Best Solar Company in Irving

The solar power purchase contract (PPA) is an agreement for financial transactions in which a third-party solar developer owns, operates, and maintains the solar photovoltaic (PV) system, and a customer is obligated to purchase energy from the system at the fixed rate per kilowatt-hour (kWh) for a specified period of time. Solar PPAs are a common way for businesses, schools, and other organizations to switch to solar power with minimal to no upfront expense. While solar PPAs may provide significant financial benefits, it is important to understand that you’ll lose certain benefits associated with owning your own solar power system. For instance, you’ll not have the opportunity to take advantage of tax credits for solar and other benefits, and you will not be allowed transfer excess energy back to grid. Furthermore, you may be subject to annual price increases, as well as fees for early termination if you choose to cancel the agreement before the end of the agreement. Therefore, it’s essential to take a careful look at all of the advantages and disadvantages of solar PPAs prior to entering into one.