LFP battery manufacturer Blue Planet Energy is now offering California business owners zero-money-down financing for solar + storage microgrids. The microgrids, using the company’s Blue Ion LX battery solution, can be set up to thwart the burden of California’s many public safety power shutoff events by utilities.
“For too long, California’s business owners have borne the burden of power outages beyond their control – disruptions that erode revenues and deny communities access to critical goods and services when they’re needed most,” said Chris Johnson, CEO of Blue Planet Energy. “Our unique financing offering democratizes the immediate and long-term benefits of solar + storage microgrids. We allow essential businesses to operate on their own terms and to benefit from ongoing clean energy savings.”
With this hybrid power purchase agreement (hPPA) financing model, Blue Planet Energy eliminates the upfront cost barrier to solar + storage microgrid adoption. Business owners pay only for electricity usage generated by a new solar array and a fixed rate for the added benefits and services delivered by the battery storage system. All operations and maintenance is covered for the lifetime of the agreement.
Solarman says
“All operations and maintenance is covered for the lifetime of the agreement.”
Beware, this seems like just a spin on zero down solar PV systems where the company is renting your roof and now it seems like renting space on perhaps a wall for energy storage. The problem can be additive. Once you sign the deal and get your system, if you decide to sell the house or business later, there is a third party involved in the sell of the property. IF this entity that installed the system fails and files bankruptcy, who takes care of your operations and maintenance now? Another company buys out the old company, does your PPA with the original company stay in place?
You buy the system, you control it, you lease the system they control it.
Blue Planet Energy says
Hey Solarman. Let’s address your concerns:
There are provisions in the agreement for “assignment” to a new owner in the event that the building is sold to another party. The terms are as standard and streamlined as possible to make sure that the next party agrees to continue by the terms of the agreement so they can benefit from the system also.
The hPPA agreement includes the O&M and is not dependent on the installer, Blue Planet Energy or any equipment provider. O&M is required at all times while the agreement is in place. In no way is the end customer responsible for O&M.
If the hPPA is sold to another investor, all the terms would stay in place. That said, we strive to work with stable, long-term asset owner who prefer to own these systems.