Best Solar Company in Bonham

The solar power purchase contract (PPA) is a financial agreement in which a third-party solar developer manages, owns, and maintains its solar photovoltaic (PV) system, and a customer is obligated to purchase power from the system at a fixed price per kilowatt-hour (kWh) during a specific period of time. Solar PPAs are a common option for schools, businesses and other entities to make the switch to solar at a low to no upfront cost. While solar PPAs may provide significant financial advantages, it’s crucial to be aware that you’ll lose certain benefits that come with owning your solar power system. For instance, you’ll not be able to avail of tax credits for solar or other incentives, nor will you be able for selling excess electricity to grid. In addition, you may be in the midst of annual price hikes, as well as early termination charges in the event that you decide to terminate the contract before the end of the term. This is why it’s crucial to consider all of the advantages and disadvantages of solar PPAs prior to entering into one.