Frequently Asked Questions (FAQ)
What states does RExChain serve?
RExChain serves New Jersey, Pennsylvania, Maryland, and Washington DC.
What is the RExChain Fee for processing my REC?
We charge 7% on each REC processed. RExChain does everything from helping with onboarding, generation data reporting, REC creation, finding buyers and issuing payment to customers. For administratively determined incentives, RExChain reports the REC to the program administrator and settles payment from them to the customer.
Is RExChain only for residential solar systems?
No, RExChain services both Residential and Commercial and Industrial (C&I) systems.
Why are there many types of RECS in NJ?
RECs are mechanisms to improve economics of the solar installation cost. During early days of the solar industry, the cost of the systems were high and needed incentives to lower the payback period of the system. As the number solar installations increased and the cost of solar came down, the incentives are no longer required to be as high for the economics to work. Therefore subsequent tiers of RECs have been administratively determined by the State to be lower than previously market driven REC prices.
Are there size thresholds or system requirements?
RExChain serves most Residential and Commercial and Industrial (C&I) systems. Residential system sizes typically tend to be between 1-25 kWdc and C&I system sizes are from 25 kW-5 MWdc. Systems must be approved by State Clean Energy program.
How do I track my REC performance and earnings?
RExChain provides a customer portal that can be used to track RECs and earnings status. RExChain also issues monthly settlement statement and quarterly performance reports for customers.
What happens to my RECs after I sell them?
RECs are typically sold to a broker or sent to the program administrator, who then sell it to the Load Serving Entity/LSE (Utility). They LSEs ultimately retire the RECs and will claim ownership of the RECs and the associated environmental benefit.
How many RECs does a typical home solar system generate?
A typical home solar system is 10 kW and creates about 12 RECs per year. During winter months solar systems make less energy and therefore less RECs but the amount of RECs produced in the Summer, Spring and Fall is higher.
What makes RExChain different from other REC management platforms?
RExChain provides innovative products and solutions that are not typically available from other competitors. Starting with personalized consultation and onboarding, solar performance reports and performance alerts. Our staff provide personalized 1:1 support and are accessible when you need us.
After signing up, when will I receive my first REC incentive payment?
Typical duration for market driven RECs is 30 -45 days. Customers also have the option of banking their REC payments and have them issued Monthly, Quarterly, or Annually. For Administratively Determined RECS (I.e. NJ TRECS and NJ SREC II) durations are longer and requires 90 day for first payment. Once a REC has been issued by GATS, payment for corresponding REC will be issued 90 days after.
What is needed for the onboarding process?
| Typically we need 5 documents for onboarding. Two documents from your Installer, one from you and two we generate. 1) State program approval of RECs; 2) Final As-built Documents from Installer with PTO Date; 3) Monitoring System Access Details; 4) Schedule A Form for PJM GATS;; 5) RExChain Service Contract.;; |