You are not required to sell your SRECs or participate with Carbon Solutions if you decide to sell, but depending on your system size and the contract option that you choose, you may qualify for an upfront payment of $500-$2500 or annual payments.
REC Delivery
All systems must be registered in either the PJM-GATS or M-RETS tracking registry. For systems larger than 5 kW, the first REC must be delivered within 90 days of the date the system is Energized/Part II verified.
For systems equal to or less than 5 kW, the first REC must be delivered within 180 days of the date the system is Energized/Part II verified.
The delivery term will begin on the first day of the month following the first REC delivery and will last 180 months (for projects under the 2019 REC Delivery Contract and the 2021 and 2022 15-Year REC Delivery Contracts) and 240 months (for projects under the 2021 and 2022 20-Year REC Delivery Contracts).
Any RECs that were created prior to contract signing are not part of the contract and will not be transferred to the utility under the contract or purchased by the utility under the contract.
If you do agree to a contract, then you would be agreeing to:
- Maintain your system and its reporting capabilities.
- Fulfill your contract delivery schedule.
- Provide meter readings from your array on a consistent basis for the term of your contract. Online monitoring may satisfy this.
- Notify CSG if you are moving or transferring your contract and sign a transfer agreement.
- Participate in performance checks if your system underproduces.
What is a Performance Evaluation?
If your system underperforms during any year in the 15 year period and fails to generate the RECs projected for that year, the utility may “clawback” REC payments. This means that you may have to pay the utility back for some RECS that were not generated. The projected delivery schedule will be included in your REC contract and updated once the IPA has confirmed your systems participation and delivery schedule.
A performance call is a notification by CSG letting you know that your solar system has underperformed and a utility clawback is due. A performance evaluation is done on an annual basis to assess your three-year rolling REC generation.
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