Does power company buy your solar power

What is a solar power purchase agreement?

Solar is an umbrella term for all sorts of solar energy arrangements. A solar power purchase agreement is an arrangement in which a solar company installs a renewable energy system on a home and maintains ownership of the system, but sells the power generated by it to the homeowner at a desirable low rate.

Do I need a PPA to buy a solar system?

With a PPA, you won't own your solar panel system. This means that solar incentives you'd be eligible for with a solar loan option (like the federal investment tax credit (ITC), solar renewable energy certificates, and any local rebates) go straight to the solar company/financier that made the upfront investment in the system.

Should you lease or buy a solar system?

The benefit of leasing—usually a 20-year commitment—is that you put no money down. Your energy bills are instantly lower, based on a formula the solar provider devises. Maintenance is handled by the solar company as well. Typically you pay a set monthly amount for electricity— regardless of how much power your system produces.

Does going solar cost a lot?

Thanks in part to Solar Energy Technologies Office (SETO) investments, the cost of going solar goes down every year. You may be considering the option of adding a solar energy system to your home’s roof or finding another way to harness the sun’s energy.

How do you sell excess solar power?

Sale of your excess electricity. In a handful of states, solar-home owners can arrange to sell their excess power to utilities. They sign up with a marketplace that assigns the excess electricity a certain number of solar renewable energy certificates (SRECs); those SRECs are then traded in a marketplace with fluctuating prices.

Can I get a rebate if I buy a solar system?

Your electric utility, as well as certain installers and manufacturers, also may offer rebates for buying and installing a system. Sale of your excess electricity. In a handful of states, solar-home owners can arrange to sell their excess power to utilities.