Frequently asked about solar

1. What is a PPA?

A Power Purchase Agreement (PPA) is a contract between a power generator and a power purchaser for the sale and purchase of electricity. It outlines the terms, pricing, and duration of the agreement, providing a framework for the financial arrangement and ensuring a reliable power supply for the purchaser.

2. How is a PPA process?

Power Purchase Agreement (PPA) offers a unique opportunity to leverage solar energy and save on electricity costs. This is how it works:

1. We Generate A Customized Proposal
Based on your utility bills, Greenday Finance presents you a customized proposal. This includes details about the recommended solar system size, estimated energy production, and your savings before and after.

2. Agreement Signing (PPA)
If you decide to proceed, you’ll enter into a Power Purchase Agreement. This agreement outlines the terms and conditions of the arrangement.

3. Solar System Installation
Greenday Finance will handle the entire installation process, including securing permits, mounting solar panels, and connecting the system to the electrical grid.

4. Energy Generation
Once the solar system is operational, it will generate electricity from sunlight. The energy produced is consumed on-site and can offset a significant portion of your property’s traditional electricity consumption.

5. PPA Payments
Instead of purchasing the solar system outright, you will only pay for the electricity generated by the system at a predetermined rate, as specified in the PPA. This rate is typically lower than the prevailing utility rates, ensuring immediate savings on your energy bills.

6. System Maintenance Worry-Free!
Greenday Finance is responsible for monitoring and maintaining the solar system throughout the PPA’s duration. This includes regular inspections, performance optimizations, and addressing any necessary repairs.

7. Agreement Duration
PPAs typically have a long-term duration, commonly around 15 to 25 years. During this time, you benefit from fixed or escalating electricity rates, depending on the terms agreed upon in the PPA.

3. Why should I go solar?

Most homeowners choose to go solar for the electricity bill savings. While this might be the initial attraction of going solar, many do not realize solar also allows you to control your power bill and increase your property value.

4. What are the financial benefits of solar energy for businesses?

Solar energy can reduce your current operating expenses and provide peace of mind in the face of rising energy costs and take advantage of the growing base of customers looking for environmentally responsible suppliers that focus on sustainable energy strategies.

Government incentives combined with recent decreases in solar equipment prices make investing in solar energy a good financial decision for businesses and public agencies. An investment in solar energy can generate a quick payback and long-term savings.

– Reduces operating costs:
A solar energy system can reduce or eliminate your company’s electricity bill.

– Protection against changing utility rates:
As energy demand increases and non-renewable resources are depleted, the cost of energy rises. And events beyond your control can cause sudden short-term spikes in energy prices, putting unnecessary stress on your business.
Installing your own solar power can reduce or eliminate your exposure to rising
electricity rates. The portion of your energy use that your solar system generates is no longer subject to short- or long-term increases in electricity rates. In fact, the more rates rise, the greater your savings will be.

– Reducing the impact of climate change on the economy:
According to a recent report by the Universal Ecological Fund, climate change has cost the U.S. economy about $240 billion per year over the past 10 years. Another report, the Fourth National Climate Assessment, which was written by climate scientists from 13 U.S. federal agencies, found that the U.S. economy will shrink by as much as 10% by the end of the century if climate change is not reversed. . economy will contract by as much as 10% by the end of the century if climate change continues at the current rate. These economic losses are the result of extreme weather events, worsening air quality, rising sea levels and other effects. Switching from fossil fuels to renewable energy could help slow climate change and avoid some of these potential economic losses.
There are many reasons why it is beneficial to use more renewable energy and less fossil fuels. It is better for the environment and human health, and it also has many positive economic impacts.

– Becoming a green business:
Generating electricity from solar power means your company uses less fossil fuels, reducing pollution and greenhouse gas emissions. By switching to solar power, your company is doing its part to fight climate change and reduce our country’s dependence on foreign energy sources. But the benefits go beyond that: being a sustainable business can not only reduce your operating costs, it can also be a positive marketing and public relations tool. Research shows that a growing number of consumers make their purchasing decisions based on the environmental responsibility of companies.

5. What are the different types of solar panels?

There are many different brands available on the market today. Some of them are of
higher quality than others. Higher quality solar panels will produce more power for
longer periods of time than lower quality panels. In general, however, there are two
main types of solar panels, monocrystalline and polycrystalline. Monocrystalline
panels use high purity silicon; they are more efficient and produce more energy than
their polycrystalline counterparts.

6. What are the environmental benefits of solar energy?

– Reduces air pollution
– Decreases fuel use
– Reduces the destruction of ecosystems
– Helps combat global warming
– Does not generate noise pollution

7. Do solar panels produce energy when the sun is not shining?

Yes, solar panels can work even when the sun is not shining. Solar panels produce energy with light or radiation from the sun, not heat.

8. What happens if there is snow on the solar panels?

Solar panels convert sunlight into electricity and if there is sunlight on the panels, it
doesn’t matter how hot or cold it is.
Snow should not drastically affect the solar panels or their operation in the winter. Just
keep in mind that if the snow does not slide or melt for a few days, your panels may not be generating electricity at that time. However, snow and cold weather will not be a major hindrance to your solar panel’s ability to generate electricity.

9. Do the solar panels work during an outage?

Unfortunately, most solar panels are connected to the grid, so if there is a power outage, your panels will also stop producing power. Your panels shut down to prevent them from sending power back to the grid. This is actually a safety precaution to keep grid and emergency workers safe while they attempt to make repairs. If you are concerned about blackouts, there is the option of including a battery in your solar panel system to store additional energy that can then be used.

10. Will I still receive an electric bill if I have solar panels?

Solar panel systems are a great way to beat rising electricity prices and take advantage of generous government rebates.
In most cases, you will still receive an electric bill. With most solar systems.

There are two ways to eliminate electric bills altogether:

– Installing a solar battery
– Oversizing your solar system

11. How much money will I save with solar energy?

It’s hard to be satisfied with the price of solar if you can’t determine how much it will save you. Fortunately, Greenday Finance offers an estimate of how much you could save by financing a solar system at your business.


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