Best Solar Company in Highland Park

The solar power purchase contract (PPA) is a financial agreement in which the third-party solar developer is the one who owns, operates, and maintains its solar photovoltaic (PV) system, and a customer agrees to purchase power from the system at an agreed-upon price per kilowatt hour (kWh) for a specific period of time. Solar PPAs are a common way for businesses, schools, and other organizations to make the switch to solar at a low to no upfront cost. While solar PPAs may provide significant economic benefits, it’s important to understand that you’ll lose some of the advantages which come with having your own solar power system. For instance, you won’t not be able to take advantage of solar tax credits or other incentives, and you will not be allowed to sell excess power back to the grid. Furthermore, you may be subject to annual price increases and also early termination charges should you opt to end the agreement prior to the expiration of the agreement. This is why it’s important to carefully consider all the advantages and disadvantages of solar PPAs before signing one.