We don't want to be overburdened with the process of selling the SRECS ourselves -- we don't even understand the process yet. On the other hand, we don't want to enroll with a traditional broker because they just take too much of the proceeds of SREC sales. I may have found a solution.
SRECTrade provides full SREC buying and selling services at minimal cost. As a matter of fact, there is no cost for the seller at all, and only a 3% commission on each SREC sale payable by the buyer. The company's website tells it all (this excerpt is from the "About Us" page):
...but soon shifted their attention to the inefficient SREC trading market in New Jersey. Residential solar producers and the utilities that wanted their SRECs were having a difficult time connecting. Brokers took advantage of this disconnect by purchasing SRECs from individual producers and selling them in bulk to utilities, often with a price markup. Buyers and sellers of SRECs were frustrated by the primitive nature of the exchange, the lack of transparency of fair SREC pricing, and the power of the brokers.These complaints were answered with SRECTrade's online auction platform, launched in August 2008.
Amazingly enough, the complaints cited in that excerpt are almost identical to the ones I made (or that I was thinking, at least) in my previous post on the subject.
The process seems effortless through the EASYBID mechanism they offer. It looks as though after an SREC seller is registered they can set an SREC price through EASYBID and let SRECTrade handle the rest of the transaction on a monthly basis, including direct deposit of the proceeds of each monthly SREC auction.
It appears that this company offers solar power producers the best value combined with convenience when it comes to selling SRECs. Maximizing the payback and minimizing the confusion and fear factor will encourage more homeowners to invest in solar electric systems. That's what this blog is all about.
As we register with SRECTrade and learn more about this company and the process I'll post about it.