When considering an on-site solar installation for your business, you’ll want to start exploring what options are available to finance the investment.The three most common options are: a power purchase agreement (PPA), long term lease, and outright purchase.
Beginning in 2007, the PPA option has become the most commonly selected*, allowing businesses to host solar systems and purchase solar energy with no upfront costs.
- In talking with Jeff Blankman, manager sustainable manufacturing, McCormick & Co. about choosing a PPA with Constellation Energy for the installation of 2,100 Solar World 175 watt crystalline solar panels and 92,00 square feet of lightweight, flexible thin-film photovoltaic materials at his company he felt, “Most long-term projections on energy costs show them outpacing inflation, so our cost savings will likely increase over time, further increasing the value of the project.”
Here are some PPA quick facts:
- You work with a solar provider to install the panels on-site
- You purchase the energy created by the system from the provider, who owns, operates and maintains the system
- You have the option to purchase the system during or at the end of the PPA contract
* http://www.gtmresearch.com/report/solar-power-services-how-ppas-are-changing-the-pv-value-chain/
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