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?
With a view to obtain month-to-month funds, prospects should join direct deposit via the Sol Methods Buyer Dashboard. Prospects who don’t join direct deposit will obtain one verify a yr 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 bought on the spot market by Sol Methods to obtain fee.
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 might be processed by the final enterprise day of every month. As with all digital funds, it might take a number of days for the fee to succeed in a buyer’s checking account relying on the financial institution. Prospects could view their fee assertion at any time by logging into their Sol Methods Dashboard.
The next schedule outlines the SREC era month that coincides with the SREC fee month. Due to this fact, for the June 2023 fee cycle, SRECs generated in or earlier than April 2023 might be eligible for fee.
What occurs if a system doesn’t generate an SREC every month?
If a system doesn’t generate an SREC throughout a given era month, a fee is not going to be supplied in the course of the related SREC fee month. For instance, if a system with a Sol Annuity contract generates one SREC in January and one SREC in Could, then the client will obtain a fee for one SREC in March and a fee 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 essential monetary element of the choice to go photo voltaic, and we’re happy to supply our prospects and companions with extra frequent SREC fee choices. Moreover, to cut back the usage of paper to print checks, we encourage all prospects to enroll in direct deposit.
For questions relating to month-to-month funds, please e-mail data@solsystems.com.
