Payments on a 15-year REC Delivery Contract are as follows:
First Payment Example
This payment is for your 62.5kW AC project: Big Farms Inc
Your payment for $7,659.38 will be sent by Friday, September 23rd, and should be expected to arrive between September 27th and 29th. If you do not receive your payment by October 7th, please reach out so that we can cancel the check, confirm our information, and reissue the payment.
Note: Once your check has been mailed you will receive an email from email@example.com indicating your application status has been moved to "Step 16". No action needs to be taken by you at that time, it is simply an update.
Payment Address and Method
|Address||6001 Bird Rd.|
|City, State, Zip||Farmer City, IL 61842|
Subsequent Payments - 16 Payments of 5% each, paid on a quarterly basis
|5% of Contract Value||$3,865.26|
More information on your payment including fees, collateral, and what to expect moving forward is below:
Total Contract Value Table
|Contracted SRECs||SREC Price||Total Contract Value|
First Payment Table - 15% of contract value minus CSG Fee and Collateral
|Total Contract Value||1,413 x $54.71||$77,305.25|
|First Payment before Fees||15% of Contract Value|
|CSG Fee Percentage, Amount||8.00%||$6,184.42|
|Additional collateral Percentage | Amount||2.50%|
|Additional fee description | Amount|
|5% Utility Held Collateral | Amount||5% of Contract Value||$3,865.26|
|*Your Payment||Payment less fees and collateral||$7,659.38|
*Note - to calculate your payment, take the “First Payment before Fees” on the 2nd line above, and subtract collateral and fees from the subsequent four rows, and add collateral paid upfront, if any, provided in row 7 (5% Collateral Paid Upfront | Amount).
Subsequent Payment Schedule
|Quarterly Payment Schedule for payments 2 through 17|