Flett Exchange has entered the NJ SREC program as a broker, bringing 12 years of energy trading and brokering experience along with their innovative internet trading platform. This trading platform will lend market transparency and real-time price discovery to the NJ SREC program. This increased market transparency should help the SREC program and the state of New Jersey achieve its goal of implementing 20% renewable energy by 2020.
As volume increases, the Flett Exchange platform will be able to handle greater demand for credits and mirror a true market environment. Trading on Flett Exchange will benefit solar energy system operators because they can now control how quickly they modify prices and trade credits. Better tools will also allow businesses required to meet the state set renewable portfolio standard (RPS) to revaluate their compliance portfolio. A more efficient SREC market will increase the confidence of new solar energy operators who are considering installing solar enerfy systems. With more participants and projected increases in the current cap of $300 per credit, greater market activity will be generated and higher volume reached, all of which will help New Jersey achieve its long term goal of implementing 20% renewable energy by 2020.