What Does COD Mean In Solar?
SolRiver Investment Milestone at COD
COD, or “Commercial Operation Date”, is the day that the system becomes fully operational and can begin selling power under the terms of the PPA. Typically, SolRiver releases any unpaid funding amount (called the Purchase Price) when the project meets the COD milestone. There are a handful of conditions to meeting COD and we strive to make them as transparent as possible from the start.
Our COD Conditions include:
1 Final Completion Reached
The system is mechanically, electrically, and structurally compliant with the EPC agreement.
- The system is commissioned according to the proposed system design.
- All permits necessary to construct and operate the system have been obtained.
- The system passes building inspection by the relevant jurisdiction
2 Final Interconnection Approved
The local utility approved the system to interconnect with the grid and has issued permission to operate.
3 PPA Satisfied
All conditions for selling power under the PPA have been satisfied.
4 Independent Engineering Review
A third-party independent engineer confirms that the as-built project specs are consistent with the proposed system specs.
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