13/05/2021
We turn sunshine to clean electricity with our solar agreement (also known as energy purchase agreement) EPA upto 1 MW.
What is a solar (EPA) energy purchase agreement?
A EPA is a financing arrangement that allows businesses, residential customers, residential community, as well as government agencies and power utility sectors to purchase solar electricity with no upfront capital cost. You buy the energy, not the solar equipment upto 1 MW. It’s a great way to get the benefits of solar without having to take on the responsibilities of being a solar system owner.
A third-party EPA provider pays for the cost of a solar installation on or near the customer’s facilities (like a rooftop, parking lot or unused land). The provider takes responsibility for ownership, operation and solar panel maintenance. The customer simply enters into an agreement to purchase the electricity produced by the system at a predetermined rate per kilowatt-hour (kWh), the same unit of measurement as their standard utility bill.
A Solar EPA means you are buying the solar electricity produced by the system, rather than buying the system itself. This means that you only pay for what the system produces – you receive a monthly electricity bill just like your normal electricity provider.
EPAs allow a developer to arrange for the design, permitting, financing, and installation of a solar energy system on a customer’s property at little to no upfront investment cost to the customer. It’s common for developers to sell the power generated to the customer at a fixed rate. This fixed rate can be lower than the local utility’s retail rate, and therefore can save customers money without having to put down any capital upfront. A typical EPA agreement might run 15 to 30 years.