PHNX Comprehensive Analysis
PHNX Power will run a free comprehensive analysis on your current electric bill and see if your home will benefit most from this program. We encourage all customers to schedule an appointment and participate in their system's engineering.
POWER PURCHASE AGREEMENT (PPA)
The PPA is a unique program that helps homeowners reap the benefits of solar without having to go into debt or worry about a lien on their home. The solar panel system is owned by a third party group of investors that sell electricity to homeowners at a flat, lower rate than their local utility company. Ownership responsibility and maintenance are their concern, not yours. This equates to cheaper power for you without the expense of paying for the system.
How PPAs Work
A federal initiative gives financial institutions with invested funds a 26% tax credit for installing renewable energy systems. These financial institutions are able to utilize the tax credits in a multi-million dollar way. These investors of renewable power then sell electricity to homeowners at a flat lower rate than the previous utility. Take a look at the following example.
Story of Jack and Jill
Google purchased $30,000 in solar panels and placed them on Jack and Jill's roof. Google immediately received a $7,800 tax credit for their investment in renewable energy. Now, to recoup their investment, Google sells Jack and Jill the electricity produced by the solar array at 20-60% less than the utility. Google makes their money back in 7-9 years during which time Jack and Jill and little Johnny go on a family vacation with the savings.
Why Make the Change?
PPAs are a great way to reduce your utility bill without having to go into debt. There’s no lien on your property, so you don’t have to worry when you sell your home. Why pay more for electricity with your local utility when you can start saving more?