Frequently Asked Questions (FAQs)
1. Do I already need to have solar panels?
No, once you contact us, we will ask you for your building's roof plans and work with our installer partner to give you a detailed assessment of the upfront cost, recurring cost and recurring revenue through the life of the system.
2. What are RECs?
Renewable Energy Credits (RECs) are accounting instruments used to track the generation of energy that comes from renewable sources that include solar, wind, hydro, biomass, etc. Your tenants will receive matching RECs for the electricity that your solar panels generate as a proof of solar energy generation.
3. How long will it take for me to recoup my investment?
Generally, we have found that our process significantly improves the payback timeline but this can vary depending on the specifics of the system. Please contact us for a detailed analysis of your building's potential.
4. Do I have to worry about maintenance or teaching our building managers about solar?
Solar panel systems are generally low maintenance. Your building managers can also go enroll for a 2-day training PV System Operations and Maintenance here.
5. Who owns the solar panels?
The solar panels are owned by the building and the tenants are simply borrowing them by paying you monthly green fees to benefit through carbon footprint reduction and CarbonMinus Rewards Points.
6. What happens if the tenant moves?
Tenants can continue being subscribed to your system to continue earning the benefits.
7. How does billing work?
The tenant signs up on microWatt's platform and provide their utility account information. This enables us to receive their monthly utility bill and also pay it. The tenant will pay us a single bill that includes their utility bill and solar panel bill. We will then distribute the solar panel green fees to you.
8. How much does microWatt Energy charge?
You pay us a portion of the money earned through green fees from the tenants.
9. If the solar panels are not producing electricity, will I still have power?
We are not changing the source of your electricity. Your building will always stay connected to the grid.
9. How is this helping the environment?
Your investment is helping convert the empty canvas on your building into solar generators. While utilizing existing real estate, you are directly helping more electricity come from solar energy, which means there is less need for electricity from coal or other conventional sources.