• Ricans pays for the cost of a solar installation on or near the customer’s facilities (like a rooftop, parking lot or unused land).
• Ricans takes responsibility for ownership, operation and solar panel maintenance.
• The customer simply enters into an agreement to purchase the electricity produced by the system at a predetermined rate per kilowatt-hour (kWh).
• A typical PPA agreement might run 20 to 30 years and may include a variety of purchase and renewal options.

What are the pros and cons of solar PPAs?

There are benefits and drawbacks to solar PPAs. Pros of Solar Power Purchase Agreements

• 1. Rs.0 capital investment: There’s usually no upfront cost involved in entering into a solar PPA.
• 2. Immediate savings: Lower electricity bills from day one.
• 3. Predictable energy costs - A solar PPA allows a customer to lock in low energy costs & protect their organization from unpredictable
  fossil fuel-based energy rates.
• 4. No production or performance risks.
• 5. No ongoing operations and maintenance (O&M) costs.
• 6. Immediate Savings.
• 7. Corporate sustainability: By purchasing clean, renewable energy instead of using energy generated with fossil fuels, organizations
  can make a real difference for the environment and help set an example for sustainable business practices. Cons of Solar PPAs.
• 8. Cash is cheaper: In the long term, the customer will pay less and save more buying their own solar system.
• 9. Longer-term obligation: The previously mentioned early buyout option notwithstanding, with a PPA, the customer is generally
  agreeing to purchase power for 20 or more years.
• 10. No control of equipment: With a solar PPA, the customer doesn’t own the solar equipment.