POWER PURCHASE AGREEMENT (PPA)

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Third-party financing model in which a financier owns the system and sells the power to the customer at a reduced and fixed rate. This method allows customers to make progress toward their energy goals while third-party investors take on the financial risks. The PPA was originally developed by Jigar Shah in the late 2000’s when he led SunEdison, and is largely credited with the early growth of the solar energy market.