The most common options are 1) buying the system, 2) leasing the system, or 3) signing a Power Purchase Agreement (“PPA”). If you lease or sign a PPA, you don’t own the system, but you get many of the benefits. For more information visit the CESA website. When deciding on the best option for you, consider:
- If you’re buying the system, how much will it cost? Will you take out a loan to pay for it? How do the loan payments compare to projected reductions in your monthly electric bill?
- If you’re leasing, how much is your monthly lease payment? How does that compare to projected reductions in your monthly electric bill? Do you have to put money down at the start?
- If you’re signing a PPA, how much is the per kilowatt hour price for the energy produced? How does that compare to your current electricity rate? Do you have to put money down at the start?
- Does your lease or PPA include an escalation clause that increases the amount of payments over time? If so, by how much do payments increase?