The value of the solar system depends on how much you pay for electricity now and how much solar service is willing to pay you after some years. To get renewable solar electricity by solar panels, you can enroll in the solar power purchase agreement for leasing the solar system in profit.
Whats a power purchase agreement?
In a power purchase agreement (PPA) you can rent a solar panel system from a solar provider. Solar panels are installed and serviced free of charge, but you don't have a system to increase the value of your property.
The homeowner signs a 20-year contract that allows him to buy electricity from a supplier at a price lower than the current electricity bill. Depending on whether you have a home or not and whether you want to invest in a large system, this can be an excellent alternative to buying an expensive trading system.
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Depending on where you live, your energy provider pays you wholesale or retail prices for your electricity. With excess electricity, you can benefit from the electricity produced.
The amount of sunlight that your location receives depends on various factors, including climate, cloud cover, and the amount of pollution that sunlight can spread before it reaches your panel.
The payback period for a typical 2 kWh system, which costs $ 20,000 before financial incentives, can be up to 15 years. Of course, it all depends on the price of the material and your location.