New Jersey SREC Prices Reach 3 Year Highs!
New Jersey SREC prices have rallied to the highest level seen since January 2012! SRECs are trading above $200 for both 2014 and 2015 energy years.
Prices have rallied for a few reasons:
1. Legislation passed by the Democrats and signed into law by Governor Christie in the summer of 2012 to save the solar market is working.
2. The new solar installations have been very light on a monthly basis as reported by the New Jersey Board of Public Utilities. Only 7.7 Mw were installed in November.
3. Prices have rallied in prior years at this time of the year due to energy companies buying SRECs for hedging purposes.
4. There are not as many SRECs available for sale on the spot market the first half of the energy year because many of the large installations use their first SRECs to deliver against long term contracts.
We expect the rate of solar installations to pick up in the coming months due to the favorable economics of solar investing in New Jersey – low panel prices coupled with higher SRECs and historically high electricity prices in New Jersey. If there are high installation rates on a continual basis it will lead to lower SREC prices in the future. In the meantime prices seem to be on an up-trend.
If you would like to take advantage of the higher prices and sell any of your SRECs you have a few options at Flett Exchange:
1. Log into your account on the Flett Exchange Trading Platform to list your SRECs for sale at any price you like.
2. Check our ” Sell Now Price” on our Website and transfer your SRECs to Flett Exchange LLC on GATs.
3. Call our trading desk at 201-209-0234 and speak to one of our brokers who can help you with GATs transfers.
4. Large volume sellers can call our brokerage desk (201-209-0234) for direct OTC spot and forward bilateral contracts.
As always, we remit payment within 24 hours for spot transactions.
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.