Collector of Solar Renewable Energy Certificates (SREC). RECmint has announced that it has rebranded and relaunched after doing business as Sun Tribe Trading since 2020. RECmint is a Mid-Atlantic SREC aggregator and broker that streamlines the process for residential customers to mint and sell SRECs from their solar PV systems. Additionally, RECmint is purpose-built to solve the most common pain points that solar installers have historically experienced when onboarding customers to SREC platforms.
The company initially focused on Virginia residents but recently expanded to Washington, DC and Maryland in response to customer demand. It plans to further expand to other PJM states in the near future. In addition to the rebranding 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, RECmint offers 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 power generation, while trusting that RECmint will monitor their system for peak performance.
“SRECs can be a big part of affordability for solar owners, and they play an important role in the energy transition overall. In the age of Amazon Prime and Apple Pay, it is critical that the coin 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 sign-up process, automated reporting and predictable deposits.”
SRECs are a solar-specific type of renewable energy certificate (REC), which is essentially the “receipt” certifying a certain amount 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 goals, and businesses can purchase them to make progress toward renewable energy or emissions reduction goals. By selling their SRECs through an aggregator like RECmint, residential customers can further increase the value of their solar PV systems.
RECmint connects to residential customers through close partnerships with solar PV installers, and it has streamlined the user experience to address the most common issues faced by installers on other SREC platforms, making efficiency and convenience top priorities. The company’s fast 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 every installer to simplify workflows.
RECmint’s advanced energy reporting platform allows it to monitor customers’ system performance, allowing the operations team to flag system issues that could cause real financial losses for solar owners. Common problems – from failing inverters to shading from recent tree growth – can contribute to underperformance and lead to a reduction in actual energy generation and SREC revenue. And in a state like Virginia, where retail net metering is still common, solar power generation can provide significant value in offsetting customer energy bills. As the only SREC aggregator invested in maximizing the performance of PV systems, 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, fixed rate – where the price per REC is fixed for a period of three or more years – and prepayment of a lump sum, with competitive terms. Along with a variety of pricing options, RECmint has re-streamlined its registration process to be even faster and easier than before, with most of its customers receiving registration approval in five days or less.
RECmint started in 2020 as Sun Tribe Trading 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 expanding its team as demand for its services continues to increase. It also plans to expand into new and adjacent markets, such as New Jersey and Pennsylvania. Although RECmint focuses primarily on the residential market, it serves commercial and large customers with customized monetization services.
News item from RECmint
