Overview
Solar PV systems are financially viable today and Solect works with customers as part of its Feasibility Assessment to determine the most appropriate funding option. Various factors exist which make the systems financially attractive – competitive solar panel costs, federal tax incentive and grants, and state initiated Solar Renewable Energy Credit (SREC) programs all contribute to the total cost of ownership benefits. Solect customers can choose to own the systems outright and maximize these benefits using their own capital or they can choose to avoid a capital outlay but still take advantage of these incentives and programs by utilizing a Power Purchase Agreement. Owning the system typically results in a 5 -7 year payback and then "free" electricity for the next 20 years while a Power Purchase Agreement has a reduced and controlled electric payment from day 1.