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New Jersey SREC Prices Slip But Remain Close to Highs
The New Jersey SREC market reached a four year high on February 5th with a settlement of $289.78 on the Flett Exchange trading platform. Prices retraced $14 back down to $275 and are now trading close to $280 today.
Why have SREC prices risen?
SREC prices have remained stable and risen during the past few years because the majority of new solar installed in New Jersey are small lease systems on single family homes as opposed to large scale solar farms which can at times take up 50 or more acres of farmland. Legislation passed in 2012 limited the amount of cheaper large scale grid connect projects in favor for net metered projects (solar on or next to buildings that offset that buildings electricity). Smaller systems cost more than large systems to build so they need a higher SREC price. However, with spot SREC prices at $280 to $290 and 3 year SREC contracts at $245 we should see an increase in new solar construction in the next year.
What are solar owners doing with their SRECS?
Solar owners in New Jersey are taking advantage of the rising SREC prices and are selling any banked SRECs that they have accumulated along with any that they produce on a month to month basis. We suggest to our solar owners to sell on a consistent basis, especially as prices rise.
How do I sell?
If you are a Flett Exchange customer and would like to sell your SRECs for immediate payment and delivery you can always log into your Flett Exchange account or give us a call on the trading desk at 201-209-0234. If you are a new customer you can register for an account here. If you have a large amount of SRECs call and we will try to sell your SRECs at higher block prices.
The Quickest and Easiest way to sell:
Customers can also check out our “sell now price” on our website and transfer your SRECs to “Flett Exchange, LLC” at that price on GATS. We will take care of the rest for you and mail your check or send your proceeds via ACH.
Thank you for your continued business over the years!
Mike, Shean, Kevin, Brian and Mike
DISCLAIMER: This article contains forward looking statements. Actual market action could differ materially from those anticipated. Sellers of SRECs should do their own research. Actual SREC production may differ significantly from those estimates. The company assumes no obligation to update any forward-looking statement.