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:
“A seashell should be the crest of England, not only because it represents a power built on the waves, but also the hard finish of the men. The Englishman is finished like a cowry or a murex.”
—Ralph Waldo Emerson (18031882)
“O, let us have him, for his silver hairs
Will purchase us a good opinion,
And buy mens voices to commend our deeds.”
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—Malcolm Muggeridge (19031990)