Final answer:
A Sunnova Power Purchase Agreement (PPA) is a contract between a solar energy provider and a homeowner or business owner where the provider installs and maintains solar panels on the customer's property.
Step-by-step explanation:
A Sunnova Power Purchase Agreement (PPA) is a contract between a solar energy provider and a homeowner or business owner. Under this agreement, the energy provider installs and maintains solar panels on the customer's property, and the customer agrees to purchase the electricity generated by those panels at a predetermined rate for a specified period of time.
One of the main benefits of a PPA is that the customer does not have to pay for the upfront cost of purchasing and installing the solar panels. Instead, they only pay for the electricity they consume. The solar energy provider is responsible for the maintenance and repair of the panels throughout the contract period.
At the end of the PPA term, the customer can often choose to renew the agreement, purchase the solar panels at a discounted price, or have them removed by the energy provider.