SOLAR AI FAQS – SELL RECS WITH US
Frequently Asked Questions
Renewable Energy Certificates (RECs)
RECs are tradable assets that quantify the energy generated by renewable energy sources like solar panels. Acquiring a REC is not the same as buying electricity. Instead, it represents purchasing the clean energy attributes of renewable electricity. A similar comparison would be carbon credits.
1 REC is produced when a renewable energy source generates 1 megawatt-hour (MWh) of electricity, and represents 1 MWh of clean energy generated.
RECs can be sold. They are purchased by companies as a form of carbon credit to offset their carbon emissions and meet their sustainability targets. The price of RECs fluctuate significantly based on demand and supply, and in Singapore the price of 1 REC can range between SGD 10 to 30.
Large companies (typically Fortune 500 or RE100) purchase RECs in order to offset the carbon emissions generated through their electricity consumption from the grid (often from fossil fuel sources), in order to meet their net-zero commitments.
RECs are still a relatively new asset class, and are currently purchased by MNCs or large corporations to achieve their net zero targets in their country of operations. Prices in the market are determined by demand and supply, based on the number of buyers and the volume of RECs they wish to purchase at any point in time, compared to the supply of RECs generated from renewable energy sources available.
No. RECs are generated based on the amount of renewable energy generated from your solar panels and issued by international registries like the I-REC Standard or TIGR by APX. This does not differ based on your electricity retailer.
Sell RECs with Solar AI
The sale of RECs is a tiresome and tedious process that can take hours. There are also many charges and transaction costs involved in the procedure.
The Solar AI RPP is designed to help solar system owners in Singapore make more money from their systems, hassle-free. The Solar AI RPP allows you to enjoy a fret-free REC sale process with a regular flow of profit from your solar panel system. We will handle the registration, acquisition and sale of your RECs on your behalf while you can just sit back and enjoy the extra income on your solar installation.
Selling RECs on your own is definitely possible. That said, the manual process of acquiring and selling RECs in Singapore can be a time consuming and troublesome process. Charges and transaction fees can also make it not cost-effective to acquire and sell RECs, especially for smaller solar setups.
The Solar AI RPP helps to simplify the entire REC process by handling any paperwork and absorbing all associated costs, paying you a fixed amount for your RECs.
The amount you will be paid is determined by the number of RECs or total MWh of green electricity generation from your solar system on a periodic basis. Your green electricity generation figures will be obtained from your solar inverter online remotely and automatically. You will not have to send any bills or documents to us.
Solar AI earns by taking a portion of net profits from the sale of your RECs.
Through the RECs Purchase Program, we bear the risks of REC price fluctuations and attempt to sell them at the best market rates for the greatest net profit. By bundling the sale of RECs across multiple properties in Singapore, we are able to reduce associated costs involved in the REC sale process.
Simply write in to us at recs@getsolar.ai or contact one of our solar advisors to begin. We will request for a few details and registration documents on your solar system from you or through your solar installer. Thereafter, simply provide us with your authorization to manage and sell the RECs on your behalf, and leave the rest to us.
The program has no lock-in and you can terminate your agreement at any time if you wish to do so. To terminate your agreement, please write in to us at recs@getsolar.ai.
Payouts & Bonuses
Your pay-outs will be done via bank transfer and will usually take 3 to 5 business days to complete. The annual payment date will be stipulated on your agreement and a payment notice will be sent via email to you once the transaction has been made. If you did not receive a payment notice, do not hesitate to contact us.
Want to do good with that extra income? Rather than receiving cash pay-outs, you can choose to donate the money from your REC sales to selected local charities or environmental Non-Profit Organisations (NPOs). We will donate the money earned from REC sales on your behalf and email you the proof of donation. You will also be eligible for tax deductions on donations made to local charities.
Technical
Your green electricity generation figures will be obtained from your solar inverter online remotely and automatically. You will not have to send any bills or documents to us.
If you decide to increase the size of your solar panel system, please contact us as soon as possible with the updated details of your new solar setup. A larger solar setup can mean an increase in payout amount.
