Solar renewable energy certificate (SREC) aggregator RECmint announced it has rebranded and relaunched after doing business as Sun Tribe Trading since 2020. RECmint is an SREC aggregator and broker in the Mid-Atlantic that streamlines the process for residential customers to mint and sell SRECs from their solar PV systems. In addition, RECmint has been purpose-built to solve the most common pain points solar installers have historically experienced onboarding customers to SREC platforms.
The company initially catered to Virginia residents, but has recently expanded into Washington, D.C., and Maryland in response to customer demand. It plans to further expand into additional PJM states in the near future. In addition to its rebrand and geographic expansion, RECmint is also prioritizing lower costs for its users and has reduced its spot market transaction fees to 5%.
With more than 60 solar installer partners and nearly 6,000 residential customers and counting, RECmint provides a modernized platform with an easy-to-navigate user interface, integrations with all major inverters and automated processes that make it easier than ever for installers to enroll residential customers. Users of the platform can quickly monetize their residential solar generation while trusting that RECmint will monitor their system for peak performance.
“SRECs can be a big part of the affordability equation for solar owners, and they have an important role to play in the energy transition overall. In the age of Amazon Prime and Apple Pay, it’s critical that the minting and trading experience minimizes friction and headaches,” said Ian Ayers, president of RECmint. “RECmint will continue to perfect the SREC experience; our users can expect a smooth signup process, automated reporting, and predictable deposits.”
SRECs are a solar-specific type of renewable energy certificate (REC), which is essentially the “receipt” that confirms a specified quantity of renewable energy generation. One REC is equal to 1 MWh of clean energy. Utilities can purchase SRECs to meet internal or state-mandated renewable energy targets and corporations can buy them to make progress toward renewable energy or emissions-reduction targets. By selling their SRECs through an aggregator like RECmint, residential customers can further boost the value of their solar PV systems.
RECmint is connected with residential customers via its close partnerships with solar PV installers, and it has streamlined the user experience to address the most common problems installers face on other SREC platforms, making efficiency and ease top priorities. The company’s quick referral payments for installers are above the industry standard, and installers can also save time with RECmint’s unique referral platform, which simplifies all steps involved. Finally, RECmint is the only platform of its kind that offers custom data integrations for any installer to simplify workflows.
RECmint’s advanced energy reporting platform enables it to monitor customer system performance, allowing its operations team to flag system issues that can cause real financial loss for solar owners. Common issues — anything from failing inverters to shading from recent tree growth — can contribute to underperformance and lead to a reduction in actual energy generation and SREC earnings. And in a state like Virginia, where retail net metering is still commonplace, that PV generation can represent a significant value to offset the customer’s utility bill. As the only SREC aggregator invested in maximizing PV system performance, RECmint provides an extra layer of value and peace of mind to its customers.
RECmint offers its end users flexible payment options, including spot market, locked rate — which fixes the price per REC for a term of three or more years — and upfront lump sum payment, with competitive terms. Along with a variety of pricing options, RECmint has newly streamlined its registration process to be even faster and easier than before, with most of its customers receiving registry approval within five days or less.
RECmint began as Sun Tribe Trading in 2020 as an offshoot of Sun Tribe and its core businesses: Sun Tribe EPC (Engineering, Procurement, and Construction), Sun Tribe Development and Sun Tribe Asset Management. As RECmint solidifies its place in the residential sector, Sun Tribe continues to strengthen its focus on the utility- and community-scale solar markets in the Appalachia, Mid-Atlantic and Southeast regions.
RECmint is currently adding to its team as demand for its services continues to ramp up. It is also planning to expand into new and neighboring markets, such as New Jersey and Pennsylvania. While RECmint focuses primarily on the residential market, it serves commercial and large-volume customers with bespoke monetization services.
News item from RECmint
