Best Solar Company in Murphy

The solar power purchase contract (PPA) is an agreement for financial transactions in which an outside solar developer manages, owns, and manages the solar photovoltaic (PV) system, and a customer accepts to buy energy from the system at the fixed rate per kilowatt-hour (kWh) over a predetermined duration. PPAs with solar are a popular method for schools, businesses as well as other institutions to switch to solar power with minimal to no upfront expense. Although solar PPAs can offer significant economic benefits, it’s important to understand that you will be relinquishing certain benefits associated with owning your solar PV system. For example, you will not be able to avail of tax credits for solar as well as other incentive programs, and you will not be in a position for selling excess electricity to grid. Furthermore, you may be susceptible to price increases every year, as well as early termination fees in the event that you decide to terminate the contract before the end of the contract. This is why it’s essential to take a careful look at all the advantages and disadvantages of solar PPAs prior entering into one.