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NJ solar renewable energy credit prices continue mixed ways

Editor's Note: Please be advised that S&P Global Market Intelligence will no longer publish weekly articles on price trends in the U.S. emissions markets beginning June 1, 2018. RECs pricing data will continue to be available on the Market Intelligence platform and can be found here.

Solar renewable energy credit prices in New Jersey continued to run mixed during the week ended May 18.

Garden State energy year 2018 SRECs were priced at $242.00/MWh, up 83 cents from the week prior, with energy year 2019 SRECs coming in at an index of $237.67/MWh, down more than $2 week over week.

In other New Jersey solar news, on June 7, New Jersey's electric distribution companies will offer for sale between 42,000 and 62,000 2018 SRECs created between June 1, 2017, and May 31, 2018.

Over the course of the week, New Jersey class I REC prices extended higher on increased buying interest. Vintage 2018 class I RECs saw an average at $7.13/MWh, rising 58 cents. New Jersey vintage 2019 class I RECs were priced at an index at $7.71/MWh during the week ended May 18, up 83 cents from the week before.

In the nearby Maryland market, tier I REC prices shifted higher during the week as well. Maryland vintage 2018 tier I RECs posted an average at $6.83/MWh, up 55 cents, while the vintage 2019 tier I market was pegged at $7.29/MWh, gaining more than 30 cents on the week.

After taking a pause last week, Maryland solar markets continued to drop in value during the period under review amid lackluster buy-side interest. Maryland calendar year 2018 SRECs were seen at an average of $13.33/MWh, sinking $1.50 on the week. Maryland calendar year 2019 SRECs were down 8 cents to an index of $16.67/MWh.

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