A US solar power company, new to solar but not new as a company, is offering exactly the kind of deal that GallonDaily encourages and likes to promote. Under a Power Purchase Agreement approach pioneered by Vivint Solar, home owners can have a solar system installed on the roof of their home at no upfront cost. The Company retains ownership of the system, agreeing to design, install, and maintain the system at no cost to the homeowner. The homeowner agrees to purchase the power generated, at a cost of 20% to 30% less than is available from the local utility. The solar panels are sized to meet about 80% of the home’s electricity needs and the agreement has a 20 year term.
Unfortunately for Canadians, the scheme is apparently so far available only in New York, New Jersey, Utah and Hawaii, but Vivint says that it hopes to go nationwide (US) fairly soon. We Canadians might yet be lucky – the photovoltaic panels which Vivint is using are reported to come from Canadian Solar, a Kitchener, Ontario, based company which claims to be one of the world’s largest solar panel producers.
Information about Vivint and its Power Purchase Agreement is at http://www.vivintsolar.com/cost
Information about Canadian Solar, listed on the NASDAQ exchange is at http://www.canadian-solar.com/en/our-company/about-us/
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