Best Solar Company in Allen

An agreement to purchase solar energy (PPA) is a financial agreement in which a third-party solar developer is the one who owns, manages and maintains its solar photovoltaic (PV) system and a client is obligated to purchase power from the system at a fixed price per kilowatt-hour (kWh) for a specific period of time. Solar PPAs are a popular method for schools, businesses and other entities to make the switch to solar at a low or no upfront costs. Although solar PPAs can offer substantial financial benefits, it is important to understand that you’ll be losing many of the benefits which come with having your solar power system. For instance, you’ll not have the opportunity to take advantage of tax credits for solar and other benefits, nor will you be in a position to sell excess power to the grid. In addition, you may be subject to annual price increases and also fees for early termination should you opt to end the contract before the end of the agreement. Therefore, it’s crucial to consider all of the pros and cons of solar PPAs prior to signing one.