Selling SRECs in NJ

February 7, 2024 11:46 AM

Do you have experience with selling your SREC's from your NJ solar system? I'm currently selling SRECs from my NJ home's system via SRECTrade.com and am just noticing that there's a 10% transaction fee with each sale. I'd like to see if I can get a better deal (better price, lower fees.)

I had a solar panel system installed on my roof back in 2011 via a convoluted program that involved Home Depot, PSE&G, a Solar contractor, and a number of (now defunct) other subcontractors.

While I never fully grasped the deal... I do know the system was financed through a PSE&G Solar Loan program where about 90% of the total cost was paid via SRECs. Sometime in 2020 the system was paid in full, and I contacted something called GATS at something called PGM-IES so that the SRECs would become mine moving forward.

I don't recall how I landed on using SRECTrade to sell the SRECs... but it was most likely the path of least resistance, considering how complicated everything seemed at the time.

I'd like to know: do you have a better deal going? If so, what do I need to do to take advantage of it? Related: Do you have the system checked and/or maintained by someone? Who?

posted by nandaro to Home & Garden (1 answer total)

Best answer: Check out Sol Systems' pricing options. I know someone who has & likes the brokerage account option, though it might not be the better deal for your situation; for systems under 50kW, SRECTrade collects a 10% fee [8% management fee + 2% transaction fee] [not to exceed half the value of the SREC]. NJ overview; www.njcleanenergy.com/findavendor --> SREC Brokers, SREC aggregators, Solar Maintenance Providers
posted by Iris Gambol at 4:48 PM on February 7, 2024