Currents Platform and SREC Service Agreement

Last Updated Date: December 9, 2024

Introduction

Welcome to Currents Energy, Inc. ("Company," "we," "us," or "our"). This Agreement ("Agreement"), together with any applicable Supplemental Terms, describes the terms and conditions for your use of our website (getcurrents.com), web application (app.getcurrents.com), mobile application(s), and related services (collectively, the "Service"), including the management, monetization, and sale of Renewable Energy Certificates ("RECs" or "SRECs"). By accessing or using the Service, you represent that you have read, understood, and agree to be bound by this Agreement.

What are SRECs?

Renewable Energy Credits (also known as SRECs or AECs) are certificates earned when your solar system generates electricity. One SREC is created ("minted") for every megawatt hour (1,000 kWh) of electricity your system generates, regardless of how much electricity you use or export to the grid.

Scope of Services

Generation Tracking and Minting

  1. We automatically submit your monthly generation data to the grid registry (GATS, NEPOOL, state registries) on the 1st of each month
  2. New SRECs are typically minted within 2-3 weeks of submission
  3. Once minted, we purchase your SRECs within 1-2 business days

Fee Structure and Payment Terms

Pricing and Fees

  1. You receive the current market rate (viewable at https://app.getcurrents.com/srec-prices) minus our fee
  2. Our fee is 5% of the SREC value with a $5 minimum per SREC transaction
  3. For systems greater than 99 kW, please contact hello@getcurrents.com for fee details
  4. Your sale price is locked in at purchase, regardless of future market changes
  5. Once we pay you for an SREC, you no longer have rights to that sold credit

Payment Terms

  1. Payments are processed at the end of each month
  2. A minimum balance of $100 is required for payout
  3. All earnings below $100 roll over to the next month
  4. Payment is made via direct deposit to your designated payment method

Generator Owner's Rights and Consent

  • You maintain full ownership and control of your solar system ("Generator")
  • We only manage the REC registration and sales process
  • Once Currents pays you for RECs, Currents owns all rights to and can monetize, resell, or otherwise utilize the RECs without restriction
  • You may cancel this agreement with 30 days' written notice
  • Cancellation requires notification to both Currents and the applicable tracking system

Automatic Renewal

If you subscribe to any feature of the Service, your subscription will renew automatically unless canceled in accordance with the terms described in this Agreement. Cancellation requests should be made through the "Account Settings" section in your user dashboard or by contacting us at hello@getcurrents.com.

Use of Service

The Service is intended for individuals of legal age capable of entering into binding agreements. By using the Service, you agree to:

  1. Only use the Service for lawful purposes.
  2. Comply with all applicable laws and regulations.
  3. Refrain from unauthorized commercial exploitation of the Service.

The Service and its content are protected by copyright laws throughout the world. The Company grants you a limited, non-transferable, revocable license to access and use the Service for your personal, non-commercial use, subject to your compliance with this Agreement.

Application License

Subject to your compliance with this Agreement, the Company grants you a limited, non-exclusive, non-transferable, non-sublicensable, revocable license to access and use the web application on a device that you own or control. This license permits you to use the application solely for your personal purposes. Furthermore, you may use the application only as permitted by the terms and conditions set forth by the respective platform.

Updates to Service

You acknowledge that the Service is evolving, and updates to the Service may be required. The Company may update the Service with or without notifying you, and such updates will be subject to this Agreement.

Company Communications

Generally. By entering into this Agreement or using the Service, you agree to receive communications from us, including via e-mail, text message, calls, and/or push notifications. You agree that texts, calls or prerecorded messages may be generated by automatic telephone dialing systems. Communications from us and our affiliated companies may include, but are not limited to: operational communications concerning your Account or the use of the Service, updates concerning new and existing features on the Service, communications concerning promotions ran by us or our third-party partners, and news concerning the Company and industry developments.

Text Messages. The Company mobile messages service (the “Message Service”) allows users to receive SMS/MMS mobile messages by opting-in. Regardless of the opt-in method you use to enroll, you agree that your use of the Message Service is governed by this Agreement. We do not charge for the Message Service, but you are responsible for all charges and fees associated with text messaging imposed by your wireless provider. Message and data rates may apply. By enrolling in the Message Service, you authorize us to send recurring SMS and MMS mobile messages to the telephone number you specify, and you represent that you are authorized to receive mobile messages at such number. The messages sent through the Message Service may include transaction notifications, web application updates, marketing messages, affiliate messages and may be transmitted using an automatic telephone dialing system (“ATDS”) or other automated systems for the selection or dialing of telephone numbers. Your consent to receive mobile messages via an ATDS or other automated system is not required (directly or indirectly) as a condition of purchasing any property, goods or services. Message frequency varies. Text the keyword ‘STOP’ in response to any message you receive through the Message Service to unsubscribe at any time. When you opt-out, you agree we may send you an opt-out confirmation message. For Message Service support or assistance, text ‘HELP’ in response to any message you receive through the Message Service or email us at hello@getcurrents.com. We may change any short code or telephone number we use to operate the Message Service at any time with notice to you. You acknowledge that any messages, including any ‘STOP’ or ‘HELP’ requests, you send to a short code or telephone number we have changed may not be received and we will not be responsible for honoring requests made in such messages. We and the wireless carriers supported by the Message Service are not liable for any failed, delayed or undelivered messages. If you change your mobile phone number, you agree to opt-out of the Message Service first.

Registration

Registering Your Account. In order to access certain features of the Service you may be required to register an account on the Service (“Account”), have a valid account on the social networking service (“SNS”) through which you have connect to the Service, as permitted by the Service (each such account, a “Third-Party Account”), or have an account with the app store from which you downloaded the Application.

Access Through a SNS. If you access the Service through a SNS as part of the functionality of the Service, you may link your Account with Third-Party Accounts by allowing Company to access your Third-Party Account, as is permitted under the applicable terms and conditions that govern your use of each Third-Party Account. You represent that you are entitled to disclose your Third-Party Account login information to Company and/or grant Company access to your Third-Party Account (including, but not limited to, for use for the purposes described herein) without breach by you of any of the terms and conditions that govern your use of the applicable Third-Party Account and without obligating Company to pay any fees or making Company subject to any usage limitations imposed by such third-party service providers. By granting Company access to any Third-Party Accounts, you understand that Company may access, make available and store (if applicable) any information, data, text, software, music, sound, photographs, graphics, video, messages, tags and/or other materials that you have provided to and stored in your Third-Party Account (“SNS Content”) so that it is available on and through the Service via your Account. Unless otherwise specified in this Agreement, all SNS Content shall be considered to be Your Content (as defined in Section 3.1 (Types of Content)) for all purposes of this Agreement. Depending on the Third-Party Accounts you choose and subject to the privacy settings that you have set in such Third-Party Accounts, personally identifiable information that you post to your Third-Party Accounts may be available on and through your Account on the Service. If a Third-Party Account or associated service becomes unavailable, or Company’s access to such Third-Party Account is terminated by the third-party service provider, then SNS Content will no longer be available on and through the Service. You have the ability to disable the connection between your Account and your Third-Party Accounts at any time by accessing the “Settings” section of the Service. YOUR RELATIONSHIP WITH THE THIRD-PARTY SERVICE PROVIDERS ASSOCIATED WITH YOUR THIRD-PARTY ACCOUNTS IS GOVERNED SOLELY BY YOUR AGREEMENT(S) WITH SUCH THIRD-PARTY SERVICE PROVIDERS, AND COMPANY DISCLAIMS ANY LIABILITY FOR PERSONALLY IDENTIFIABLE INFORMATION THAT MAY BE PROVIDED TO IT BY SUCH THIRD-PARTY SERVICE PROVIDERS IN VIOLATION OF THE PRIVACY SETTINGS THAT YOU HAVE SET IN SUCH THIRD-PARTY ACCOUNTS. Company makes no effort to review any SNS Content for any purpose, including but not limited to, for accuracy, legality or noninfringement, and Company is not responsible for any SNS Content.

Registration Data. In registering an account on the Service, you agree to (a) provide true, accurate, current, and complete information about yourself as prompted by the registration form (the “Registration Data”), and (b) maintain and promptly update the Registration Data to keep it true, accurate, current, and complete. You may not share your Account or password with anyone, and you agree to notify Company immediately of any unauthorized use of your password or any other breach of security. If you provide any information that is untrue, inaccurate, not current or incomplete, or Company has reasonable grounds to suspect that any information you provide is untrue, inaccurate, not current or incomplete, Company has the right to suspend or terminate your Account and refuse any and all current or future use of the Service (or any portion thereof). You agree not to create an Account using a false identity or information, or on behalf of someone other than yourself. You agree that you shall not have more than one Account per platform or SNS at any given time. Company reserves the right to remove or reclaim any usernames at any time and for any reason, including but not limited to, claims by a third party that a username violates the third party’s rights. You agree not to create an Account or use the Service if you have been previously removed by Company, or if you have been previously banned from any of the Service.

Your Account. Notwithstanding anything to the contrary herein, you acknowledge and agree that you shall have no ownership or other property interest in your Account, and you further acknowledge and agree that all rights in and to your Account are and shall forever be owned by and inure to the benefit of Company. Furthermore, you are responsible for all activities that occur under your Account. You agree that you shall monitor your Account to restrict use by minors, and you will accept full responsibility for any unauthorized use of the Service by minors. You are responsible for any use of your credit card or other payment instrument (e.g., Stripe, PayPal) by minors.

Necessary Equipment and Software. You must provide all equipment and software necessary to connect to the Service, including but not limited to, a mobile device that is suitable to connect with and use the Service, in cases where the Service offer a mobile component. You are solely responsible for any fees, including Internet connection or mobile fees, that you incur when accessing the Service.

Responsibility for Content

Types of Content. You acknowledge that any information, data, text, software, music, sound, photographs, graphics, video, messages, tags and/or other materials accessible through the Service (collectively, “Content”), is the sole responsibility of the party from whom such Content originated. This means that you, and not Company, are entirely responsible for all Content that you upload, post, e-mail, transmit or otherwise make available (“Make Available”) through the Service, including the SNS Content (“Your Content”), and that other users of the Service, and not Company, are similarly responsible for all Content that they Make Available through the Service (“User Content”). [Your Content in your profile may not contain nudity, violence, sexually explicit, or offensive subject matter as determined by Company in its sole discretion.] You may not post or submit for print services a photograph of another person without that person’s permission.

Storage. Unless expressly agreed to by Company in writing elsewhere, Company has no obligation to store any of Your Content. Company has no responsibility or liability for the deletion or accuracy of any Content, including Your Content; the failure to store, transmit, or receive transmission of Content; or the security, privacy, storage, or transmission of other communications originating with or involving use of the Service. Certain features and functionality of the Service may enable you to specify the level at which the Service restricts access to Your Content. In such cases, you are solely responsible for applying the appropriate level of access to Your Content. If you do not choose, the system may default to its most permissive setting. [You agree that Company retains the right to create reasonable limits on Company’s use and storage of Content, including Your Content, such as limits on file size, storage space, processing capacity, and similar limits described on the Service and as otherwise determined by Company in its sole discretion.] 

Ownership

The Service. Except with respect to Your Content and User Content, you agree that Company and its suppliers or licensors own all rights, title and interest in the Service (including but not limited to, any computer code, themes, objects, characters, character names, stories, dialogue, concepts, artwork, animations, sounds, musical compositions, audiovisual effects, methods of operation, moral rights, documentation, and Company software). You will not remove, alter or obscure any copyright, trademark, service mark or other proprietary rights notices incorporated in or accompanying any the Service.

Trademarks. Currents and all related graphics, logos, service marks and trade names used on or with the Service are the trademarks of Company and may not be used without permission in connection with your, or any third-party, products or services. Other trademarks, service marks and trade names that may appear on or in the Service are the property of their respective owners.

Your Content. Company does not claim ownership of Your Content. However, when you as a user Make Available any Content on or in the Service, you represent that you own and/or have a royalty-free, perpetual, irrevocable, worldwide, non-exclusive right (including with respect to any moral rights) and/or license to use, license, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, derive revenue or other remuneration from, and communicate to the public, perform and display Your Content (in whole or in part) on a worldwide basis and to incorporate it in other works in any form, media or technology now known or later developed, for the full term of any worldwide intellectual property right that may exist in Your Content. 

License to Your Content. Subject to any applicable Account settings that you select, you grant Company a fully paid, royalty-free, perpetual, irrevocable, worldwide, royalty-free, non-exclusive and fully sublicensable right (including any moral rights) and license to use, license, distribute, reproduce, modify, adapt, publicly perform, and publicly display Your Content (in whole or in part) for the purposes of operating and providing the Service to you and to our other users. Please remember that other users may be able to search for, see, use, modify and/or reproduce any of Your Content that you submit to any “public” area of the Service. 

Username. Notwithstanding anything contained herein to the contrary, by submitting Your Content to any forums, comments, or any other area on the Service, you hereby expressly permit Company to identify you by your username (which may be a pseudonym) as the contributor of Your Content in any publication in any form, media or technology now known or later developed in connection with Your Content.

Feedback. You agree that submission of any ideas, suggestions, documents, and/or proposals to Company through its suggestion, feedback, forum, or similar pages (“Feedback”) is at your own risk and that Company has no obligations (including without limitation obligations of confidentiality) with respect to such Feedback. You represent and warrant that you have all rights necessary to submit the Feedback. You hereby grant to Company a fully paid, royalty-free, perpetual, irrevocable, worldwide, non-exclusive, and fully sublicensable right and license to use, reproduce, perform, display, distribute, adapt, modify, re-format, create derivative works of, and otherwise commercially or non-commercially exploit in any manner, any and all Feedback, and to sublicense the foregoing rights, in connection with the operation and maintenance of the Service and/or Company’s business.

User Conduct and Certain Restrictions

As a condition of use, you agree not to use the Service for any purpose that is prohibited by this Agreement or by applicable law. You shall not (and shall not permit any third party) to: (a) license, sell, rent, lease, transfer, assign, reproduce, distribute, host or otherwise commercially exploit the Service or any portion of the Service; (b) frame or utilize framing techniques to enclose any trademark or logo located on the Service or any other portion of the Service (including images, text, page layout or form); (c) use any metatags or other “hidden text” using Company’s name or trademarks; (d) modify, translate, adapt, merge, make derivative works of, disassemble, decompile, reverse compile or reverse engineer any part of the Service except to the extent the foregoing restrictions are expressly prohibited by applicable law; (e) use any manual or automated software, devices or other processes (including but not limited to spiders, robots, scrapers, crawlers, avatars, data mining tools or the like) to “scrape” or download data from any web pages contained in the Service (except that we grant the operators of public search engines revocable permission to use spiders to copy materials from the Service for the sole purpose of and solely to the extent necessary for creating publicly available searchable indices of the materials, but not caches or archives of such materials); (f) remove or destroy any copyright notices or other proprietary markings contained on or in the Service; or (g) take any action or Make Available any Content on or through the Service that: (i) is unlawful, threatening, abusive, harassing, defamatory, libelous, deceptive, fraudulent, invasive of another’s privacy, tortious, obscene, offensive, or profane; (ii) constitutes unauthorized or unsolicited advertising, junk or bulk e-mail; (iii) involves commercial activities and/or sales, such as contests, sweepstakes, barter, advertising, or pyramid schemes without Company’s prior written consent; (iv) impersonates any person or entity, including any employee or representative of Company; or (v) interferes with or attempts to interfere with the proper functioning of the Service or uses the Service in any way not expressly permitted by this Agreement. Without limiting the foregoing, except as expressly stated herein, no part of the Service may be copied, reproduced, distributed, republished, downloaded, displayed, posted or transmitted in any form or by any means. The rights granted to you in this Agreement are subject to your compliance with the restrictions set forth in this section. Any unauthorized use of the Service terminates the licenses granted by Company pursuant to this Agreement.

INVESTIGATIONS, MONITORING, & NO OBLIGATION TO PRE-SCREEN CONTENT. Company may, but is not obligated to, investigate, monitor, pre-screen, remove, refuse, or review the Service and/or Content, including Your Content and User Content, at any time. By entering into this Agreement, you hereby provide your irrevocable consent to such monitoring. You acknowledge and agree that you have no expectation of privacy concerning the transmission of Your Content, including without limitation chat, text, or voice communications. 

Without limiting the foregoing, Company reserves the right to: (a) remove or refuse to post any of Your Content for any or no reason in our sole discretion; (b) take any action with respect to any of Your Content that we deem necessary or appropriate in our sole discretion, including if we believe that such Content violates this Agreement, infringes any intellectual property right or other right of any person or entity, threatens the personal safety of users of the Service or the public, or could create liability for the Company; (c) disclose your identity or other information about you to any third party who claims that material posted by you violates their rights, including their intellectual property rights or their right to privacy; (d) take appropriate legal action, including without limitation, referral to and cooperation with law enforcement and/or other applicable legal authorities, for any illegal or unauthorized use of the Service or if Company otherwise believes that criminal activity has occurred; and/or (e) terminate or suspend your access to all or part of the Service for any or no reason, including without limitation, any violation of this Agreement. Upon determination of any possible violations by you of any provision of this Agreement, Company, may, at its sole discretion immediately terminate your license to use the Service, or change, alter or remove Your Content, in whole or in part, without prior notice to you.If Company believes that criminal activity has occurred, Company reserves the right to, except to the extent prohibited by applicable law, disclose any information or materials on or in the Service, including Your Content, in Company’s possession in connection with your use of the Service, to (i) comply with applicable laws, legal process or governmental request, (ii) enforce this Agreement, (iii) respond to any claims that Your Content violates the rights of third parties, (iv) respond to your requests for customer service, or (v) protect the rights, property or personal safety of Company, its users or the public, and all enforcement or other government officials, as Company in its sole discretion believes to be necessary or appropriate.

Termination or Cancellation of Agreement

This Agreement begins upon acceptance by the Customer and continues until cancelled or terminated by either party. The Customer may terminate or cancel this Agreement with 30 days' written notice, at any time and for any reason, so long as written noticed of such cancellation or termination is made to the other Party and to PJM GATS at least thirty days (30) prior to the effective date of cancellation or termination, or as is required by any notice requirements required by any form required by the Applicable Tracking System, or by a third party Forward Contract to which User is a Party, and Currents its agent in any management or transaction capacity, unless otherwise permitted or precluded by these Terms. The Company may also terminate this Agreement with 30 days' written notice if there is non-compliance with the terms or changes in market or regulatory conditions.

Representations and Warranties

The Customer represents and warrants that they are the rightful owner of the reneweable energy credits ("RECs" or "SRECs") generated by their solar energy system and have full authority to enter into this Agreement. Currents Energy does not guarantee the market value of RECs or the success of sales.

Indemnification

The Customer agrees to indemnify, defend, and hold Currents Energy, Inc., its officers, directors, employees, agents, partners, suppliers, and licensors (each, a "Company Party") harmless from any claims, liabilities, damages, losses, costs, and expenses (including reasonable attorneys' fees) arising out of or relating to: (a) the Customer's use of the Service; (b) any breach of this Agreement; (c) any violation of applicable law or regulation; or (d) the Customer's violation of any rights of a third party, including intellectual property rights. Currents Energy, Inc. reserves the right to assume the exclusive defense and control of any matter otherwise subject to indemnification by the Customer, in which event the Customer will fully cooperate with Currents Energy, Inc. in asserting any available defenses.

Confidentiality

Both parties agree to maintain the confidentiality of proprietary or sensitive information shared under this Agreement, including but not limited to customer data, financial information, and energy production data. Confidential information shall not be disclosed without prior written consent, except as required by law.

Limitation of Liability

To the fullest extent permitted by applicable law, the Company will not be liable for any indirect, incidental, consequential, special, exemplary, or punitive damages, including but not limited to loss of profits, revenue, or data, arising out of or in connection with the use or management of RECs, whether based on warranty, contract, tort (including negligence), or any other legal theory, even if the Company has been advised of the possibility of such damages. In no event shall the Company's total liability to the Customer for all claims exceed the amount paid by the Customer to Currents Energy, Inc. in the 12 months preceding the claim.

Dispute Resolution

In the event of a dispute arising out of or related to this Agreement, the parties agree to first attempt to resolve the dispute through good faith negotiations. If the dispute cannot be resolved, it will be submitted to binding arbitration in accordance with the rules of the American Arbitration Association. The arbitration will be conducted in the county where the Customer resides. You agree to waive any right to participate in a class action lawsuit or class-wide arbitration.

Notice of Dispute

The party initiating a dispute must give notice to the other party in writing of its intent to initiate an Informal Dispute Resolution Conference ("Notice"), which shall occur within 45 days after the other party receives such Notice, unless an extension is mutually agreed upon by the parties. Notice to Currents Energy, Inc. that you intend to initiate an Informal Dispute Resolution Conference should be sent by email to hello@getcurrents.com. The Notice must include: (1) your name, telephone number, mailing address, email address associated with your account; (2) the name, telephone number, mailing address, and email address of your counsel, if any; and (3) a description of your dispute.

The Informal Dispute Resolution Conference shall be individualized such that a separate conference must be held each time either party initiates a dispute, even if the same law firm or group of law firms represents multiple users in similar cases, unless all parties agree. Engaging in the Informal Dispute Resolution Conference is a condition precedent and requirement that must be fulfilled before commencing arbitration. The statute of limitations and any filing fee deadlines shall be tolled while the parties engage in the Informal Dispute Resolution Conference process.

Waiver of Jury Trial and Class Action

YOU AND CURRENTS ENERGY, INC. HEREBY WAIVE ANY CONSTITUTIONAL AND STATUTORY RIGHTS TO SUE IN COURT AND HAVE A TRIAL IN FRONT OF A JUDGE OR A JURY. You and Currents Energy, Inc. are instead electing that all disputes shall be resolved by arbitration under this Arbitration Agreement. There is no judge or jury in arbitration, and court review of an arbitration award is limited. You and Currents Energy, Inc. also agree that each may bring claims against the other only on an individual basis and not as a plaintiff or class member in any purported class or representative action or proceeding.

Third-Party Service Provider

The Company uses third-party service providers, including Stripe, Inc., for payment processing services. By using the Service, you agree to be bound by the terms and conditions of such third-party service providers, including Stripe’s Privacy Policy and Terms of Service. You consent to Currents Energy, Inc. sharing your information with such third-party service providers as necessary to complete transactions.

The Service may contain links to third-party websites, applications, and advertisements (collectively, "Third-Party Services"). The Company is not responsible for the content or privacy practices of Third-Party Services. Your use of Third-Party Services is at your own risk, and such use is governed by the terms and conditions of those third parties.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the states of Delaware and California, without regard to conflicts of law principles.

General Provisions

  • Assignment: The Customer may not assign or transfer their rights or obligations under this Agreement without prior written consent.
  • Force Majeure: Neither party will be liable for any failure to perform due to events beyond their reasonable control (e.g., natural disasters, government actions).
  • Notices: Notices required under this Agreement shall be sent to hello@getcurrents.com.
  • Electronic Communications: By using the Service, you agree to receive communications from Currents Energy electronically, including via email or postings on the Service. You agree that all terms, conditions, agreements, notices, and other communications provided electronically satisfy any legal requirement that such communications would satisfy if they were in writing.
  • Severability: If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck, and the remaining provisions shall be enforced to the fullest extent under law.
  • Waiver: Any waiver or failure to enforce any provision of this Agreement on one occasion will not be deemed a waiver of any other provision or of such provision on any other occasion.
  • Entire Agreement: This Agreement constitutes the entire agreement between the parties regarding the use of the Service and supersedes all prior agreements and understandings, whether written or oral.


Updates to the Agreement

We may update this Agreement from time to time. If we make material changes, you will be notified via email or through your account dashboard. Your continued use of the Service after any such updates constitutes your acceptance of the new terms.

End of Agreement.