Congratulations, your solar loan has been paid off!
Now that it is paid off, PSE&G will turn over the rights to you to sell your SRECs and keep the money yourself. Solar arrays in New Jersey earn SRECs for 15 years. Most PSE&G solar loan customers will pay off their loans within 9 or 10 years which leaves 5 or 6 years of SREC revenue for the system owner.
You will receive a document called “Your Solar Loan: Offboarding” from PSE&G. It details the steps that you must take to ensure that you get the SRECs.
This is where Flett Exchange comes in. We offer two services for owners of solar in New Jersey to sell their SRECs. Here they are:
This service is for those who want to handle their own GATS account (this is where you enter
meter readings each month, mint SRECs and transfer them to buyers). Flett Exchange is used
by thousands of solar owners to
sell their SRECs. It is like a stock exchange for SRECs. Energy companies compete for your
so you know you get the market price.
When you sell on Flett Exchange you transfer your SRECs on GATs to Flett Exchange. Flett Exchange pays you the same day. The fee is only $2.50 per SRECs for homeowners. Larger commercial arrays pay less $0 to $2.50 per SREC (You can reach out directly to us to determine your rate). With the do-it-yourself service you can sell your SRECs to anyone –not just Flett Exchange.
Sign up by clicking here.
This is our full-service SREC management program. We will handle your GATS account, enter
meter readings each month, mint your SRECs and sell them in a block with all of our
customers. (this results in a slightly higher price because you are one a few thousand
We pay you in the middle of each month via check or ACH as long as you generate enough energy to create an SREC.
Sign up by clicking here.
Here are the steps for setting up a Do-it-yourself Account
Here are the steps for setting up a Rec Manager Account:
Your Solar Loan: Offboarding
Congratulations on paying off your Solar Loan with Public Service Electric and Gas Company (“PSE&G”). We appreciate your participation in this important renewable energy program.
PSE&G no longer needs to read your inverter meter, and therefore will no longer be creating SRECs on your behalf. As a result, we will be transferring ownership and responsibility for the inverter meter to you.
If you are going to use the Flett REC-Manager full-service, Flett Exchange will supply a pre-filled Schedule A for you to sign and we will submit it to GATS. You do not have to register with GATS. To do this apply for the Flett REC manager service here:
If you plan on using a Flett Exchange Do-it-Yourself account, Register for your Do-it-Yourself Flett Exchange account here:yellow if you are going to manage your own GATS account and use the Do-it-yourself Flett Exchange service.
We encourage you to establish an account with PJM GATS as soon as possible, so that we may transfer your SREC account to you. You may be eligible for additional years of SRECs, but you must first establish an account.
To create an account and learn about obtaining SRECs, visit http://www.pjm-eis.com and click on the “GATS Sign In” button located in the upper-left portion of the screen. Select “Not a Member? Register Here” to set up a new GATS account. Be sure to select “Generator” as the type of GATS account you are creating.
You will need to submit a Schedule A document to PJM GATS in order to initiate the transfer of your SREC account. The Schedule A can be found in the documents section on the PJM GATS website.
Additional information can be found on the PJM GATS website under “Getting Started”.
If you have any questions, please email SolarLoan@PSEG.com. Thank you for the opportunity to serve you.
Please refer to the information below for answers to frequently-asked questions regarding your paid-off solar loan.Here is a link to the PSE&G website for legacy Solar Loan Participants.
Once your PSE&G Solar Loan is satisfied, PSE&G will no longer manage the SREC
system. You will need to establish your own account in the PJM Generation
System (GATS) http://www.pjm-eis.com, and create and sell your own SRECs.
You will need to
contact PSE&G with your new GATS number so that we can register your account
(If you want Flett REC-Manager service do not open an account at GATS. Flett Exchange will do this for you. All you need to do is apply for a Flett REC Manager account here: https://www.flettexchange.com/register-pseg)
The meter remains in place. If you decide to replace the inverter meter
currently on your
property, PSE&G will work with your installer to remove the old meter in
order to minimize
time the system will need to be offline.
(If you choose Flett REC Manager we will work with you to read your meter each month.)
To transfer your account, submit your Schedule A Form to PJM GATS. The form can be found at http://www.pjm-eis.com/.
Please refer to the PJM GATS website for instructions on how to enter generation data to create SRECs here: https://www.pjm-eis.com/getting-started/rec-creation.aspx
(If you want a Flett REC Manager full service account we will enter your meter readings and sell your SRECs automatically. Apply for a Flett REC-Manager account here: https://www.flettexchange.com/register-pseg)
Flett Exchange SREC marketplace is where solar owners get the market price for their SRECs. Over 10,000 homeowners with solar in New Jersey use Flett Exchange to sell their SRECs. Energy companies compete for your SRECs which ensures that you receive the going market price. If you are going to sell your own SRECs register for a Do-it-Yourself account at Flett Exchange here: https://www.flettexchange.com/self-registration.
Since the PSE&G Solar Loan has been paid off, we no longer guarantee the floor price as stated on the Solar Loan Agreement. The price of SRECs will be determined by market value.
As of 2015 the Call Option was terminated and will no longer be exercised.
Direct any questions about GATS SREC creation to: firstname.lastname@example.org or
If you have questions about PSE&G and the Solar Loan program contact: SolarLoan@PSEG.com
Questions about SREC selling by the Do-it-yourself option or the Flett REC-Manager contact: email@example.com or call us in the office at 201-209-0234.
Apply for Flett Do-it-yourself at: https://www.flettexchange.com/self-registration
Apply for Flett REC-Manager at: https://www.flettexchange.com/register-pseg