Are you ready to solarify your home or business at almost no cost? – PPA for Solar
This idea is truly exciting. If you want to add solar energy to your household or business, this idea is what it takes. You will be able to enjoy all the benefits of solar energy with no set-up cost. And in case your location provides net metering, you will be compensated for any extra electricity that you produce and send to the grid.
- You save on current electricity bills
- You have a solar system installed for electricity
- For every extra electricity you produce through solar and send back to the grid, you are compensated by DISCOMs
How does PPA for solar work:
This is done through what is called a solar power purchase agreement or PPA. PPA is a financial agreement between a consumer and an investor who invests in the solar equipment to be installed on the consumer’s property.
There are primarily 3 players in the complete implementation of the idea.
Why is this a workable idea –
This is a workable idea because it is profitable to all the parties involved.
Profit to the Consumer:
- Savings on the current electricity cost.
- Shield from any electricity price hikes.
- Increase in property value – Installation of solar systems boosts the property value. According to the PPA agreement, the consumer is allowed to buy the equipment from the investor after a period of time. Hence this idea is very attractive for consumers for the all-round benefit it provides.
Profit to the Investor:
- Extra income for the investor – After approximately 3 to 4 years the investor recovers his investment. The consecutive monthly payment, henceforth, by the customer is just profit.
- Tax benefits – The benefits and tax savings provided by the government for using renewable energy source goes directly to the investor.
Profit to the Developers:
- The developer adds to his business as he sources the equipment for installation to the investor.
Are you looking for a solar system set up at your property? Would you like to know how much money you can save using solar power?
You can contact us here and we will guide you with details on investors for your solar set-up and other PPA formalities.