Further information on the Greenpoint Mews Solar Project:
Utility, Price and Payouts:
The anticipated rate of return from the income generated by the project is 12% per annum, although this return cannot be guaranteed. Payouts from the electricity generated by the solar system and bought by Greenpoint Mews will be paid out to solar certificate owners every quarter in the stablecoin USDC.
The following tiers of solar certificates will be available for purchase:
1st Tier Solar Certificate – $4
Dip your toes
568 available to purchase & trade
2nd Tier Solar Certificates – $8
Two Solar Cells
Explore funding renewables
400 available to purchase & trade
3rd Tier Solar Certificate – $141
Make an impact
140 available to purchase & trade
4th Tier Solar Certificate – $283
Make a difference
55 available to purchase & trade
5th Tier Solar Certificate at $565
For heavyweight investors
20 available to purchase & trade
Product Info & Finer Details:
A solar power system is installed at Greenpoint Mews (GM). GM then purchases the electricity generated by the solar system in terms of a 20-year power purchase agreement (PPA). At the end of the 20-year lifespan of the PPA, GM shall have the right to enter into a new PPA or purchase the solar system outright. In both cases, appropriate experts shall be used to determine the fair market values for the new rental amount or purchase price. Note that the value of the solar system may be determined to be zero. If further value is created by the project after the initial 20 year period (whether through the renewal of the PPA or the sale of the solar power system), that value will continue to be distributed to all the solar certificate holders.
GM also has the option to purchase the solar system throughout the 20-year PPA. If it chooses to exercise this option, the purchase price of the solar system shall be set at a rate that provides the solar certificate owners a return on their investment comparable to that which they would have received if the 20-year PPA had run its full term.
Payouts will take place in the stablecoin, USDC, and will be distributed by Momint every three months after the solar system comes into operation.
Each solar cell will reduce 89.45 kg of CO2 over 20 years, equivalent to:
- 1.5 seedlings grown for 10 years or
- 3.4 lamps switched to LED or
- 355 km driven by an average passenger vehicle
- Total solar project size 50 kWp PV + 50 kVA
- Lease term 20 Years
- Payment schedule: quarterly
- Holders will be notified once the installation is operational
- Estimated annual generation: 50 kWh per cell
Project Address: 1 Green Point Mews, 99 Main Rd, Green Point
- Solar PV system: 50 kWp
- Solar panel type: SunSynk
- Solar manufacturer: Bright House
- Mounting system: Tilt Mount on Flat Roof
- Battery system: 50 kWh
- Battery manufacturer: SunSynk
- Inverter: 50 kW
- Inverter manufacturer: SunSynk
- Standard compliance: IEC-62103 (EN50178), IEC-62109, AS3100
- Installation standards met: NRS097 and SANS10142 codes
- Estimated annual generation 99.66 MWh
- Probability factor: 50%
- Self-consumption: 100%
S12B Tax Information: Introducing the SunCash Solar Certificate by Momint – a unique opportunity to invest in the future of renewable energy in South Africa. When you purchase a Solar Certificate, you’re not just buying a digital asset. You’re investing in a solar project, gaining a beneficial interest in it, and acquiring the right to receive income from the sale of electricity generated by that project. Moreover, as a result of the South African government’s introduction of the section 12BA tax allowance (under Section 12B of the Income Tax Act), certificate purchasers will now have the ability to reduce their taxable income by 125% of the cost of their solar certificates.For example: If a business purchases a solar power system (or a part thereof) for R100 000, then it will be able to reduce its taxable income by R33 750.
(Calculated as the amount invested x the 125% allowance x the applicable tax rate [as a business the applicable tax rate is the corporate tax rate]. The formula is therefore: [100 000*125%]*27% = 33 750).
Naturally, the ultimate reduction in the amount of tax the business or individual pays depends on their tax bracket and overall amount of taxable income they earn. It should also be noted that this only applies to those who pay South African tax. If a business or individual does not pay any tax to the South African government, then this initiative will not apply to you.
For more detail on the tax allowance and how it works, please click the this link.
Claiming Your Tax Allowance
Statement of Account: Momint will provide you with a statement of account with the details of the solar project to which your solar certificate relates. You then include the statement of account as part of your ITR12 submission during the tax return season.
Please note: While the solar certificate provides the ability to obtain the tax allowance, we cannot guarantee that SARS will process the return favourably. It’s essential to consult with a tax specialist to understand the specifics of your situation.
The price of your solar certificate also incorporates the following benefits:
- Insurance (fire, theft, damage)
- Ongoing maintenance (such as annual cell cleaning)
- Contributions to a maintenance reserve
- Administration services
Specific Investment Risks: Investing in solar energy is a promising venture, but like all investments, it comes with its risks.
Your earnings from a solar project can be impacted by a variety of factors including but not limited to installation timeline delays, fluctuations in solar cell performance and energy generation, default or non-payment from the energy consumer, fiat and digital currency fluctuation, government regulatory changes and power outages. Momint therefore conducts thorough due diligence on every potential energy consumer (in this case Greenpoint Mews) before committing to a solar project with them. However, no matter how thorough our due diligence, we cannot totally eliminate any or all potential risks.
General Investment Risks and Legal Disclaimers
Investment Risks: All investments and purchases, including those in solar projects or any projects on Momint, come with inherent risks. The value of your investment can go up as well as down, and you may not get back the full amount you invested. Past performance is not indicative of future results and there is the potential for your investment to go down to zero.
Due Diligence: It’s imperative that you conduct your own research and due diligence before making any investment or purchasing decisions. Ensure you understand the risks associated with the investment or purchase and seek independent advice if necessary.
Tax Implications: You are responsible for any tax implications arising from your investments or purchases. It’s recommended you consult with a tax professional or advisor to understand any potential tax liabilities you may have based on your jurisdiction and individual circumstances.
Security Reminder: Always safeguard your Momint Wallet or personal wallet credentials. Momint isn’t responsible for any loss for whatever reason of your NFTs or digital assets due to your personal negligence.
Regulatory Status: This product hasn’t been authorised by the Financial Sector Conduct Authority of South Africa or the United Kingdom’s Financial Conduct Authority.
Invest wisely, and let’s pave the way for a brighter, greener future together.