ContractPower Purchase Agreement General Terms and Conditions • November 13th, 2020
Here are the key terms of your Novel Energy Solutions Power Purchase Agreement (“PPA”) System installation cost $0 Agreement Term 6 Years Initial Electricity rate perkWh 3.50 cents Annual Escalator 2.0% Purchase Price At The End Of Year 6 Average Annual System Production * 6 * Then Electric Rate (Supply and Demand Rate) Extension After Year 6 60% * Then Electric Rate (Supply and Distributed Rate) Length of Extension After Year 6 6 Years Maximum Number of Seller Extensions 3 Novel Energy Solution’s Promises to You• We insure the entire System and arrange for its repair and maintenance at no additional cost to you• We warrant your roof against leaks and restore your roof at the end of the agreement, as specified in the agreement.• The rate you pay us for electricity, exclusive of taxes, will never increase by more than 2 % per year. Options for System purchase and transfer: 2 Options at the end of the 6 year term:• If Buyer moves, Buyer may transfer this agreement to the • You can
