SOLAR AI FAQS – SELL RECS WITH US

Frequently Asked Questions

Renewable Energy Certificates (RECs)

What are 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. 1 REC is produced when a renewable energy source generates 1 megawatt-hour (MWh) of electricity.

How do RECs help to monetise my solar panel system?

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 15 to 25.

What causes the price volatility of RECs?

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.

Are RECs different if I am under SP Group compared to other electricity retailers?

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

What is the Solar AI RECs Purchase Program (RPP)?

REC sales 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.

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If I can sell RECs on my own, how does the Solar AI RECs Purchase Program (RPP) change anything?

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.

How much will I be paid for 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.

How does Solar AI make money from this program?

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.

How do I join the Solar AI RECs Purchase Program?

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.

What happens if I decide to terminate the RECs Purchase Program?

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

How will I receive my cash pay-outs and how long will it take?

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.

Are there any other forms of pay-outs besides cash?

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

How will you track my green electricity generation?

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.

What happens if I decide to expand my solar panel system?

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.