Benefits of power purchase agreements and leases
- The third-party owner is responsible for repairing or replacing any system components (solar panels, batteries, inverters, etc.) that fail.
- The third-party owner of the system carries insurance that replaces the system if it’s damaged due to natural disaster.
- Third-party ownership models allow individuals and organizations to go solar without any money paid up-front.
- The third-party owner is responsible for maintaining the system for the length of the contract.
- If the homeowner is unable to directly take advantage of federal or state tax credits or other incentives, in this model the third-party owner company takes the incentives and passes some of the incentive-related savings on to the customer, incorporated into the monthly fee.