A Solar Energy Production Company (EPC) is an outsourcing partner that helps solar photovoltaic (PV) system owners reduce costs and increase the production of solar energy. An EPC company also streamlines the planning, design, permitting, and construction of a solar PV system by managing each phase and providing a single point of contact for suppliers and contractors.
An EPC company does not charge a fee for its services but instead receives a portion of the cost savings or premium paid to them for its services. However, hiring an EPC company comes with its challenges. The need for transparency in business dealings, contractual obligations, etc. arises from working with any third-party partner.
An EPC Company is a third-party partner that helps solar photovoltaic (PV) system owners reduce costs and increase the production of solar energy. It also streamlines the planning, design, permitting, and construction of a solar PV system by managing each phase and providing a single point of contact for suppliers and contractors.
It does not charge a fee for its services but instead receives a portion of the cost savings or premium paid to them for its services. The organization will typically charge a fee as a percentage of the total cost of the solar PV system. The percentage will vary based on the size of the system, the amount of work required to install the system, and the level of risk of the project.
Hiring an EPC company will take care of the design and implementation of solar PV systems for you. You will have a single point of contact for all stakeholders to expedite the process and reduce your dependence on them. The firm has experience in dealing with local and state authorities and will know how to navigate the intricate regulatory landscape for solar PV systems. Moreover, you can also expect it to be knowledgeable about tax credits and other incentives available to you.
- Reduced costs
An EPC company will negotiate with suppliers to seek the best pricing on components of your system and identify opportunities for cost reduction. This can help you save on installation costs and lower your overall investment in a solar PV system.
- Reduced risk
The organization will provide feasibility studies and other design-related information to make sure your system is designed to meet your requirements. More importantly, it will also be responsible for acquiring all necessary permits to ensure the timely completion of your solar PV system.
- Streamlined project management
The firm will be responsible for tracking and managing the progress of every step in the design and implementation processes. You can expect to receive regular updates on the progress of your project and any issues that might arise.
- Improved cash flow
The corporation will procure materials and services from its network of suppliers and contractors. This will enable you to reduce the time required to receive payments and improve cash flow.
The price of hiring an EPC company is determined by the percentage of the PV system cost they will receive. Make sure you understand the price structure and the factors that affect it.
As a general rule, the higher the price of your PV system, the higher the company’s fee will be.
Choose a company with a positive reputation for completing projects on time and within budget. Several online platforms provide video reviews for solar companies. Such reviews will provide you with insight into how the companies have performed for their past customers and the issues that may have arisen. Make sure the company you choose has a positive reputation and a history of completing projects on time.
- Contractual obligations
A solar EPC company will typically work on a cost-plus basis, meaning they will charge you a percentage of the total cost of your PV system. Make sure you understand the terms of the agreement and have an exit strategy if things do not go as planned.
Solar EPC services in Gurgaon provide many benefits to its customers. They will help you save money, reduce risk and manage the project more efficiently. Make sure you understand the terms of the agreement and have an exit strategy if things do not go as planned. Choosing an ideal EPC company is the first step toward a successful solar PV installation so make sure to implement it wisely and thoughtfully.