One of the biggest obstacles preventing people from going solar is the upfront cost, which is often significant and can be prohibitive to those who can't afford it. AllEarth has long recognized the need for alternative solar solutions for these customers: when we first began selling trackers, it was almost exclusively as part of a statewide power purchase agreement (PPA) program, through which we installed over 660 trackers and helped hundreds of Vermonters go solar by following the sun. It was the success of this early program that has inspired us to launch a brand new PPA program for the state of Vermont.
What is a Power Purchase Agreement?
A PPA is, simply, a contract between a financer and a solar customer. The financer owns a solar system installed on a customer's property; the customer, in return, pays a fixed monthly amount (based on price per kWh for power generated) to the financer while using the energy produced by the system to power their home. These agreements are set for a set length of time, typically up to twenty years, and will usually include full operations and maintenance responsibilities on the part of the financing company.
What Are the Benefits of a Power Purchase Agreement?
PPAs eliminate many of the issues that can arise when purchasing solar. While purchasing solar is widely understood to be a smarter financial decision and will ultimately provide the best return on investment, power purchase agreements give more customers the ability to take their energy future into their own hands. PPA customers can enjoy all the benefits of going solar and producing their own clean energy without the responsibilities of system maintenance, the complications of figuring out loans and tax credits, and the burden of a significant upfront investment. Depending on system size and energy use, PPA customers will typically see lower energy bills or even receive credits from their utility if the system produces more electricity than they use. It's also a great way to control your future energy costs--with rising, and often unpredictable, electricity rates forecasted for the near future, locking in a low rate for up to twenty years is a smart choice.
What Sets the AllEARTh PPA Apart?
We're the only company in Vermont providing these types of agreements to our customers. We work with a fantastic network of authorized dealer partners across the state, who will work with customers to design a system that works best for their energy needs and property layout, and will perform a one-day tracker installation. AllEarth PPA customers will lock in a low energy rate and will be offered a buyout option at year five, which will allow them to buy their tracker(s) at fair market value if they choose to do so. We'll monitor every PPA customer's annual energy production, and take care of all maintenance responsibilities--so all you have to do is sit back, relax, and enjoy your solar-powered home.