Solar Photovoltaic systems, also PV systems or solar power systems, are an electric power systems designed to supply usable solar power by means of photovoltaics. It consists of an arrangement of several components, including solar panels to absorb and convert sunlight into electricity, a solar inverter to convert the output from direct to alternating current, as well as mounting, cabling, and other electrical accessories to set up a working system. It may also use a solar tracking system to improve the system’s overall performance and include an integrated battery solution, as prices for storage devices are expected to decline. As PV systems convert light directly into electricity, they are not to be confused with other solar technologies, such as concentrated solar power or solar thermal, used for heating and cooling.
Solar PV System installations on any property can be fully funded by C-PACE. This includes all consulting, advisory and brokerage fees, closing costs, service contracts and roof strengthening costs. This is in addition to the actual cost of the solar panels and the installation costs, meaning that property owners do not need to spend any of its own capital. Property owners may pay C-PACE over terms of up to 30 years. Property owners may still take advantage of any tax credits or incentives available for their solar project. Returns to the bottom line are often positive from the first day after the panels are installed. Subsequently, the competitive position of the property remains enhanced for years into the future.