Best Solar Company in Highland Village

A solar power purchase agreement (PPA) is an agreement for financial transactions in which an outside solar developer manages, owns, and maintains the photovoltaic (PV) system and the customer agrees to purchase electricity from the system for a fixed price per kilowatt-hour (kWh) for a specific period of time. Solar PPAs are a common option for schools, businesses, and other organizations to make the switch to solar at a low to no upfront cost. While solar PPAs can provide substantial financial benefits, it is crucial to be aware that you’ll be losing some of the advantages that come with owning your own solar power system. For example, you will not be able to take advantage of tax credits for solar and other benefits, and you will not be in a position transfer excess energy back to the grid. In addition, you may be subject to annual price increases, as well as fees for early termination should you opt to end the contract before the end of the agreement. This is why it’s important to carefully consider all of the pros and cons of solar PPAs before entering into one.