EX-4.1



 Exhibit 4.1 

GREENBACKER RENEWABLE ENERGY COMPANY LLC 
 FORM OF DISTRIBUTION REINVESTMENT PLAN 
 Greenbacker Renewable Energy
Company LLC, a Delaware limited liability company (the “Company”), has adopted the following Distribution Reinvestment Plan (the “DRP”). Capitalized terms shall have the same meaning as set forth in the Company’s Amended and
Restated Limited Liability Company Operating Agreement, as such agreement may be amended (“Operating Agreement”) unless otherwise defined herein. 
 1. Distribution Reinvestment. As an agent for the members (“Members”) of the Company who purchase shares of the Company’s shares of limited liability company interests (the
“Shares”) pursuant to an offering by the Company (“Offering”), and who elect to participate in the DRP (the “Participants”), the Company will apply all cash distributions, other than Designated Special Distributions (as
defined below), (“Distributions”), including Distributions paid with respect to any full or fractional Shares acquired under the DRP, to the purchase of the Shares for such Participants directly, if permitted under state securities laws
and, if not, through the Dealer Manager or Soliciting Dealers registered in the Participant’s state of residence. The Shares purchased pursuant to the DRP shall be of the same Share class as the Shares with respect to which the Participant is
receiving cash distributions to be reinvested through DRP. As used in the DRP, the term “Designated Special Distributions” shall mean those cash or other distributions designated as Designated Special Distributions by the Board of
Directors. 
 2. Participation. Any Member who owns Shares and who has received a prospectus, as contained in the
Company’s Registration Statement (the “Registration Statement”) filed with the Securities and Exchange Commission (“Commission”), may elect to become a Participant by completing and executing a subscription agreement, an
enrollment form or any other appropriate authorization form as may be available from the Company from time to time. Participation in the DRP will begin with the next Distribution payable after receipt of a Participant’s subscription, enrollment
or authorization, provided such subscription, enrollment or authorization is received at least 15 business days prior to the last day of the calendar month. Shares will be purchased under the DRP on the date that Distributions are paid by the
Company. Each Participant agrees that if, at any time prior to the listing of the Shares on a national securities exchange, he or she does not meet the minimum income and net worth standards established for making an investment in the Company or
cannot make the other representations or warranties set forth in the subscription agreement or other applicable enrollment form, he or she will promptly so notify the Company in writing. 

Participation in the DRP shall continue until such participation is terminated in writing by the Participant pursuant to Section 7
below. 
 3. Share Purchases. Any purchases of Shares pursuant to the DRP will be dependent on the
continued registration of the securities or the availability of an exemption from registration in the Participant’s home state. Each class of Shares under DRP will be initially sold at $9.025 per share until such time as the Company commences
valuations of its assets during the first full quarter following the satisfaction of the minimum offering requirement and, thereafter, at the price equal to the then current offering price per each class of Shares, less the selling commissions and
dealer manager fees associated with that class of Shares in the primary offering. Participants in the DRP may also purchase fractional Shares so that 100% of the Distributions will be used to acquire Shares. However, a Participant will not be able
to acquire Shares pursuant to the DRP to the extent that any such purchase would cause such Participant to violate any provision of the Operating Agreement. Shares issued pursuant to the DRP will have the same voting rights as the Shares offered in
the primary offering. 
 Shares to be distributed by the Company in connection with the DRP may (but are not required to) be
supplied from: (a) the DRP Shares which are being registered pursuant to the Registration Statement in connection with the Initial Public Offering, (b) Shares to be registered with the Commission after the Initial Public Offering for use
in the DRP (a “Future 







 
Registration”), or (c) Shares purchased by the Company for the DRP in a secondary market (if available) or on a securities exchange (if listed) (collectively, the “Secondary
Market”). Shares purchased on the Secondary Market as set forth in (c) above will be purchased at the then-prevailing market price, which price will be utilized for purposes of purchases of Shares in the DRP. Shares acquired by the Company
on the Secondary Market will have a price per share equal to the then-prevailing market price, which shall equal the price on the securities exchange, or over-the-counter market on which such Shares are listed at the date of purchase if such Shares
are then listed. If Shares are not so listed, the Board of Directors will determine the price at which such Shares will be issued under the DRP. 
 If the Company acquires Shares in the Secondary Market for use in the DRP, the Company shall use reasonable efforts to acquire Shares for use in the DRP at the lowest price then reasonably available.
However, the Company does not in any respect guarantee or warrant that the Shares so acquired and purchased by the Participant in the DRP will be at the lowest possible price. Further, irrespective of the Company’s ability to acquire Shares in
the Secondary Market or to complete a Future Registration for Shares to be used in the DRP, the Company is in no way obligated to do either, in its sole discretion. 
 4. Timing of Purchases. The plan administrator will make every reasonable effort to reinvest all Distributions on the day the cash Distribution is paid, except where necessary for the Company to
comply with applicable securities laws. If, for any reason beyond the control of the plan administrator, reinvestment of the Distribution cannot be completed within 30 days after the applicable distribution payment date,
Participants’ funds held by the plan administrator will be distributed to the Participants. 
 5. Taxation of
Distributions. The reinvestment of Distributions does not relieve the Participant of any taxes which may be payable as a result of those Distributions and their reinvestment in Shares pursuant to the terms of the DRP. 

6. Commissions. The Company will not pay any selling commissions or dealer manager fees in connection with Shares sold
pursuant to the DRP. The distribution fee is payable with respect to all Class C Shares, including Class C Shares issued under the DRP, and will result in lower cash Distributions with respect to the Class C Shares than the cash Distributions with
respect to Class A and Class I Shares. The Company will pay the plan administrator’s fees under the DRP. 
 7.
Termination by Participant. A Participant may terminate participation in the DRP at any time by written instructions to that effect to the plan administrator. To be effective on a distribution payment date, the notice of termination must
be received by the plan administrator at least 10 days before that distribution payment date. The plan administrator may also terminate any Participant’s account at any time in its discretion by notice in writing mailed to such
Participant. Prior to a listing of the Shares on a national securities exchange, any transfer of Shares by a Participant to a non-Participant will terminate participation in the DRP with respect to the transferred Shares. Upon termination of DRP
participation, future Distributions, if any, will be distributed to the Member in cash. 
 All correspondence concerning the
plan should be directed to the plan administrator by mail at DST Systems, Inc., P.O. Box 219312, Kansas City, MO 64121-9312. 

8. Amendment or Termination by the Company. The Company reserves the right to amend, suspend or terminate the DRP any time by the
giving of written notice to each Participant at least 10 days prior to the effective date of the amendment, supplement or termination. 
 9. No Share Certificates. The ownership of the Shares purchased through the DRP will be in book-entry form only. 
 10. Reports. The Company shall provide to each Participant a confirmation at least once every calendar quarter showing the number of Shares owned by such Participant at the beginning of the covered
period, the amount of the Distributions paid in the covered period and the number of Shares owned at the end of the covered period. During each fiscal quarter, but in no event later than 30 days after the end of each fiscal quarter, the
Company’s transfer agent will mail and/or make electronically available to each Participant, a statement of account describing, as to such Participant, the distributions received during such quarter, the number of Shares purchased during such
quarter, and the per share purchase price for such Shares. 
 11. Liability of the Company. The Company shall not be
liable for any act done in good faith, or for any good faith omission to act, including, without limitation, any claims or liability: (a) arising out of failure to terminate a Participant’s account upon such Participant’s death prior
to receipt of notice in writing of such death; and (b) with respect to the time and the prices at which Shares are purchased or sold for Participant’s account.