Power Purchase Agreements Make Energy Independence Affordable
Unpredictable utility costs and soaring rates are straining homeowners in Chico and across Northern California. Going solar reduces your reliance on grid power. But can you afford it? Financing solar panels for $0 down is the answer.
If it sounds too good to be true, we'll look at some current numbers and how OHM's solar financing works. It may be simpler than you think.
If you are ready to switch, here are more reasons to consider solar.
Generating your own electricity reduces your reliance on grid power. It can also let you take advantage of net metering, which means you essentially sell excess power back to the utility. Compensation is about $0.02 to $0.03 per kWh, according to the California Public Utilities Commission, which can add up.
Of all the financing options available, a solar Power Purchase Agreement (PPA) is perhaps the most affordable. It requires $0 upfront.
While the provider installs, owns, and maintains your solar system, you pay a locked per-kWh rate that's below what local utilities charge. You purchase the electricity produced, but the provider handles installation, permits, system monitoring, repairs, and maintenance.
With a PPA, you only pay for the power generated. It is the most affordable path to going solar.
Savings vary depending on utility rates and your exact PPA rate.
With a solar PPA, you pay for only the power you produce. It differs from other options such as a loan or a lease to finance solar panels. A solar lease versus a PPA lets you choose whether to pay out the total cost over time or not be responsible for paying it at all. Loans can come with high interest rates and strict terms.
A cash purchase grants you full ownership from day one. But you must have funds available to pay. It eliminates monthly installments, and while you avoid loan fees and interest charges, repairs and maintenance aren't covered as with a PPA. You would rely solely on the manufacturer's warranty or our workmanship warranty.
Northern California homeowners who stand to benefit most from a solar PPA include those who:
The contract details, stated plainly.
During a full solar consultation, we'll review your energy needs, utility bills, and electricity usage. Aside from determining if solar is right for your home, our team helps compare your investment options.
Every homeowner's financial situation is unique. The potential to save is significant, but the upfront cost isn't a barrier when you consider $0 down options like a PPA. We'll walk you through the details of every option based on your situation and goals.
With a Power Purchase Agreement from OHM, you don't need to invest much upfront to go solar. There's no fee except for the set rate per kilowatt-hour of electricity generated. We also offer access to leases and financing with $0 down, if you qualify.
A Power Purchase Agreement is one of the most popular solar financing options. If you are ready to switch to solar and are concerned about affordability, contact OHM to learn about our PPA plans.
