Best Solar Company in West Tawakoni

A solar power purchase agreement (PPA) is an agreement for financial transactions in which the third-party solar developer is the one who owns, operates, and maintains the solar photovoltaic (PV) system, and a customer is obligated to purchase electricity from the system for a fixed price per kilowatt-hour (kWh) during a specified duration. Solar PPAs are a common method for schools, businesses, and other organizations to make the switch to solar at a low to no upfront expense. Although solar PPAs can offer significant economic benefits, it’s essential to realize that you’ll be losing many of the benefits which come with having your solar PV system. For example, you will not have the opportunity to take advantage of solar tax credits as well as other incentive programs, and you will not be in a position for selling excess electricity back to grid. Additionally, you could be subject to annual price increases and early termination charges if you choose to cancel the contract before the end of the term. This is why it’s important to carefully consider all of the advantages and disadvantages of solar PPAs prior entering into one.