Archive for April, 2010

Wall Street Journal mention of SRECTrade

Posted April 22nd, 2010 by SRECTrade.

One of SRECTrade’s customers was the subject in a recent article in the Wall Street Journal titled Businesses Wait for Green Energy Payback.  The article describes the opportunities available for small businesses looking to go green and some of the headaches involved in the process.  There is no doubt that the federal, state and local incentives combined make solar an especially attractive investment in New Jersey.  Despite this, solar is not growing at the pace that it should be in New Jersey and other states.  Part of the reason is due to financing challenges to cover the gap between investment and payback.  Although there are some banks that have been willing to take the time to understand the SREC markets, many have simply not wanted to venture into the unknown.  As a result many business owners looking for financing have struggled to get it.  In the example in the article, our client found an angel investor willing to put down the capital for the investment. In a few short years, both our client and his investor will have made a significant return on investment from the sale of the SRECs.  Since the value of SRECs are driven by market fundamentals, as long as would-be solar owners continue to struggle to get financing, the market will be under-supplied and SREC values will subsequently remain high, ensuring that those willing to invest today see the same returns that are quoted in the article.

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Texas SREC market may develop in 2011

Posted April 7th, 2010 by SRECTrade.

The current Texas REC market is a generic renewable energy market meaning that there is no difference between wind, solar and any other type of REC.  However, the state is currently considering breaking RECs up into three categories: solar, wind and other.  The program is run by the Texas ISO, ERCOT. Currently the ACP in Texas is $50 a REC and there is a large oversupply of RECs in the market – so values are significantly depressed.  However, RECs are good for 3 years so they may be sold in the future.

A Pending Texas SREC Market
If the proposed rule changes are accepted by the Texas Public Utilities Commission, the SREC market in Texas will begin in January 2011.  As of this post, the projected target for solar will be 50 MW with an ACP of $100.  As the rules are finalized, both the target and the ACP may be increased.

Interstate REC Trading
Texas will only count in-state RECs for the Texas renewable portfolio standard, however if you want to apply your RECs to other state compliance requirements, you must retire them in the ERCOT system and note what state or program they are being retired in – assuming that the administrator of the program will accept your RECs from ERCOT.  The tracking technology ERCOT developed with APX is similar to that now used by other platforms.

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Brad Bowery to speak at ASES National Solar Conference

Posted April 1st, 2010 by SRECTrade.

SRECTrade CEO Brad Bowery will be speaking at the 39th ASES National Solar Conference May 17-22 in Phoenix, AZ. The National Solar Conference hosted by the American Solar Energy Society (ASES) is America’s longest-running and leading conference on the emerging trends, technology, and opportunities shaping the new energy economy. Featured keynote speakers include Earth Day Founder Denis Hayes, Executive Director of the Bullitt Foundation, Amory Lovins of the Rocky Mountain Institute and Catherine Zoi of the U.S. Department of Energy.

ASES

Wednesday, May 19
4:00 to 5:30pm
Solar Renewable Energy Certificate Markets: Status and Emerging Issues
Moderated by: Lori Bird, NREL
This session will explore the status of solar renewable energy certificate (SREC) markets in the U.S. and emerging issues. It will cover the status of both compliance markets for SRECs that have emerged as a result of solar set asides in state renewable energy standards as well as voluntary markets for SRECs. This session will cover issues such as the integration of a potential federal solar REC market into existing markets, best practices in tracking and verifying SRECs for RPS compliance, as well as SREC trading and aggregation.
Presentations Include:
Industry Perspective on U.S. SREC Markets
Fred Zalcman, SunEdison
NJ SREC Program Status
Mike Winka, NJ BPU
Status of Solar Energy Set Asides in State RPS Programs
Charlie Kubert, Clean Energy Group
Verification and Tracking of RECs: Issues and Challenges
Steve Wiese, Clean Energy Associates
Trading in the SREC Markets
Brad Bowery, SRECTrade

As CEO of InClime, LLC, Brad Bowery has taken SRECTrade from a website and a concept to one of the most influential businesses in the growing SREC market. He successfully established the online auction in New Jersey, Pennsylvania, Maryland, Delaware and DC, and has laid the groundwork for implementations in Ohio, Massachusetts and North Carolina. Brad also developed and implemented SRECTrade’s installer program, establishing relationships with installers and project developers throughout the region and creating the foundation for the firm’s growth. In his role, he is in regular contact with stakeholders in the various state SREC programs, is heavily involved in the day-to-day developments of the market, and oversees one of the most comprehensive blogs on the SREC markets

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in Phoenix, AZ