SREC Service Agreement

What are SRECs?

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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.

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SREC Management and Sales

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

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Opt-In for SREC Management

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The Service includes an optional SREC management feature (the "SREC Service"). By default, you do not have any obligation to use the SREC Service, and your general use of the Currents platform is governed by the other terms in this Agreement.

However, if you choose to enroll in the SREC Service (for example, by checking the relevant box or clicking "I Agree" to the SREC Terms within your dashboard), you agree to be bound by the SREC-related terms described below (the "SREC Terms"). If you do not enroll in the SREC Service, then the SREC Terms do not apply to you.

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SREC Fee Structure and Payment Terms

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Pricing and Fees for SREC Service

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

Payment Terms for SREC Service

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

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Generator Owner's Rights and Consent

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• 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

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Termination of SREC Service

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In the case of the SREC Service, 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 or relevant REC pool 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.

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Representations and Warranties for SREC Service

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The Customer represents and warrants that they are the rightful owner of the renewable 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.

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Governing Law

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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.

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Relationship to General Terms

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This SREC Service Agreement is supplemental to the General Terms of Service. In the event of any conflict between this SREC Service Agreement and the General Terms of Service, the terms of this SREC Service Agreement shall prevail with respect to the SREC Service only.

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End of SREC Service Agreement.