Posted Tuesday, June 20, 2017
Solar Costs Continue to Drop in 2017
In a recent USA Today article, a new Solar Energy Industries Association (SEIA) report was cited, showing that the cost for PV solar panels and components has dropped by 60% in the past ten years. What’s more, this trend isn’t changing. The truth is that solar power has never been less expensive to install than it is now, and that obviously has the media taking notice. This fact alone should be enough to convince home and business owners to make the move to solar, especially if they’ve been putting off the decision until prices drop.
What many property owners don’t know is that there is more than one way to pay for a solar power generation system. Firstly, there is the ‘own outright’ option, something that is worth considering if you want to have full ownership of the entire solar system. This is worthwhile for home or business owners who have an allocated budget for solar and who are confident in their financial ability to fund the project without creating too much discomfort for the pocketbook.
Alternative to this is the PPA option. PPA stands for Power Purchase Agreement, and it’s an agreement between a property owner and the power company. A PPA allows the property owner to begin realizing the benefits of solar power without the large capital investment requirement. Instead, the property owner agrees to pay the power company a fixed amount per kilowatt-hour generated by the system. This kind of symbiotic relationship allows both the power company and the consumer to benefit without too much risk exposure on either side.
Knowing the ins and outs of solar power takes expertise and a history of proven success. Urban Solar is ready to guide you through the process of designing, buying, installing and maintaining your next solar power system. Whether large or small, we have the professional staff required to ensure that every project is a success. It all starts with a complimentary energy assessment, so contact us today and let’s get started.