Good news for homeowners and businesses in Massachusetts that want to go solar. Sol Systems, a solar renewable energy credit (SREC) aggregator, is offering a new way to get solar energy for cheaper with a new program called “Sol Upfront.”

The program allows homeowners and businesses to install solar and sell 10 years’ worth of SRECs in exchange for a lump-sum payment. Ostensibly, the program functions similarly to a check-cashing service, paying up-front for funds that have haven’t cleared, with one major difference.

Unlike a paycheck, which has a fixed amount, the price of an SREC is constantly fluctuating along with the market.

"Because the Massachusetts' SREC market is new, and there is an element of risk compared to some other well-established SREC markets, we have created ways for our customers to address this risk in the way that best fits their financial profile," said Sol Systems CEO Yuri Horwitz in a press release. "Our Sol Upfront option removes SREC market risk and regulatory risk entirely."

Sol sidesteps some of the risk by issuing three- and five-year fixed prices for the SRECs, called “Sol Annuity.” Under the program, customers receive a fixed price for each SREC, paid quarterly.

“The 5 year term pays $275/SREC and the 3 year term pays a guaranteed rate of $400/SREC,” stated a company press release. “Both are backed by long-term utility contracts.”

The Sol programs are available to residential and commercial solar system owners. For systems over 20 kilowatts, Sol Systems will waive all brokerage fees.

For more information, visit Sol Systems’ website.

Pictured: CFO and Vice President, George Ashton III, courtesy of Sol Systems.