Sol Systems Reduces Costs of Going Solar in Massachusetts with Upfront SREC Financing and 0% Brokerage for SRECs
WASHINGTON, Jan. 12, 2011 /PRNewswire/ -- Sol Systems, the nation's largest solar renewable energy credit (SREC) aggregator, is offering a new SREC option, "Sol Upfront," for solar energy system owners in Massachusetts, and will waive commercial project brokerage fees for its spot market option "Sol Brokerage."
The upfront payment option allows homeowners and businesses who install solar energy systems to pre-sell 10 years of SRECs in exchange for a lump-sum payment, while the brokerage option allows commercial-sized system owners to seek the highest spot prices for their SRECs with no fees. Both options will improve the economics of going solar for Massachusetts solar project owners.
"Because the Massachusetts' SREC market is new, and there is an element of risk compared to some other well-established SREC markets, we have created ways for our customers to address this risk in the way that best fits their financial profile," said Sol Systems CEO, Yuri Horwitz. "Our Sol Brokerage option allows customers to take advantage of the risk with the highest spot prices available, while our Sol Upfront option removes SREC market risk and regulatory risk entirely."
Sol Systems also offers 3 and 5 year fixed price "Sol Annuity" contracts to Massachusetts customers. Under the annuity arrangement, customers receive a fixed price for each SREC generated over the agreement term and are paid quarterly. The 5 year term pays $275/SREC and the 3 year term pays a guaranteed rate of $400/SREC. Both are backed by long-term utility contracts.
Sol Annuity, Sol Upfront, and Sol Brokerage are available to residential and commercial system owners. However, the Sol Brokerage fees will only be waived for systems that are larger than 20 kilowatts in size.
About Sol Systems
Sol Systems is a solar energy finance firm. With thousands of customers and hundreds of partners across 13 states, Sol Systems is the largest and oldest SREC aggregator. We provide homeowners, businesses, solar installers, and developers with sophisticated financing solutions that help make solar energy more affordable. Sol Systems also helps energy suppliers and utilities manage and meet their solar RPS requirements efficiently by providing them with access to diverse portfolios of SRECs. For more information, please visit www.solsystemscompany.com.
Director of Strategic Partnerships
SOURCE Sol Systems