end of the 2011 energy year compliance period. Competitive suppliers were given their final tru-up formula from the New Jersey Board of Public Utilities on August 29th. There was surprise in the industry from the side of the competitive electric suppliers with the release of the formula. Final SREC obligations were higher for competitive suppliers based upon a shift away from the basic generation services BGS suppliers who competitive suppliers have solicited business and homeowners to switch from in an increasing rate during the last year and a half. The BGS suppliers, who contract to supply power in 3 year intervals are exempt from increases in the solar carve out increases under the Solar Advancement and Fair Competition Act which changed SREC obligations from a percentage of power supplied to a fixed number. When the BGS supply contracts expire the SREC obligations will even out again. Market volatility has increased in the last month while the last few SRECs make their way to the market. Market sellers at this point are taking large risks since SRECs that are not sold in time for the October 1st deadline can be used for the following year however those prices are currently trading in the high $100s. SRECs for the 2011 energy year traded as high as $640 on the Flett Exchange spot platform which is used by facilities ranging from homeowners with 1 SREC to multi-megawatt facilities with thousands of SRECs. Energy year 2012 SRECs (June 2011 to May 2012 generation) are trading $170 today for immediate payment and delivery. More on Flett Exchange: Flett Exchange is the leading environmental exchange and brokerage firm. Our online trading platform brings transparency, price discovery, and liquidity to Solar Renewable Energy Certificates (SRECs). Over 3,300 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 (it’s simple sell a SREC and receive a check!) 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 brokers bilateral long-term SREC contracts between qualified counterparties. Flett Exchange buyers and sellers can secure price, quantity, and terms of SREC contracts 1-7 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.v
April 20, 2011 – Flett Exchange is pleased to announce the results of the Atlantic County Utilities Authority (ACUA), New Jersey Solar Renewable Energy Certificate (SREC) public-auction. 101 New Jersey 2011 SRECs were sold at a clearing price of $655.00. The sale was conducted on Flett Exchange’s online, transparent environmental exchange under its “Public-Auction SREC Market” and total market proceeds equaled $66,155.00. Qualified buyers and the public could participate and/or observe the bidding in real time by logging in to Flett Exchange. The $655.00 clearing price is 97% of the $675 Solar Alternative Compliance Payment (SACP). The SACP is the payment electric producers have to pay to the State of New Jersey if they do not produce a specified amount of electricity using solar energy or through the purchase of SRECs from facilities located in New Jersey. This activity supports solar development in New Jersey and SREC revenue goes to entities that take risk in developing solar facilities. More on Flett Exchange: 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). Over 2,500 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 (it’s simple sell a SREC and receive a check!) 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 brokers bilateral long-term SREC contracts between qualified counterparties. Flett Exchange buyers and sellers can secure price, quantity, and terms of SREC contracts 1-7 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.
April 19, 2011 – Flett Exchange is pleased to announce the results of the Mt. Laurel MUA, New Jersey Solar Renewable Energy Certificate (SREC) public-auction. 191 New Jersey 2011 SRECs were sold at a clearing price of $655.00. The sale was conducted on Flett Exchange’s online, transparent environmental exchange under its “Public-Auction SREC Market” and total market proceeds equaled $125,105.00. Qualified buyers and the public could participate and/or observe the bidding in real time by logging in to Flett Exchange. The $655.00 clearing price is 97% of the $675 Solar Alternative Compliance Payment (SACP). The SACP is the payment electric producers have to pay to the State of New Jersey if they do not produce a specified amount of electricity using solar energy or through the purchase of SRECs from facilities located in New Jersey. This activity supports solar development in New Jersey and SREC revenue goes to entities that take risk in developing solar facilities. More on Flett Exchange: 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). Over 2,500 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 (it’s simple sell a SREC and receive a check!) 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 brokers bilateral long-term SREC contracts between qualified counterparties. Flett Exchange buyers and sellers can secure price, quantity, and terms of SREC contracts 1-7 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.
March 29th, 2011 – Flett Exchange is pleased to announce the results of the Jersey City, NJ Public Schools Solar Renewable Energy Certificate (SREC) public-auction. 277 New Jersey 2010 SRECs were sold at a clearing price of $643.50 and 285 New Jersey 2011 SRECs were sold at a clearing price of $655.00 The sale was conducted on Flett Exchange’s online, transparent environmental exchange under its “Public-Auction SREC Market” and total market proceeds equaled $364,924.50. Qualified buyers and the public could participate and/or observe the bidding in real time by logging in to Flett Exchange. The $655.00 clearing price is 97% of the $675 Solar Alternative Compliance Payment (SACP). The SACP is the payment electric producers have to pay to the State of New Jersey if they do not produce a specified amount of electricity using solar energy or through the purchase of SRECs from facilities located in New Jersey. This activity supports solar development in New Jersey and SREC revenue goes to entities that take risk in developing solar facilities. More on Flett Exchange: 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). Over 2,500 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 (it’s simple sell a SREC and receive a check!) 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 brokers bilateral long-term SREC contracts between qualified counterparties. Flett Exchange buyers and sellers can secure price, quantity, and terms of SREC contracts 1-7 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
Flett Exchange is pleased to announce the results of the Atlantic County Utilities Authority (ACUA) Solar Renewable Energy Certificate (SREC) public-auction. 145 New Jersey 2011 SRECs were sold at a clearing price of $660.00. The sale was conducted on Flett Exchange’s online, transparent environmental exchange under its “Public-Auction SREC Market” and total market proceeds equaled $95,700.00 Qualified buyers and the public could participate and/or observe the bidding in real time by logging in to Flett Exchange.
The $660.00 clearing price is 98% of the $675 Solar Alternative Compliance Payment (SACP). The SACP is the payment electric producers have to pay to the State of New Jersey if they do not produce a specified amount of electricity using solar energy or through the purchase of SRECs from facilities located in New Jersey. This activity supports solar development in New Jersey and SREC revenue goes to entities that take risk in developing solar facilities.
More on Flett Exchange:
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). Over 2,200 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 (it’s simple sell a SREC and receive a check!) 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 brokers bilateral long-term SREC contracts between qualified counterparties. Flett Exchange buyers and sellers can secure price, quantity, and terms of SREC contracts 1-7 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.
Flett Exchange is pleased to announce the results of the Lawrence Township Public Schools Solar Renewable Energy Certificate (SREC) public-auction. 119 New Jersey 2010 SRECs were sold at a clearing price of $649.00 and 415 New Jersey 2011 SRECs were sold at $655.00. The sale was conducted on Flett Exchange’s online, transparent environmental exchange under its “Public-Auction SREC Market” and total market proceeds equaled $349,056.00. Qualified buyers and the public could observe the bidding in real time by logging in to Flett Exchange. The $655.00 clearing price is 97% of the $675 Solar Alternative Compliance Payment (SACP). The SACP is the payment electric producers have to pay to the State of New Jersey if they do not produce a specified amount of electricity using solar energy or through the purchase of SRECs from facilities located in New Jersey. This activity supports solar development in New Jersey and SREC revenue goes to entities that take risk in developing solar facilities. More on Flett Exchange: 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). Over 1,800 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 (it’s simple sell a SREC and get a check!) 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 brokers bilateral long-term SREC contracts between qualified counterparties. Flett Exchange buyers and sellers can secure price, quantity, and terms of SREC contracts 1-7 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.
Flett Exchange is pleased to announce the results of the Sparta Township Solar Renewable Energy Certificate (SREC) sale. 40 energy year 2010 New Jersey SRECs were sold at a clearing price of $679.00 on Flett Exchange Friday, August 13th 2010. The sale was conducted on Flett Exchange’s electronic marketplace under its Public SREC Auction and total market proceeds equaled $27,160.00 Registered buyers and the public could observe the bidding in real time by logging in to Flett Exchange. The $679.00 clearing price is 98% of the $693 Solar Alternative Compliance Payment (SACP). The SACP is the payment electric producers have to pay to the State of New Jersey if they do not produce a specified amount of electricity using solar energy or through the purchase of SRECs from facilities located in New Jersey. The auction was oversubscribed and there was strong participation by Load Serving Entities (LSE’s) trying to procure SRECs. This activity supports solar development in New Jersey and SREC revenue goes to entities that take risk in developing solar facilities.
Flett Exchange is pleased to announce the results of the Atlantic County Utilities Authority (ACUA) Solar Renewable Energy Certificate (SREC) sale. 244 energy year 2010 New Jersey SRECs were sold at a clearing price of $683.00, which is a Flett Exchange contract high! The sale was conducted on Flett Exchange’s electronic marketplace under its Public-Auction SREC Market and total market proceeds equaled $166,652.00. Registered buyers and the public could observe the bidding in real time by logging in to Flett Exchange.
The $683 clearing price is 98.5% of the $693 Solar Alternative Compliance Payment (SACP). The SACP is the payment electric producers have to pay to the State of New Jersey if they do not produce a specified amount of electricity using solar energy or through the purchase of SRECs from facilities located in New Jersey. The auction was oversubscribed and there was strong participation by Load Serving Entities (LSE’s) trying to procure SRECs. This activity supports solar development in New Jersey and SREC revenue goes to entities that take risk in developing solar facilities.
More about the ACUA: “The Atlantic County Utilities Authority is responsible for enhancing the quality of life through the protection of waters and lands from pollution by providing responsible waste management services. The Authority is an environmental leader and will continue to use new technologies, innovations and employee ideas to provide the highest quality and most cost effective environmental services.”
The ACUA generated these Solar RECs from a solar facility located on their waste water treatment plant.
Flett Exchange is pleased to announce the results of the Township of Verona Solar Renewable Energy Certificate (SREC) public-auction. 79 Energy Year 2010 New Jersey SRECs were sold at a clearing price of $675.00. The sale was conducted on Flett Exchange’s online, transparent environmental exchange under its “Public-Auction SREC Market” and total market proceeds equaled $53,325.00. Qualified buyers and the public could observe the bidding in real time by logging in to Flett Exchange. The $675.00 clearing price is 97.4% of the $693 Alternative Compliance Payment (ACP). The ACP is the payment electric producers have to pay to the State of New Jersey if they do not produce a specified amount of electricity using solar energy or through the purchase of SRECs from facilities located in New Jersey. This activity supports solar development in New Jersey and SREC revenue goes to entities that take risk in developing solar facilities.
Flett Exchange is pleased to announce the results of the Lawrence Township Public Schools Solar Renewable Energy Certificate (SREC) public-auction. 238 Energy Year 2010 New Jersey SRECs were sold at a clearing price of $678.10. The sale was conducted on Flett Exchange’s online, transparent environmental exchange under its “Public-Auction SREC Market” and total market proceeds equaled $191,902.30. Qualified buyers and the public could observe the bidding in real time by logging in to Flett Exchange. The $678.10 clearing price is 98.7% of the $693 Alternative Compliance Payment (ACP). The ACP is the payment electric producers have to pay to the State of New Jersey if they do not produce a specified amount of electricity using solar energy or through the purchase of SRECs from facilities located in New Jersey. This activity supports solar development in New Jersey and SREC revenue goes to entities that take risk in developing solar facilities.
U.S. Environmental Protection Agency Honors N.J. Board of Public Utilities
SREC Financing Model Receives Clean Air Excellence Award in Regulatory and Policy Innovations Category
NEWARK, N.J. – The New Jersey Board of Public Utilities (NJBPU) and New Jersey’s Clean Energy ProgramTM (NJCEP) have been recognized for New Jersey’s innovative solar financing model by the U.S. Environmental Protection Agency (EPA) through the Clean Air Excellence Awards Program. Established in 2000 at the recommendation of the Clean Air Act Advisory Committee, the Clean Air Excellence Awards Program annually honors outstanding innovative efforts that advance progress in achieving cleaner air. Award-winning organizations directly or indirectly reduce pollutant emissions, demonstrate innovation, offer sustainable outcomes, and provide a model for others to follow.
Recognized in the Regulatory and Policy Innovations category, New Jersey’s solar financing model is based on the use of Solar Renewable Energy Certificates or SRECs. Representing all of the clean energy benefits of a solar energy system, SRECs can be sold or traded separately from the power, providing solar system owners a recurring source of revenue to help offset the cost of installation.
“We are honored to receive this award from the EPA,” said Lee Solomon, President, NJBPU. “New Jersey’s SREC program is the first in the nation to successfully begin the transition from up-front incentives to a market-based system for project finance. By avoiding upfront incentives, the SREC program lowers the financial impact on ratepayers while continuing to motivate solar electricity installations.”
New Jersey is one of the fastest growing solar markets in the nation and one of the largest in terms of both installations and installed capacity. As of April 2010, more than 5,800 solar energy systems totaling 157 MW of solar capacity have been installed across the state. In addition to the use of SRECs, NJBPU’s integrated approach to solar development includes a strong Renewable Portfolio Standard with a solar set-aside that has helped to create sustainable demand and investor confidence. Interconnection and net metering standards have also made it easier for systems to connect to the distribution system.
“Innovation and commitment are the keys to environmental progress, and our Clean Air Excellence Award winners are tremendous examples,” said Gina McCarthy, EPA Assistant Administrator for Air and Radiation. “As we look to the future, these winners will help lead the way toward cleaner air and a healthier environment.”
For more information about the NJBPU or New Jersey’s Clean Energy Program visit NJCleanEnergy.com or call 866-NJSMART.
About the New Jersey Board of Public Utilities (NJBPU) The NJBPU is a state agency and regulatory authority mandated to ensure safe, adequate and proper utility services at reasonable rates for New Jersey customers. Critical services regulated by the NJBPU include natural gas, electricity, water, wastewater, telecommunications and cable television. The Board has general oversight responsibility for monitoring utility service, responding to consumer complaints, and investigating utility accidents. To find out more about the NJBPU, visit our web site at www.nj.gov/bpu.
About the New Jersey Clean Energy Program (NJCEP)
NJCEP, established on January 22, 2003, in accordance with the Electric Discount and Energy Competition Act (EDECA), provides financial and other incentives to the State’s residential customers, businesses and schools that install high-efficiency or renewable energy technologies, thereby reducing energy usage, lowering customers’ energy bills and reducing environmental impacts. The program is authorized and overseen by the New Jersey Board of Public Utilities (NJBPU), and its website is www.njcleanenergy.com.
Flett Exchange is pleased to announce the results of the Atlantic County Utilities Authority (ACUA) Solar Renewable Energy Certificate (SREC) sale. 100 energy year 2010 New Jersey SRECs were sold at a clearing price of $676.25. The sale was conducted on Flett Exchange’s electronic marketplace under its Public-Auction SREC Market and total market proceeds equaled $67,625. Registered buyers and the public could observe the bidding in real time by logging in to Flett Exchange.
The $676.25 clearing price is 97.5% of the $693 Alternative Compliance Payment (ACP). The ACP is the payment electric producers have to pay to the State of New Jersey if they do not produce a specified amount of electricity using solar energy or through the purchase of SRECs from facilities located in New Jersey. The auction was oversubscribed and there was strong participation by Load Serving Entities (LSE’s) trying to procure SRECs. This activity supports solar development in New Jersey and SREC revenue goes to entities that take risk in developing solar facilities.
More about the ACUA: “The Atlantic County Utilities Authority is responsible for enhancing the quality of life through the protection of waters and lands from pollution by providing responsible waste management services. The Authority is an environmental leader and will continue to use new technologies, innovations and employee ideas to provide the highest quality and most cost effective environmental services.”
The ACUA generated these Solar RECs from a solar facility located on their waste water treatment plant.
Flett Exchange is pleased to announce the results of the Town of Morristown Solar Renewable Energy Certificate (SREC) sale. 293 energy year 2010 New Jersey SRECs were sold at a clearing price of $672.00. The sale was conducted Flett Exchange’s electronic marketplace under its Public-Auction SREC Market and total market proceeds equaled $196,896. Registered buyers and the public could observe the bidding in real time by logging in to Flett Exchange. The $672 clearing price is 97% of the $693 Alternative Compliance Payment (ACP). The ACP is the payment electric producers have to pay to the State of New Jersey if they do not produce a specified amount of electricity using solar energy or through the purchase of SRECs from facilities located in New Jersey. The auction was oversubscribed by over 300% and there was strong participation by Load Serving Entities (LSE’s) trying to purchase SRECS. This activity supports solar development in New Jersey and SREC revenue goes to entities that take risk in developing solar facilities. The Town of Morristown generated these Solar RECs from a solar facility located on their waste water treatment plant.
