SOLAR POWER FAQ’s Q. Will the utility company send me a check if I produce more power than I use?
A. No. However, if you produce more power than you use in any given month, the utility will bank that electricity and you can draw down that electricity credit for up to one year.
Q. Isn’t solar still really expensive?
A. NO! With Champions Solar innovative financing and power purchase agreements (PPAs) Solar is actually far more economical than buying your power from the utility. The big advantage is that this cost won't increase, while the cost of electricity from the utility has increased at an average rate of 6% per year over the last 30 years!
Q. Do I need to buy a system that will eliminate my electric bill?
A. No. Many businesses, schools and residents buy systems that only eliminate part of their electric bill. The utilities have adopted a rate structure that increases the cost of electricity as you use more of it. Many choose a system that will only eliminate the most expensive electricity. This increases the return on your investment.
Q. What kind of financing is available?
A. We provide the financing with $0 down, in the form of the CHAMPIONS SOLAR power purchase agreement. Now you can go solar without a high upfront cost. We install and maintain the equipment on your site. You pay only for the solar electricity you produce and use each month.
Q. Will I ever have to pay another electric rate increase if I buy this system?
A. NO! That’s the real beauty of these systems. Investing in a solar electric power system is like buying insurance against future rate hikes, you’ll never get another electric rate increase for the next 30 years, you become your own power company, you’ve bought the generator, now the fuel (sunshine) is FREE!!!
Q. How does net-metering work?
A. With a grid-tied solar electric system you still have your “line-coming-in” from the utility, just like before, only now you also have a “line-out” to send your extra electricity back to the utility grid. Net Metering measures the difference between the electricity you buy from the utility and the electricity you generate with your solar electric system. When you are making more electricity than you are using, like typical summer days, your extra electricity automatically gets metered back out (sold) to the utility grid. You receive credit for this power at the same rate they sell it to you. Net Metering allows you to use the electric utility grid like a bank account. You can put electricity into it that you don’t use immediately and you can withdraw the same amount later on at no net cost to you. The Net-metering billing system is a 12-month billing cycle. Because you make more in the summer, and less in the winter, they allow you to credit your summer months into your winter months. At no time will the utility actually write you a check, net-metering requires the utilities to credit you for “up to the amount that you use.” The idea is to get a system that just meets your needs and avoid paying any electric bill at all.
