Beginning this month, June 2023, Sol Methods’ SREC prospects in PJM-GATS markets are eligible for month-to-month funds! We’re excited to increase our service to incorporate month-to-month funds for our prospects and installer companions.
How does a system qualify for month-to-month funds?
So as to obtain month-to-month funds, prospects should join direct deposit by means of the Sol Methods Buyer Dashboard. Prospects who don’t join direct deposit will obtain one examine a 12 months in November.
Month-to-month funds can be found to prospects with lively Sol Annuity, Sol Brokerage, or Sol Revenue Share agreements. Sol Upfront funds will proceed to be paid inside 15 enterprise days after Sol Methods receives full system approval from PJM-GATS or NEPOOL. For Sol Brokerage prospects, a generated SREC should nonetheless be offered on the spot market by Sol Methods to obtain cost.
Massachusetts prospects who’re signed up for direct deposit will proceed to obtain quarterly funds on account of NEPOOL’s quarterly SREC minting schedule.
What’s the new month-to-month funds schedule?
Month-to-month funds can be processed by the final enterprise day of every month. As with all digital funds, it might take just a few days for the cost to succeed in a buyer’s checking account relying on the financial institution. Prospects could view their cost assertion at any time by logging into their Sol Methods Dashboard.
The next schedule outlines the SREC technology month that coincides with the SREC cost month. Due to this fact, for the June 2023 cost cycle, SRECs generated in or earlier than April 2023 can be eligible for cost.
What occurs if a system doesn’t generate an SREC every month?
If a system doesn’t generate an SREC throughout a given technology month, a cost won’t be offered in the course of the related SREC cost month. For instance, if a system with a Sol Annuity contract generates one SREC in January and one SREC in Might, then the client will obtain a cost for one SREC in March and a cost for one SREC in July.
Why has Sol Methods switched to providing month-to-month funds?
Sol Methods has obtained suggestions from our SREC prospects and installer companions that extra frequent funds are most well-liked. We all know that SREC income generally is a important monetary part of the choice to go photo voltaic, and we’re happy to supply our prospects and companions with extra frequent SREC cost choices. Moreover, to scale back using paper to print checks, we encourage all prospects to enroll in direct deposit.
For questions relating to month-to-month funds, please electronic mail data@solsystems.com.