Posted on Jan. 9, 2025

The average person in the United States sells a house every 13.2 years.[1] 7.1% of people aged 55-74 will sell their house in the next year. [2] Flett Exchange has over 20,000 customers who own solar on their homes and many are likely to sell their house in the next few years. Flett Exchange has helped hundreds of our customers who have sold their homes with solar transfer the SRECs to the new buyers and get them set up with SREC payments. We make it easy for sellers and buyers.

Selling a house with solar is an education process for the buyers. The current owner knows the benefits of solar and can appreciate the value that solar adds – little or no electricity bill – and monthly SRECs. SREC payments are on average $1,800 per year in New Jersey. Sellers need to educate the benefits of solar to prospective buyers. This is difficult because people who are buying a home are, and rightfully so, skeptical of what they are told.

One of our customers recently told us a story of their experience selling their house. The new owners were first time homebuyers. 
(We have all been there. Things are more expensive than we expected. Trade-offs are the name of the game. Better neighborhood, but a kitchen that needs remodeling. Then – there is solar on the house. The owner wants to recoup the investment. They know the new owners will benefit but explaining it is hard. Little or no electric bill. SREC payments. Confusion.)

The new buyers did not realize there would be little to no electricity bill. They had never heard of an SREC. The owner knew more about solar than both brokers. The owner left out electricity bills for $10 a month on the kitchen counter, receipts from Flett Exchange showing over $8,000 in SREC payments and the email and phone number for Flett Exchange. Result: the buyers paid full price for the house!

The combination of providing information and introducing a 3^rd party such as Flett Exchange helped the new buyers gain confidence in their new solar investment and the seller received their asking price.

We suggest that owners be as transparent as possible. This helps potential buyers be more at ease and more willing to pay for the solar. Provide the following information to buyers:

1. Copy of your last few months of Electric bills
2. Copy of your Flett Exchange statement showing SREC revenue. (log into Flett Exchange – a PDF can be downloaded of your sales) if you are a REC manager customer you have all of your historical SREC revenue and solar production in your Flett Exchange account.
3. Print-out of your solar production from your monitoring – if available
4. Email, phone number, and website of Flett Exchange for customers to research SREC prices themselves
5. List how many years the new owner will be able to sell SRECs. It is either 10 or 15 years from the interconnection. (if you had it for 14 years and there is only one year left let them know! They still get Class 1 RECs after SRECs – we can answer their questions)
6. Price you paid for the solar – if you own it
7. Is the solar leased or owned? (if it is leased, contact your lease company and find out the process for transferring the lease to the new owner)

Ask your real estate agent if this is something you should leave out on the kitchen table when people are looking at the house. It may make the difference of a sale or maybe them not asking for a $10,000 reduction in price. This information will help. Transparency is appreciated!

The best way to get a potential new owner at ease is to start the process for them to get paid for their SRECs. If they sign up for Flett REC Manager with Flett Exchange they get:

1. Transfer of facility ownership at GATS by Flett Exchange
2. Set up of meter readings
3. Payment for SRECs for meter readings starting at the closing date

Send Flett Exchange the new owners name and email address as soon as you have a firm closing date. We will take care of everything. Email it to Kevin and Brian at info@flettexchange.com

Note: The actual transfer in GATS cannot happen until after the closing because GATS needs proof of ownership. A copy of the deed or HUD statement is what is required. Flett Exchange does this if the buyer signs up for Flett REC Manager. If they sign up for a Flett Do-it-yourself account we will send them the steps to transfer ownership with GATS themselves.

If the new owners have SREC questions have them call us 201-209-0234 or email info@flettexchange.com

We appreciate your business and will do our best to make things easy for the new owners. It is our best way to thank you for your business over the years.

The Flett Exchange SREC Team
Kevin, Brian, John and Shean
201-209-0234
www.flettexchange.com
info@flettexchange.com
95 River Street - Suite 208
Hoboken, NJ 07030

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