What happens if the user consumes less power than generated by the solar panels in a given month?
The excess power is fed back to the grid at a predetermined rate, which is typically the same rate at which consumers purchase power from the grid. This process is known as net metering, where the surplus electricity is fed back into the grid, and the user receives credits for the exported energy. However, to minimize the likelihood of high credits, we proactively ensure that the solar project capacity is tailored to be slightly less than the minimum electricity consumption of the company in the last 1 year. This approach helps optimize the economic benefits of the solar project.
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Can I sell my solar panels?
The solar panels are part of a long-term lease agreement spreading over 10 -15 years, much like purchasing solar panels for your home. The current structure doesn't allow for the resale or trade of individual panels. While we may explore the ...
Who holds the ownership of the solar panels that I purchase?
You, as investors, own the panels and lease them to Vested, who installs and manages the solar project.
Is it safe to purchase solar panels? Is there any insurance?
Yes, solar assets in a RESCO (Renewable Energy Service Company) model typically come with insurance to ensure their safety and protection. This insurance coverage is designed to mitigate risks and provide financial security for all - the RESCO ...
What is the legal structure for Vested Solar projects?
VEPL (Vested Energy Private Limited) is one of the companies in the Vested Group and is a private limited company. Investors (you) will have a lease agreement in place with VEPL. The panels are sold to you and then leased back by VEPL. Although the ...
PPA (Power Purchase Agreement)
A PPA is a legal agreement between a solar project developer (say, Vested) and a customer (company). In this arrangement, the customer agrees to purchase the electricity generated by the solar at a predetermined rate over an agreed-upon period. PPAs ...