Excluding host credits, PowerFin's pricing is highly competitive with the cost of wholesale delivered power in most markets. Including host credits, PowerFin's pricing is lower than most prevailing retail power rates. Our industry-low cost structure enables us to share the savings with utilities and their customers. Variances in our pricing are driven by regional differences in irradiation and labor costs as well as the size of the off-take contract.
PowerFin builds, owns and operates the solar assets under a long-term performance contract, such as a PPA or Capacity Agreement. The off-taking utility, however, has discretion to control and dispatch the assets.
Real-time two-way monitoring and control of smart inverters (and batteries) are provided to utilities to balance load, generation and network operations.
If the assets don't perform, PowerFin doesn't get paid or must pay liquidated damages under the long-term PPA or Capacity Agreement. A performance guaranty, backstopped by the assets as well as large institutions, is provided under the off-take contract.
Utilities can prioritize certain circuits or communities in their service territories.
Batteries are still relatively expensive and don't always make economic sense compared to using existing grid and generation assets. Smart inverters, which are included in SolarHost, can provide many of the same grid services as batteries.
Marketing is handled at the discretion of the off-taking entity (utility) that typically engages the retail customers. PowerFin has found success co-branding with utilities to elegantly engage customers.
The host credits are assigned to the new electricity customer, regardless of whether they rent or own the real estate. Since the solar assets are not the property of the building owner, there is no involvement with the real estate transaction or mortgage. The new tenant simply fills out a single-page form and the host credits are assigned by the utility to their new customer account. That's it!
Yes, in addition to providing O&M for the assets, PowerFin provides a performance or availability guaranty under the long-term off-take contract. Details of the guaranty depend on the nature of the contract and the objectives of the utility.