MDV-SEIA is proud to announce that SRECTrade has come onboard as the Opening Breakfast sponsor for Solar Focus 2017! Our partners at SRECTrade do amazing work ensuring solar owners make the most out of surplus energy generated by their systems, a service that makes SRECTrade a valued addition to this year’s sponsorship line-up.
SRECTrade, Inc. focuses on three core areas within the Solar Renewable Energy Certificate (SREC) markets:
SRECTrade is one of the largest SREC transaction and management firms in the industry, with over 320 MWs of solar assets under management. The company facilitates the brokerage of spot and forward contract SREC transactions in the over-the-counter markets.
SRECTrade’s clients cover all market participants including competitive electricity suppliers, utilities, project developers, PPA providers, leasing companies, installation firms, and individual commercial and residential system owners.
The software developed by SRECTrade is used by solar owners to track their SREC generation and issuance, manage and execute transactions, and enroll facilities with state regulators.
Since 2008, SRECTrade has been one of the leading sources for information regarding SREC price trends and legislative updates, bringing a wealth of knowledge and transparency to some of the fastest growing state markets in the solar industry.
SRECTrade was founded in 2007 and is based in San Francisco, CA.
What markets do you operate in?
SRECTrade, Inc. services asset owners in 17 east coast and Midwest states, primarily Massachusetts, New Jersey, Maryland, Pennsylvania, Ohio, Washington DC, Delaware, and Illinois.
Tell us a little more about your company, including how many MWs/GWs of solar is in your portfolio.
SRECTrade, Inc. currently provides asset management and transaction services to over 320 MWs of solar assets. The company was founded a decade ago, seeking to provide price transparency to the then-emerging SREC market in New Jersey. Over the years, we have expanded our service offering to provide full transaction and management services to all other SREC markets.
What opportunities and challenges do you predict solar development will face on the East Coast in the next year?
The current federal administration could pose a challenge should it look to derail the strong federal investment tax credit level that has been extended through the start of the 2022. Many markets, such as Maryland and New Jersey, are exceeding their renewable energy targets, resulting in suppressed SREC pricing. This naturally poses a challenge to solar developers and project owners. We believe that there are also opportunities for further growth as reevaluation of state Renewable Portfolio Standard (RPS) levels in many markets as well as the increasing efficiency of panels will help make solar an increasingly competitive energy source moving forward.
How does your company plan to be involved in influencing the solar industry over the next few years?
SRECTrade’s core mission is to bring transparency and efficiency to the SREC markets to help system owners of all sizes finance their investments. We are analyzing opportunities to expand our business to evolving SREC markets and REC programs in other states, as well as developing technology solutions to improve market efficiency. Our regulatory team is also focused on encouraging the development of solar policy in SREC states and emerging markets.
Solar jobs are now growing at a rate 17x faster than the overall economy and for the first time in history the solar industry employs more people than coal. Tell us a little about how the rate of solar job growth has impacted your business.
The growth rate of solar has had a positive impact on our business, allowing us to expand our team and enter new markets. The growth of our installer partners has also had a positive impact on our business as our partners are able to install more capacity and designate employees to specialize in SREC registration.
What unique or innovative contributions has your company made to solar?
The online platform, technology solutions, and market research that we have developed for our clients and partners has brought efficiency and transparency to the markets we service. These tools have allowed our clients to reduce operational costs and gain access to the market.
Which policies, incentives (tax credits), or regulatory changes have had the most impact on your business and what is missing that your company could benefit from?
The policies that impact our business most directly are Renewable Portfolio Standards (RPS). Regular updates to state RPS programs help ensure that appropriate solar and SREC incentive levels are maintained so that capacity development can continue. States that have ineffective or outdated RPS standards have a negative impact on our business due to a lack of appropriate incentive levels.