Common use of Actual Output and Refunds Clause in Contracts

Actual Output and Refunds. a. On the anniversary of the In-Service Date and on every anniversary thereafter, Sunrun will calculate the "Actual Output" of the Solar System. For the purposes of this Agreement, "Actual Output" shall mean the amount of electric energy generated by the Solar System to date plus any kWh for which you have previously received a refund. Subject to Section D(2), if the Actual Output is less than the Guaranteed Output for that anniversary date set forth on Exhibit A, Sunrun will issue you a refund. This refund will be calculated by subtracting the Actual Output for that anniversary date from the Guaranteed Output for that anniversary date, and multiplying the result by the refund per kWh amount as set forth for that anniversary date on Exhibit A. For example, if in year 10 the system was expected to have generated 62,000kWh cumulatively and actual generation was 61,500, and your refund rate is $0.13, we will credit your account based on the 500kWh the system fell short multiplied by your refund rate, i.e. 500kWh x $0.13 = $65. b. If you purchase the Solar System from Sunrun pursuant to Section G(4), and at the time of purchase the Actual Output is less than the Guaranteed Output for that anniversary date as set forth on Exhibit A, Sunrun will apply a credit towards the purchase price for the Solar System. This credit will be calculated by subtracting the Actual Output from the Guaranteed Output, and then multiplying the result by the refund per kWh amount on the anniversary date that precedes the date of purchase.