As prices of basic energy (natural gas, electricity, heating oil) are generally more volatile than prices of other commodities, it was advantageous for the District to enter into a Power Purchase Agreement (PPA) to receive stable and lower electricity rates. The PPA calls for the installation of an array of solar panels on all Courts Plus roof surfaces allowing the District to lock-in for 20 years energy costs on 50% of the electricity used at Courts Plus.
The solar investment partner would own and operate the solar PV system and would recover its investment costs by selling solar generated electricity back to the District at a fixed contracted price for a 20-year term.
With a PPA, the solar company installs and maintains a solar system on a customer's property at no upfront cost. Instead, the customer agrees to purchase the electricity the system produces at a predetermined rate, often lower than traditional utility prices.
