If you have ever thought about going solar but have no interest in paying upfront costs to own and maintain solar panel installation, a Purchase Power Agreement (PPA) could be right for you.
Solar PPAs allow you to purchase clean, renewable, affordable solar energy and use it to power your home or business, while a third party manages, owns and operates the necessary equipment.
What a PPA Means For You
NO COST solar! There will never be a lien on your property, and the company that owns the system takes care of the maintenance. You are reducing your dependence on your local utility company, and you start saving from Day 1. You get clean, affordable energy at a rate lower than your electric company. For homeowners, this means the solar panels and clean solar energy help you reduce your carbon footprint and save money.
With a PPA, you only pay for the energy you use, and at a lower rate per kilowatt than your paying now with the electric company. If you want immediate results and savings every month, or if you want your roof replaced at no upfront cost, a PPA might be right for you.
What a PPA Means for the Third-Party Solar System Owner
Third party solar companies, also known as a Solar Services Provider, who owns the system gets to claim tax benefits and other incentives, and they’re benefitting from selling the energy their systems generate. Often this means they benefit through tax incentives and have a guaranteed buyer for the energy their system is generating. They’re also using your space for these panels, eliminating the need to buy land or have available roof space of their own.
There are many options to help you go solar, and with a PPA, you don’t even need to own the system to generate clean energy and reduce your reliance on the electric grid.