Tuesday, November 27, 2012
Denver, CO (PRWEB) November 27, 2012 Residential solar photovoltaic systems are proven electric-bill money savers, but the high cost of entry, even with tax credits and utility rebates, have kept many homeowners from tapping the sun’s energy. SunTalk Solar of Denver is changing that dynamic with a solar Power Purchase Agreement (PPA) in conjunction with its financing partner Clean Power Finance that can deliver the solar savings with no out-of-pocket expense to the homeowner.
SunTalk Solar’s innovative PPA program, similar to a lease, calls for the homeowner to purchase the electric power generated by a roof-top solar array at a substantial savings from utility company electric rates over a 20-year period and reap the benefits of lower utility bills immediately.
A typical home solar photovoltaic system from SunTalk Solar can offset, on average, 85% of a home’s electrical power needs and under the company’s PPA this power can be purchased for a 10% to 15% percent savings versus the utility company. For instance, if Xcel Energy charges 11 cents per kilowatt hour (kWh) for electric service, The PPA charges the homeowner between 8 cents and 10 cents for the same energy, depending on configuration and location. The balance of the home’s electric needs, including the demand on cloudy days, comes directly from the utility company grid.
While installing a SunTalk Solar system with zero down payment under the PPA is a highly attractive option, customers also have the choice of pre-paying all or a portion of the 20-year energy commitment in advance and lower their per-kWh charges to as little as 4 cents.
“The Power Purchase Agreement is a highly flexible program for homeowners in any financial bracket to begin reaping the benefits of solar energy on a level they can afford,” said John Bringenberg, President and CEO of SunTalk Solar. “It is remarkably simple: Say yes, pay nothing, save money…Period. Plus, the kWh rate under the PPA is locked in for the 20-year agreement period so when the utility company raises electric rates – which is inevitable – the consumer’s savings just gets better and better.”
Bringenberg noted that reports by Xcel Energy and others indicate that Xcel electric rates have gone up over 5% per year in the last six years, and the projection is that by the time a 20-year SunTalk PPA executed this year expires, Xcel electric rates will have risen 71%. SunTalk Solar PPA customers, Bringenberg added, will still be paying just 4 cents to 10 cents per kWh in that year.
SunTalk Solar installs the solar system and has access to multiple solar products, from such companies as SunPower and SolarWorld, both US-based manufacturers. SunTalk’s PPA program is under the aegis of a company called Clean Power Finance, a venture capital financing firm that enjoys a part of its funding from the Internet giant Google.
Clean Power Finance actually owns the system and manages the power usage through a meter that can be read over the internet. Clean Power Finance blends into the PPA all federal and state tax credits, as well as available utility company rebates, so the homeowner receives the benefits of these incentives. To keep the costs of the installed system down, Clean Power Finance also has the extra advantage -- not available to homeowners -- of taking tax depreciation benefits on the system. These credits, rebates and benefits are bundled to reduce costs and boost the energy savings to the homeowner just as if they owned the system themselves. At the end of the 20-year PPA, the homeowner can renew the arrangement, have the system removed at no cost, or purchase the system from Clean Power Finance at fair market value.
Bringenberg says his solar systems are long-life products, with anywhere from a 30- to 40-year life span, and carry a 25-year warranty. These systems also require little or no maintenance throughout the term of the PPA, and any maintenance issues are the responsibility of Clean Power Finance.
“The added benefit of installing a solar electric system on your house is that you get credit for every bit of energy produced – any energy you can’t use goes back into the utility grid, feeding your neighbors’ homes,” said Bringenberg. “And your home value goes up. We have been installing solar systems in Colorado for several years for people concerned about energy usage and costs, and these new Power Purchase Agreements really allow a much broader audience to tap the benefits of solar power at a much lower cost.”
SunTalk Solar is a Colorado-based company affiliated with HomeTalk , which since 1996 has been integrating high technology systems in homes. SunTalk Solar has a variety of solar installation programs for Colorado homeowners, including the PPA, lease and outright purchase options. For complete details call 303-904-2268 and visit the company on the web at http://suntalksolar.com/.
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