A solar program provided by Vivint Solar is providing a new solar system to consumers with no out of pocket expenses and a flat low rate electric bill each month. How is this possible, you may ask?

          This is because it is a Solar Power Purchase Agreement (PPA) program. A (PPA) is a financial agreement where a developer (Vivint) arranges for the design, permitting, financing and installation of a solar energy system on a customer’s property at no cost. This type of program has been around for some time, being very popular when solar systems were just coming out in the mainstream. It allowed homeowners to install solar systems to their home when the technology was very new and expensive. Today, with a view to make solar energy available to everyone Vivant is bringing this program back to the forefront.

           Vivint will install a new solar system on the home; it will be properly permitted and professionally installed. You will pay a set priced electricity bill each month to Vivint that is at least 20% lower than your current electric bill and will not increase for the next 20 years.  

          How do they make money? Vivant sells the power generated to you at a fixed rate and receives the income from these sales of electricity as well as any tax credits and other incentives generated from the system. PPAs similar to solar leases in that the developer remains responsible for the operation and maintenance of the system for the duration of the agreement. Any maintenance or repair will be the responsibility of Vivint and will not cost you a dime. If you need a new roof during the agreement they will remove and reinstall the unit at no cost.  At the end of the PPA contract term, you can choose to extend the PPA and have a new unit installed for free or remove the system. If you plan to sell the PPA can be transferred or removed at no cost.

 Just as with any work or program, you should always research the info and way your options. Is purchasing solar a better option than leasing or a PPA, only you can make that decision. For more information you can visit the Solar Energy Industries Association website https://www.seia.org/initiatives/solar-customer-resource-portal and to see if you qualify for the program please contact Jonathan, a Vivint representative, at 909-912-2165.

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