We aim to make solar affordable

 

 

Sunspot Energy is working to establish relationships with investment partners, to enable us to provide home owners, businesses and public entities with solar energy with zero capital expenditure for the customer.

Solar financing options

1.Cash Purchase

The Client purchases and owns the system directly. Payment is made progressively

2. Power Purchase agreement (PPA)

A PPA is a financing arrangement which allows you (the customer) to purchase solar electricity with no upfront capital cost. To achieve this, you (customer) provide unused rooftop, land or parking lot as location for solar installation. The PPA provider pays for the cost of solar installation and assumes all responsibility for ownership, operation and maintenance.

Once the project is complete, the customer enters into an agreement to purchase the electricity produced from the system at a predetermined cost per kilowatt-hour. We aim to ensure that the cost of purchase is cheaper than that of your utility service provider (KPLC). Once the PPA contract period expires, (after 10 – 20 years), you (customer can purchase the system at a reduced price, initiate another PPA, or have the installation removed.

Benefits of PPAs

  • The customer does not need to have initial capital investment since they pay only for the solar produced.
  • Fixed cheaper energy prices. This enables the customer to make outright savings in cost of electricity and also provides a powerful hedge against volatile electricity prices.
  • No responsibility for system operation and maintenance as this is upto the PPA provider

Benefit from solar tax credits.

3.Lease/Debt agreement -

 In this arrangement, the customer leases the solar equipment to generate energy, in exchange for monthly lease payment. At the end of the lease payment, (typically 7 – 10 years), the system ownership transfers to the customer.

Benefits of solar leases

  • Little or no initial capital investment
  • Protection against volatile electricity prices
  • Savings on electricity costs. You get to own the system after the lease period is over.