For many, installing a solar energy system on their roof has been a bit out of reach. Sure, it will likely pay for itself in time, but coming up with the money to purchase the system or qualifying for financing is just not that easy.
Now, in Florida, there is another way.
The Florida Public Service Commission has now unanimously voted that a lease agreement does not amount to a retail sale of electricity. The short version – you can now lease a rooftop solar system in Florida without violating state utility regulations.
Instead of owning the system, you can now sign a power purchase agreement (PPA) which means you can use the system to generate electricity and power your home, but you are not responsible for maintenance and repair of it.
While you don’t have to pay for the system, signing a PPA also means you will miss out of the state and federal tax credits for installing a solar energy system.
It is a tradeoff, but for many, it is also the difference between possible and not possible. What PPAs essentially do is make solar energy systems available to the masses, and in doing so, further promote the shift to more sustainable energy options.
According to Chief Marketing Officer for Sunnova Energy Corporation, Michael Grasso the Commission’s decision marked a turning point in the solar market, and in doing so upheld an important belief – that consumers and markets should be allowed to decide the best possible energy solutions for their needs.
Even better, when customers do sign a PPA through Sunova, they have the option to either purchase the system when the lease expires (typically in 20-25 years) or to simply renew it.
If the goal is to become more sustainable, what PPAs do is put that goal within reach for us all. It is just one more step toward a better, and cleaner, future.
This article is brought to you by Blue Sky Solar and Roofing, a solar and roofing restoration company with offices in Dallas, Texas, and Denver, Colorado. Blue Sky specializes in solar roofing, sustainable roofing options and excellent customer service.