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Minimum Payment Policy

Sol Systems has updated its Minimum Payment Policy under the terms of your Solar Renewable Energy Credit (SREC) Contract. This change was made in response to evolving market conditions and applies to SREC payments issued by Sol Systems. All capitalized terms not defined here have the meaning provided in your SREC Contract.

Why did Sol Systems update this policy?

Administering SREC payments involves operational and processing costs, particularly for very small payment amounts. In addition, customers often do not deposit checks issued for minimal values.

This updated policy:

  • Reduces administrative costs

  • Minimizes delays caused by uncashed checks

  • Provides greater convenience for customers

When does the updated policy take effect?

The updated Minimum Payment Policy became effective with the June 2023 payment cycle.

What is the minimum payment amount?

Under the updated policy, SREC payments will be issued only once they reach the following minimum amounts (after any applicable Transaction Service Charges):

  • $15 minimum for ACH direct deposit payments

  • $25 minimum for check payments

What happens if my payment is below the minimum?

If your total SREC payment does not meet the minimum threshold:

  • The payment will be held by Sol Systems

  • The amount will roll over into future payment cycles until the minimum is reached

Payment rollover schedules:

  • Direct deposit: Rolled over monthly

  • Check payments: Rolled over annually and paid during the November payment cycle

Does this change how much I earn per SREC?

No. Holding payments until they reach the minimum amount does not change the total net value you receive per SREC under your existing contract.

All earned payments will still be issued once the minimum threshold is met.

Should I sign up for direct deposit?

Yes. Sol Systems strongly encourages customers receiving check payments to enroll in direct deposit.

Direct deposit:

  • Has a lower minimum payment threshold

  • Results in faster and more frequent payments

  • Helps avoid delays associated with mailed checks

Do other contract terms change?

No. Except for this Minimum Payment Policy update, all other terms and conditions of your SREC Contract remain in full force and effect.