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Minimum Payment Policy

Sol Systems is announcing a change to our Minimum Payment Policy (the "Policy") pursuant to the Solar Renewable Energy Credit agreement/terms and conditions (the "SREC Contract") between Sol Systems, LLC ("Sol Systems" or "we") and you, as Customer. We are implementing this change in light of evolving market conditions. Any capitalized term used but not defined herein shall have the meaning given to such term in the SREC Contract. The reason for this update in our Policy is that Sol Systems incurs substantial internal operational and overhead costs in administering payments to customers under its SREC Contracts. We have also found that our customers often are not incentivized to deposit payment checks from us when those checks are for only minimal amounts. Therefore, to mitigate and minimize the costs to Sol Systems associated with payments under its SREC Contracts and to provide for greater convenience to our customers, we are announcing this updated Policy change effective with our June 2023 payments cycle. Under this updated Policy, in order for an SREC payment to be issued under the SREC Contract, the value of the total SREC payment due to Customer thereunder must accrue (1) at a minimum payment of $15 owed to Customer for ACH direct deposit (after accounting for any applicable Transaction Service Charges) or (2) at a minimum payment of $25 owed to Customer for any check payment (after accounting for any applicable Transaction Service Charges). If the total payment due to Customer for SRECs under the SREC Contract is less than this minimum amount, then the payment will be held by Sol Systems and rolled over into the following payment cycle (monthly for ACH direct deposits and annually every November for check payments), until the total amount of accrued payments that would be owed to Customer is equal to at least the amount of $15 for ACH direct deposits and $25 for check payments, as applicable. Sol Systems strongly encourages any Customer receiving a check payment to enroll in direct deposit. Please note that holding the SREC payment amount until it accrues to the minimum payment level will not change the total net payment amount that you receive per SREC under the existing payment terms of the SREC Contract. This revised Policy aims to reduce administrative and customer burdens by reducing the number of payments received by Customer for only minimal amounts. Except as modified by this Minimum Payment Policy, all terms and conditions of the SREC Contract remain in full force and effect.