Power Purchase Agreement
In 2006 investors began offering free solar panel installation in return for a 25 year contract, or Power Purchase Agreement, to purchase electricity at a fixed price, normally set at or below current electric rates. By 2009 over 90% of commercial photovoltaics installed in the United States were installed using a power purchase agreement. Approximately 90% of the photovoltaics installed in the United States is in states that specifically address power purchase agreements.
Read more about this topic: Solar Energy In The United States, Incentives, States and Local
Famous quotes containing the words power, purchase and/or agreement:
“The chief function of the city is to convert power into form, energy into culture, dead matter into the living symbols of art, biological reproduction into social creativity.”
—Lewis Mumford (1895–1990)
“O, let us have him, for his silver hairs
Will purchase us a good opinion,
And buy men’s voices to commend our deeds.”
—William Shakespeare (1564–1616)
“Truth cannot be defined or tested by agreement with ‘the world’; for not only do truths differ for different worlds but the nature of agreement between a world apart from it is notoriously nebulous. Rather—speaking loosely and without trying to answer either Pilate’s question or Tarski’s—a version is to be taken to be true when it offends no unyielding beliefs and none of its own precepts.”
—Nelson Goodman (b. 1906)