http://solarpowr.blogspot.com/2009/04/its-all-about-srecs.html
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.
http://www.srectrade.com/
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.
9 comments:
How has SRECTRade worked out for you?
Hi Rob,
It's worked out really well. I don't have any unseen commitment to my installer and SREC broker and I am free to criticize but I just haven't had any problems.
SRECTrade does everything. There was a bunch of paperwork to fill out during registration but after that I haven't lifted a finger. Really, the only time I have interaction with them is when they announce that SRECs have been sold. Too bad, because they're good people.
Honestly, I don't really understand the process fully although Brad of SRECTrade explained it once (and I posted that). Nobody ever comes to the house to read the converters and I don't have any type of 'smart' electric meter that transmits any information.
But the proof is in the pudding. I hardly have to do a thing and the SRECs sell at a high price. Can't beat that in my opinion.
what do you know about srecs from PA, or other states?
They have other states listed too. I'm in PA and they automatically did the paperword to cross list my system and sold into Ohio because the prices were higher there.
From your post, you are located in New Jersey. I have just received a proposal from my 'installer/broker' for a commission that is far greater than what you seem to be paying.
I have 3 questions: Are you receiving current (2010) market value for your SRECS?
2.) How often are you making your SRECs available to the market? Monthly? quarterly?
3.) Regarding the paperwork - did you have all the information required readily available to you or did you have to dig for it?
Thanks!
Hi Jim,
I answered your question in a new post dated June 2, 2010. Thanks!
You should also check the Flett exchange. I used them to sell my first 4 Ohio SRECs. The prices I got were 10-20% higher than the monthly auction prices posted on SRECTrade.
I also did better on Flett Exchnage than I did on SREC Trade. And there it's actually real time selling and buying.
There is another market like site called srec marketplace. They also sell/buy daily (not just monthly like srectrade) and the prices are posted on the site - similar to stock trading. Their NJ prices have risen dramatically this month with the Christie energy plan.
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