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The New Jersey Office of Clean Energy reported a build of 9Mw for the month of December. (This is a preliminary number as of January 7th). If this is actually close to the final number, it indicates that the solar industry in New Jersey is finally starting to develop within the goals of the Renewable Portfolio Standard RPS set out by law.
In the previous two years solar development has been in excess of the RPS goal and caused a glut of solar credits. The ratepayers in New Jersey are protected from over-development by a competitive solar credit market based on supply and demand.
The following is a chart which shows the monthly build rates of solar compared to the RPS goals set out by law. We ran a 6 and 12 month moving average as well. There is an overlay of the SREC pricing (a monthly average of Flett Exchange daily SREC settlement prices) which demonstrates the supply-
demand relationship.
More about 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 4,400 active clients utilize Flett Exchange to negotiate the price, quantity, and details of SRECs through our brokers or on our 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, and DC 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.
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.
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