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NJ solar renewable energy credit prices advance to close of August

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NJ solar renewable energy credit prices advance to close of August

Prices for solar renewable energy credits in New Jersey advanced during the week ended Aug. 30.

Garden State energy-year 2018 SRECs posted an index at $224.58/MWh, rising $1.66 week over week. New Jersey 2019 SRECs ran at an average of $218.67/MWh, up 67 cents from prior assessments.

Increased demand worked to lift New Jersey SREC values at month's end even as solar supply remained plentiful. At the end of July, New Jersey's installed solar capacity stood at 2,568 MW, up 30 MW on the month, according to the New Jersey Office of Clean Energy.

New Jersey Class I markets continued to ease during the week ended Aug. 30 against a backdrop of ample supply and thin demand. Garden State vintage 2018 Class I RECs came in at an index of $6.18/MWh, down 28 cents week over week. New Jersey vintage 2019 RECs notched an average at $6.43/MWh, losing 35 cents from the week prior.

Moving in line with prices in New Jersey, the nearby Maryland and Pennsylvania markets saw Tier I REC prices falter.

In Pennsylvania, vintage 2018 Tier I RECs were assessed at $6.26/MWh, decreasing 31 cents, while vintage 2019 Tier I RECs were pegged at $6.46/MWh, declining 29 cents week over week.

Similarly, Tier I REC values stumbled in Maryland as well during the final week of August. Vintage 2018 Tier I RECs posted an average at $6.08/MWh, losing 30 cents, as Maryland vintage 2019 Tier I RECs notched an index at $6.42/MWh, dropping 26 cents from the week prior.

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