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Flett Exchange announces its entry as a broker in Solar Energy in the NJ SREC program, providing a live electronic website for the state of New Jersey’s “Solar Renewable Energy Certificates” (SRECs). By using an innovative commodity platform Flett Exchange makes buying and selling of certificates on the internet fast and easy. Users benefit by seeing live buy and sell orders in real-time, providing instant price discovery through market transparency.
With Flett Exchange’s electronic platform those trading Solar Energy credits will have direct access to an open marketplace to interact with aggregators, brokers and individuals looking to buy or sell SRECs.
This platform will enable all market participants to access an open and transparent marketplace thus commoditizing the NJ SRECs. Market based pricing should help the State of New Jersey reach its goal of increasing solar capacity from 90 megawatts (MW) in 2008 to 1500 MW in 2020 and help the state go 20% green by that time. Without an SREC market the State would have to contribute $500,000,000 per year to achieve the goals. An open marketplace for SRECs will be needed to reach that type of capital requirements. Flett Exchange will enable the type of transactions needed by the program.
Flett Exchange will offer its exchange services to all market participants interested in the NJ SREC program – call Flett Exchange at (201) 209-0234.
Once accounts have been created participants will then be able to actively enter buy and sell orders in real time on the Exchange’s open market place. All transfers of SRECs are done on the NJCEP.com website.
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New Jersey