Solar PPA Leasing
A PPA solar lease is available in many states such as Maryland, Pennsylvania, DC and now in Delaware. Virginia does not have a PPA solar lease available for homeowners, only purchase or loan. A PPA lease is similar to paying your utility, just less expensive by around 25%-35% a month. A PPA allows you to simply pay for kwhs produced by the solar system at a less expensive rate than your local utility is charging. This is a non-ownership program so you don’t get the incentives directly, the financier of the program does and they pass those incentives into the savings on your kwh rate. On average if you currently pay around $250 a month for electricity, with a PPA you may pay around $160 instead. We can see if this is a good fit for you and your home. This is also great for those that may not pay any federal taxes and can’t take advantage of the 30% Solar Federal ITC. Another great thing with a PPA is that one can purchase the system at fair market value after year 5! So it can be a good way to get into solar, save money immediately and then one day in the future buy it outright and own it. And if you were to sell your home, the future owner could then buy out the PPA and own it.
Savings, flexibility, peace of mind.
What is a solar PPA lease?
A solar PPA, also called a Power Purchase Agreement (PPA) is typically a 25-year agreement where a homeowner agrees to purchase power from the solar panels on the roof provided by the PPA lease provider, at a lower cost (typically 30% less than your current utility company) in exchange for installing solar panels on your home. The lessor or owner of the system also receives all incentives and not the homeowner.
A PPA lease is similar to purchasing electricity from your current utility. The main difference is you typically pay about 30% less than your utility. Unlike your utility company, which is subject to unpredictable rate increases as we have seen in 2022 and especially 2023, with a PPA lease you can lock in a rate with predictable annual increase (usually around 2.9%). There are other options available with lower rate increases, 1.9% or even 0% fixed.
With Solar Brokers, you can learn more about a solar PPA lease from the comfort of your home. We provide both leasing and purchasing options, talk with our team to learn more and decide which is right for you.
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No upfront costs
With a solar PPA lease, there are zero upfront costs. Insurance is paid by financier.
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A lower bill immediately
With a solar lease, you typically pay around 30% less than your current utility company.
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No maintenance
Since you are leasing the system, you have no maintenance or repair responsibility for the full 25 years. Even the insurance is covered on the system in case mother nature throws something at it.
Solar PPA Lease Key Info
Option to purchase the system anytime after year 5 at fair market value.
As having access to one of the best solar leasing companies, Sunnova, we offer PPA leases with zero upfront costs and the best rates available.
Zero ownership of the system means you are not responsible for any maintenance or insurance. The lessor will fix any problems at no charge, the system is guaranteed for 25 years!
Our solar PPA program offers a guaranteed kWh rate for 25 years. Lock in a low rate to avoid rising energy costs.
Easily transferrable to the next homeowner when selling your home.