Best Solar Company in Addison

The solar power purchase contract (PPA) is a financial agreement in which the third-party solar developer is the one who manages, owns, and maintains the photovoltaic (PV) system and a client agrees to purchase energy from the system at the fixed rate per kilowatt-hour (kWh) over a predetermined period of time. Solar PPAs are a popular way for businesses, schools and other entities to switch to solar power with minimal to no upfront expense. Although solar PPAs can offer significant economic benefits, it’s essential to realize that you’ll be losing many of the benefits which come with having your solar panel. For instance, you’ll not be able to take advantage of tax credits for solar as well as other incentive programs, and you will not be in a position for selling excess electricity to the grid. Furthermore, you may be susceptible to price increases every year, as well as fees for early termination in the event that you decide to terminate the contract before the end of the contract. As such, it is important to carefully consider all the pros and cons of solar PPAs prior entering into one.