Best Solar Company in Midlothian

The solar power purchase contract (PPA) is a financial agreement in which a third-party solar developer manages, owns, and manages its solar photovoltaic (PV) system and the customer is obligated to purchase energy from the system at the fixed rate per kilowatt-hour (kWh) for a specified duration. Solar PPAs are a common option for schools, businesses and other entities to go solar with little to no upfront expense. While solar PPAs may provide significant financial benefits, it is important to understand that you will be relinquishing some of the advantages associated with owning your own solar PV system. For instance, you won’t not be able to avail of tax credits for solar as well as other incentive programs, and you will not be allowed for selling excess electricity to grid. Furthermore, you may be in the midst of annual price hikes and early termination charges should you opt to end the contract before the end of the agreement. This is why it’s crucial to consider all the advantages and disadvantages of solar PPAs before signing one.