Best Solar Company in Lake Worth

A solar power purchase agreement (PPA) is an agreement for financial transactions in which an outside solar developer owns, operates, and manages its solar photovoltaic (PV) system and a client accepts to buy power from the system at the fixed rate per kilowatt-hour (kWh) during a predetermined duration. Solar PPAs are a common option for schools, businesses and other entities to switch to solar power with minimal to no upfront cost. Although solar PPAs can offer substantial financial advantages, it’s crucial to be aware that you’ll be losing many of the benefits which come with having your own solar panel. For instance, you won’t not be able to avail of solar tax credits and other benefits, nor will you be allowed for selling excess electricity back to grid. Additionally, you could be susceptible to price increases every year and early termination fees if you choose to cancel the contract before the end of the term. Therefore, it’s crucial to consider all of the advantages and disadvantages of solar PPAs before entering into one.