Heading to Solar Power International (SPI) 2017 this year? Come visit the SRECTrade team! SRECTrade’s CEO, Steven Eisenberg, and CTO, Lewis Wagner, were selected to present at this year’s poster reception. The reception will be held on Monday, September 11, 2017 from 5-6 p.m. on the trade show floor.
Steven and Lewis will be presenting a poster entitled “Scaling Up Solar Incentive Markets: Standards to Unlock Innovation, Investment and Value”. The poster addresses the following:
Two technology factors with large influence on the REC market are providing open and equitable access to underlying registries and the development of software solutions that institutionalize portfolio management. SRECTrade has campaigned to open the underlying REC registries, resulting in the development of the first Application Programming Interface (API) for NEPOOL GIS and an improved API for PJM GATS. Open access to the underlying REC platforms is fundamental to the growth of renewable energy adoption. In 2017, the SREC market in PJM and MA is estimated to exceed $2b in transactions, exposing organizations to potential costly risks and operational mistakes.
Most registries do not have APIs and those that do are limited. Decision makers are resistant to change, but the benefits are clear. Open access places the cost of innovation on the market and reduces the dependency on central authorities.
To reduce portfolio management costs and mitigate risk, the ability for organizations to either buy or build software is critical. The absence of APIs prevents organizations from building or procuring services. We seek to solve this by advocating for APIs and providing comprehensive management services.
A lack of standards and access to underlying data fuels complexity and ultimately increases risk and the cost of doing business. To reduce soft costs and the burden to REC portfolio managers, the industry needs to drive towards free and open data communication. Achieving this will unlock innovation, investment and value across the market.