ISA EXIT 1 SOLAR – COMMUNITY SOLAR RESERVATION FORM

ISA EXIT 1 SOLAR

COMMUNITY SOLAR RESERVATION FORM

GENERAL INFORMATION:

Integrated Solar is sponsoring a community solar project known as ISA Exit 1 Solar located on Canal Street in Brattleboro, VT within the utility territory of Green Mountain Power Corporation (“GMP”). Integrated Solar owns the 13.8 acre site where the array is being located.

Members of this community solar project will purchase solar panels and receive a license agreement for the Balance of the System (racking, wiring, inverters, interconnection, etc). The solar project Balance of the System ownership will be held by CCB Corporation, a company solely owned by Andrew Cay. The license will extend for a period of 25 years with a potential option to extend for one additional 5 year term. The management and operating expense responsibility will remain with Integrated Solar. A minimum of 25% of the project energy production shall be set aside for the project to provide the necessary funding for ongoing expense obligations. The solar system up front cost and on-going expense for the racking structure, inverters, wiring, maintenance, taxes and insurance are all included in the one-time buy-in price.

Members will receive energy credits directly on their Green Mountain Power monthly utility bill. These energy credits are being sold and assigned in units based on the energy produced by one solar panel (an “Energy Credit Share”). These Energy Credit Shares are being sold on a Gross basis and as such will include all solar tax credits, and any other tax benefits. The renewable energy certificates (“RECs”) will be transferred to and owned by Green Mountain Power to be retired and put toward Vermont’s Renewable Energy Goal.

Each Energy Credit Share can be purchased for $1,591.00, subject to change based on the panel size but in any event in the amount of $3.70/watt. Members may purchase Energy Credit Shares in an amount up to that amount which will zero out their GMP annual energy cost. A full Energy Credit Share (currently a 430 watt panel) is projected to provide an average bill credit of approximately 554.70 kWh’s per year or $81.26 per year given the current utility solar project reimbursement rate ($.1465/kWh). Actual bill credits will be determined by utility rates for each given billing period increasing as utility rates increase.

This reservation agreement notifies Integrated Solar of your intent to purchase solar panels as indicated below subject to meeting the requirements of Vermont’s Group Net Metering statute at 30 V.S.A. § 219 and GMP’s Net Metering policies. You are not committing to the purchase of the solar panels until such time that you execute a Community Solar License and Operation, Maintenance, and Net Metering Agreement and Contract for Purchase of Solar Photovoltaic Panels (“License and Purchase Agreements”). The License and Purchase Agreements will be signed prior to the start of construction once all permits are procured and a construction start date has been established. The payments will be as follows:

  1. 10% deposit at signing of this Reservation Agreement
  2. 55% at the signing of the License and Purchase Agreements, which will be when the system components are procured. We are estimating July 31, 2022 for this date.
  3. 35% two weeks prior to the community solar project achieving Substantially Completion and readiness to export energy to GMP’s utility grid, anticipated to be October 31, 2022.

SHARE RESERVATION:

Please fill this out, print it, then sign it and mail it to us with a check.
Please note that you are not signed up until we receive your initial payment.

Please indicate the number of shares to be reserved and the total cost of your shares (“Total Share Purchase Amount”) to be due as of the Closing Date:

X $1,591.00 = $
Total Shares   Total Share Purchase Amount

DEPOSIT INFORMATION:

A reservation deposit in the amount of 10% of the Total Share Purchase Amount is acknowledged with the execution of this agreement. This is a refundable deposit that is held in a segregated bank account devoted to the community solar project deposits until the Closing Date. The Reservation Deposit Amount is shown below:

$ X .10 = $
Total Share Purchase Amount   Reservation Deposit Amount

SPONSOR INFORMATION:

Integrated Solar Applications Corporation
Attn: Katrina Wilson
121 Spring Tree Rd
Brattleboro, VT 05301
802-257-7493
Email: kwilson@isasolar.com

MEMBER INFORMATION:

Name:
Service Address:
City:
State: Vermont
Zip Code:
Mailing Address (if different than above):
City:
State:
Zip Code:
Telephone Number:
Utility Account Number:
Meter Number:
Email Address:
Acknowledged and agreed to this day of 2022.
Member Signature: