SRECTrade Opens New Jersey Solar Renewable Energy Credit Auction
SRECTrade.com is a new auction service that allows homeowners and small businesses with solar installations in New Jersey to sell the Solar Renewable Energy Credits these systems generate.
Stanford, California (PRWEB) August 14, 2008 -- SRECTrade.com has opened its first monthly online auction for New Jersey Solar Renewable Energy Credits (SRECs). This auction will provide the first efficient and transparent marketplace for buying and selling SRECs.
It will allow homeowners and businesses with solar systems in New Jersey to realize the full value of their SRECs, as well as provide a convenient and central site for buyers to obtain both large and small lots of SRECs in a single transaction. The auction not only facilitates routine SREC trades, but it also provides a publicly available market price that will help those planning to install solar systems in New Jersey calculate the return on their investment. The auction is an important step in establishing a transparent marketplace for SRECs, helping New Jersey reach its Renewable Portfolio Standard target of 1,700 MW of installed solar capacity by 2021.
SRECTrade.com is a subsidiary of InClime, LLC. The company was founded in 2007 by five cleantech-focused graduate students at Stanford University as part of a class on entrepreneurship. The company focused on solar technology applications and was immediately drawn to the inefficient SREC trading market in New Jersey. SRECTrade.com was the solution, designed in consultation with leading experts in auctions and solar renewable energy credit markets.
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