General Information and Structure
The Solar Power Purchase Agreement (PPA) allows building owners to experience the benefits of solar energy without the responsibility of owning or maintaining a solar PV system. Through the Solar PPA program, building owners can buy the energy they need with no monthly fee and benefit from significant savings on electricity costs. Under a Solar PPA, the electricity rate is immediately less than existing utility bills, so owners begin saving money on day one. The solar system is installed, insured and maintained as part of the PPA contract for 20 years. Connecticut Green Bank provides full warranty management on all equipment. Multifamily property owners have the option to purchase their installation after 5 years. When the agreement term ends, the owner can extend the PPA, purchase the system, or have it removed at no cost.
