Power Purchase Agreements (PPA)
A Power Purchase Agreement is a financing solution for customers who do not want to make the initial capital expense for a solar energy system or who are unable to take advantage of tax credits and other incentives. In a PPA, the system is financed, owned and maintained by a third party. This party also owns the RECs and benefits from any state rebates, tax credits or depreciation. You, as the facility owner, provide the host site and purchase the metered output of the system at rates that are typically fixed for a long period of time. Over time, this arrangement is more economical than purchasing electricity from the utility. For more information on PPAs, contact the GreenBrilliance office.
Renewable Energy Credits (RECs)
Did you know that utility companies are required to generate a certain percentage of their power through renewable means? This is called the Renewable Portfolio Standard (RPS). Utilities meet this requirement by purchasing Renewable Energy Credits (RECs) through aggregators and private solar electric system owners. A system on your facility will produce a certain number of RECs per year which can be traded on the open market to help offset the costs of owning that system. In Maryland, the mechanism for selling RECs on the open market is currently being created by the Public Service Commission. Watch this site for updates.
Protect Against Rising Utility Rates
Businesses have seen electricity rates spike over the last 5 years. If utility bills are a significant portion of your overhead than large increases in electricity costs can affect the viability of your business. Installing your own solar power can reduce or eliminate your exposure to rising electricity rates. The portion of your usage that is generated on site will no longer be subject to increases in electricity rates.
Reduce Operating Costs
A solar power system can reduce or eliminate your building’s electric bill. Installing a solar power system is equivalent to prepaying for 40 years of power at a fraction of the cost you are currently paying. The cost/unit of energy you are currently paying is already higher than what you would be paying with solar. As rates increase this difference will only increase, which will result in further savings over the life of the system.
Take Advantage of Government Rebates & Tax Credits
Designed to encourage businesses to generate their own solar power, these programs can pay for up to 70% of the total system cost. These programs include direct rebates, tax credits, loan programs and other financial incentives.
More about Government Incentive Programs: www.dsireusa.org
Good Return On Investment (ROI)
Government incentives combined with recent decreases in solar equipment prices, make the investment in solar power a good financial decision for businesses and public agencies. An investment in solar power can generate quick payback as well as long-term savings.
Long Term Reliability & Low Maintenance Costs
Photovoltaic Panels are virtually no maintenance. Once installed, the solar power system requires little or no maintenance (especially if no batteries are used), and will provide electricity cleanly and quietly for 25 to 40 years. Our solar panels carry a 25-year manufacturer warranty on their production.
Become A “Green” Business
Generating electricity from solar energy means less consumption of fossil fuels, reducing pollution and greenhouse gas emission. By switching to solar power your company will be doing its part to combat global warming, and reduce our nation’s dependence of foreign energy sources. Being a green business can, not only reduce your operating costs, but can be a great source of public relations and a good marketing tool. There are a growing number of consumers who make their buying decisions based on the perceived environmental responsibility of the vendor.
Find out if solar is right for you. Contact us to get a free quote. firstname.lastname@example.org.