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Flett Exchange, LLC. signed up its 150th customer for its New Jersey Solar Renewable Energy Certificate NJ SREC Market this week. Producers of solar energy in New Jersey earn certificates (SREC) that they can sell to power producers. Power producers in New Jersey are required to generate a percentage of their power through solar and if they don’t they have to purchase SRECs from those who do produce electricity via solar.
Flett Exchange customers are made up of producers of solar energy along with electricity producers in New Jersey. The solar energy producers must be registered with New Jersey’s Clean Energy Program in order to earn the certificates. Electricity generators use Flett Exchange’s SREC market to help them procure SRECs for compliance.
Flett Exchange customers have their own username and password which enables them to log on to the Flett Exchange SREC market. The Flett Exchange SREC market is an internet based commodities trading platform. Users can see the prices that buyers are willing to pay along with the prices sellers are asking for their SRECs. All transactions for each day are listed on the marketplace as well for price comparison.
Sellers enjoy the ability to monitor price action and place orders at any time to sell their SRECs. Sellers do not have to speak to numerous aggregators as they do when they post on the bulletin board on the New Jersey Clean Energy Program (NJCEP) website.
Electric producers place bulk orders to buy SRECs on Flett Exchange. Flett Exchange deals with all of the individual sellers and handles payment and correspondence with the sellers. When the buyer’s quantity is filled Flett Exchange transfers the SRECs to the buyers account on the NJCEP website and issues one invoice. Buyers of SRECs enjoy the combination of the ease of procuring the SRECs along with the ability to move their purchase price in real time.
SREC producers and buyers can open an account with Flett Exchange, LLC by calling 201 209 0234, filling an “open an account” on the www.flettexchange.com website or by email mflett@flettexchange.com
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