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Prepaid Solar Power Purchase Agreement

Prepaid Solar Power Purchase Agreement Template for United States

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Key Requirements PROMPT example:

Prepaid Solar Power Purchase Agreement

"I need a Prepaid Solar Power Purchase Agreement for a 500kW commercial rooftop solar installation in California, with a 20-year term starting March 2025 and including performance guarantees for minimum 85% of expected annual production."

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Document background
The Prepaid Solar Power Purchase Agreement is designed for situations where customers prefer to make an upfront payment for future solar power generation rather than monthly payments. This document is particularly relevant in the United States market where solar installations are subject to federal tax incentives and state-specific renewable energy programs. The agreement comprehensively addresses system specifications, installation requirements, performance guarantees, maintenance obligations, and compliance with both federal and state regulations. It provides a framework for long-term solar power generation while protecting both the provider's and customer's interests under applicable U.S. energy laws.
Suggested Sections

1. Parties: Identification of system owner/seller and property owner/purchaser

2. Background: Context of the agreement, including property details and system specifications

3. Definitions: Key terms used throughout the agreement including technical and financial terms

4. System Installation: Details of solar system specifications, installation process, and timeline

5. Purchase Price and Payment: Prepayment amount, payment schedule, and any additional charges

6. Term and Termination: Duration of agreement and conditions for early termination

7. Performance Guarantees: Guaranteed energy output and compensation mechanisms

8. Operation and Maintenance: Responsibilities for system maintenance and operations

Optional Sections

1. Purchase Option: Terms for purchasing the system outright - include when offering end-of-term purchase options

2. Environmental Attributes: Ownership and transfer of RECs and other environmental benefits - include when environmental credits are relevant to the jurisdiction

3. Insurance Requirements: Specific insurance obligations for both parties - include when additional insurance coverage is required

Suggested Schedules

1. Schedule 1 - System Specifications: Detailed technical specifications of the solar system

2. Schedule 2 - Site Plan: Installation location and layout drawings

3. Schedule 3 - Performance Guarantee Calculations: Methodology for calculating guaranteed output and compensation

4. Schedule 4 - Payment Schedule: Detailed breakdown of payment structure and timing

5. Schedule 5 - Maintenance Schedule: Planned maintenance activities and frequency

6. Schedule 6 - Interconnection Agreement: Terms for connecting to the electrical grid

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Applicable Law
Commercial Operation Date
Delivery Point
Effective Date
Environmental Attributes
Environmental Financial Incentives
Expected Annual Production
Facility
Force Majeure
Governmental Authority
Guaranteed Output
Installation Site
Interconnection Agreement
Interconnection Point
kWh Rate
Metering Device
Net Metering
Operating Hours
Performance Guarantee
Permits
Prepayment Amount
Project
Property
Provider
Purchaser
PV System
Renewable Energy Credits (RECs)
Site Lease
Solar Energy
Solar Generating Equipment
System Loss
System Output
Term
Termination Value
Transfer Value
Utility
Utility Rate
Clauses
System Installation
Purchase Price and Payment
Performance Guarantees
Operation and Maintenance
Term and Termination
Force Majeure
Representations and Warranties
Insurance
Indemnification
Assignment and Transfer
Environmental Attributes
Property Access Rights
Interconnection
System Testing and Commissioning
Metering
Default and Remedies
Change in Law
Confidentiality
Dispute Resolution
Governing Law
Purchase Option
Site Restoration
Notices
Permits and Approvals
Title and Risk of Loss
System Removal
Amendments
Waiver
Severability
Entire Agreement
Industries

Federal Investment Tax Credit (ITC): Federal legislation governing solar investment tax credits and related regulations that impact the financial structure of solar PPAs

PURPA: Public Utility Regulatory Policies Act - Federal law governing the relationship between utilities and independent power producers

FERC Regulations: Federal Energy Regulatory Commission rules governing interstate electricity transmission and wholesale electricity markets

NEPA: National Environmental Policy Act - Federal environmental review requirements for certain energy projects

National Electric Code: Technical standards for electrical installations and solar system requirements

State Renewable Energy Standards: State-specific requirements and goals for renewable energy implementation and usage

Net Metering Laws: State-specific regulations governing how excess solar power is credited and compensated

Solar Access Rights: State laws protecting solar system owners' right to access sunlight and maintain system effectiveness

Interconnection Requirements: Technical and procedural requirements for connecting solar systems to the electrical grid

State PUC Regulations: State Public Utility Commission rules governing solar installations and utility relationships

Consumer Protection Laws: Federal and state regulations protecting consumer interests in solar energy contracts

Local Zoning Laws: Municipal and county regulations governing solar installation locations and specifications

Securities Laws: Federal and state regulations regarding the treatment of prepaid PPAs as potential securities

UCC Provisions: Uniform Commercial Code requirements affecting solar equipment sales and service contracts

Warranty Laws: Federal and state requirements for product and service warranties in solar installations

Insurance Requirements: Mandatory insurance coverage requirements for solar installations and operations

Tax Regulations: Federal and state tax implications for prepaid solar PPA arrangements

Environmental Compliance: Environmental regulations affecting solar installation and operation

Grid Standards: Technical standards and requirements for grid connection and operation

Performance Guarantees: Regulations governing performance guarantees and minimum production requirements in solar contracts

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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