Power Purchase Agreement / Financing
Sunetric's Power Purchase Agreement, or PPA, is a long-term financing agreement that gives businesses, non-profits, government entities and municipalities the option of going solar without having to purchase, install or maintain equipment.
PPA Benefits
- Zero out-of-pocket investment
- Zero maintenance responsibility
- Reliable renewable energy
- Lock in solar prices and save on your power bill every month
- Demonstrate your commitment to social environmental responsibly
- Maintain your connection to utility though net metering
How a PPA Works
You enter a Sunetric Power Plan Agreement for a period of 15 to 20 years. Sunetric Capital then finances, designs and builds a solar energy array on your site and generate reliable, long-term clean energy for your facility. Sunetric Capital assumes the risks and responsibilities of ownership. We clean the solar panels regularly, provide preventative maintenance services, make necessary repairs, and monitor the energy production. You pay your monthly power bill to Sunetric Capital for a discount rate compared to the utility company and run your business as usual, while saving money, reducing Hawaii's dependency on imported petroleum and helping to protect our planet's environment.About Net Metering
Net metering is a system between you and the electric company that accounts for how much electricity your company adds to or takes from the power grid. When the rooftop system generates more than your company uses, the extra is exported into the grid and your electric meter literally runs backwards. When your company pulls power from the grid, your meter logs your use. At the end of the year, the electric company charges you for the difference. The utility also charges you a small monthly interconnectivity fee, around $20, to have net metering.
Your solar system will be sized to meet “at or below” your electricity current needs, and not exceed them. This is because any extra electricity created is not bankable into the next year and the electric company does not pay you for the extra power.