A Californian Redditor was thinking about signing a solar power purchase agreement and looked to r/solar for advice.
"I know everyone on here says to run away from PPA and to buy with Cash if I can. However, I can't at the moment, and these SCE bills are killing me, so main goal is to lower these bills, which is what makes PPA enticing," wrote the original poster.
Power purchase agreements, like those offered by Palmetto, help homeowners tap into the benefits of solar power without the steep up-front investment. If an agreement includes no money down and electrical rates are locked in that are lower than your current utility's, homeowners can start saving money quickly.
The original poster debated some of the resistance they were seeing in the comments.
"You're saying my PPA deal is too good to be true? SCE offpeak is 0.25, their on peak is 0.61. at 0.23 cents it is slightly lower than SCE ... not 50% off," wrote the original poster.
Solar is the cheapest form of power out there, but saving a few bucks is just the start. By switching to renewable energy, you're displacing the use of coal and gas power. These sources produce loads of pollution, which exacerbate destructive weather patterns. Increased severity of floods and droughts is a major factor leading to the recent housing and agriculture crises. Relying on solar can tamp down these trends.
Palmetto's solar rental program, LightReach, can help homeowners tap into these benefits for no money down.
Of course, buying your solar panels instead of renting them is a great move too. EnergySage can connect homeowners to vetted local installers. These experts know the ins and outs of rebates and can save up to $10,000 on installation costs.
If you're on the fence, check out this resource for weighing the benefits of a power purchase agreement versus buying solar panels outright.
The Reddit community was supportive of the original poster going solar, one way or the other.
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What's the biggest factor preventing you from investing in solar power?
Click your choice to see results and speak your mind. |
The cost 🫰 "Your local utility company has all the control over your electric rates," said one community member. "Going solar with a PPA provides you with an alternative that's lower than the rate of your local utility."
"Every solar option no matter what you pick is better than staying with SCE," said another user. "SCE rates will increase every year. Guaranteed. Just like taxes. It doesn't go down."
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