Solar Energy Procurement Agreement (SEPA)
An energy contract establishes the relationship for this new market. They are often called Power Purchase Agreements - and in Georgia a Solar Energy Procurement Agreement. With this contract, Cherry Street Energy installs solar panels on-site and customers buy the energy produced from the panels at rates lower than the utilities.
Initial Term: Twenty Years.
Payment Terms: Monthly, based on consumption.
Annual Increases: Monthly contracts may provide for annual increases.
System Ownership: Cherry Street Capital and its subsidiaries own the system.
- Professional-grade monitoring with web access at no cost to the customer.
- Cherry Street Energy is responsible for all insurance, operations, and maintenance costs. Including inverter replacement.
- Provide access to property for design, installation, operations, maintenance, and inspection of the system.
- Maintain insurance for damage to the building.
- Maintain a consistent level of shading throughout the initial term.