Solar photovoltaic (PV) systems convert sunlight into electricity. Most of the solar PV systems we sell are "grid tied" systems that require no batteries and take advantage of a special offering by BC Hydro and Fortis Electric called Net-Metering. But how does this actually work?
With increasing electricity prices and a dramatic drop in the manufacturing costs of solar arrays, the economics of going solar are getting better and better. Below are some of our favourite reasons to go solar.
Solar panels have 25-year performance warranties and are expected to generate a good amount of electricity well beyond that!
Solar panels offer a low risk, high return on investment over the life of the system. These projected returns are already after tax, unlike other investments like mutual funds whose returns will be subsequently taxed.
Solar panels increase your home's value. The Lawrence Berkeley National Laboratory found that homes with an averaged size (3.8 kW) solar system were selling at a $15,000 premium over homes without solar.
Investing in solar helps you gain independence and protect you against fluctuating and unreliable electricity pricing from BC Hydro and Fortis.
Please note: We aim to keep this information as up to date as possible – for complete eligibility, and current information, see the links provided.
UPDATE: On Feb 5th Natural Resources Canada announced that the Greener Homes Grant as currently structured will be closing to new applications in two weeks. Read the full News Release here: https://www.canada.ca/en/natural-resources-canada/news/2024/02/government-of-canada-to-establish-next-phase-of-canada-greener-homes-initiative-to-help-more-canadians-save-on-their-energy-bills.html
Canada Greener Homes Grant
Provided by the Government of Canada. Up to $5,600 for an EnerGuide evaluation and energy efficiency retrofits. Grant amounts vary based on the building type and upgrade completed. New homes are not eligible for the grant.
» Up to $5,000 for eligible retrofits. Homeowners who conduct at least one retrofit that is both recommended by an energy advisor and eligible will be reimbursed.
» Up to $600 for the cost of your pre-and post-retrofit EnerGuide evaluation.
The grant amount is pro-rated based on the added photovoltaic system capacity to the house; for example, if you are adding 3.5 kW PV capacity to your home, you are eligible for a $3,500 grant ($1,000 per kW).
More Information: www.betterhomesbc.ca/rebates/canada-greener-homes-grant
Canada Greener Homes Loan
Once you have applied for the Greener Homes Grant, received your pre-retrofit EnerGuide evaluation and decided which retrofits you would like to do, you can apply for an interest-free loan. The loan will help cover the cost of retrofits that are both eligible and recommended by your energy advisor.
» Maximum: $40,000| Minimum: $5,000
» Repayment term: 10 yrs, interest-free. Loan type: Unsecured personal loan on approved credit
EV Charger Rebate
CleanBC Go Electric rebates for single-family homes, multi-unit residential apartments and condos, and workplaces. This program is part of the province’s CleanBC plan to make clean transportation more affordable and accessible for British Columbians.
More information: https://electricvehicles.bchydro.com/incentives/charger-rebates
Home Battery Systems
If you want to purchase batteries for storing the solar energy from your PV system, a portion of the cost may be eligible for Climate Resiliency Grants.
More Information: https://www.nrcan.gc.ca/energy-efficiency/homes/canada-greener-homes-grant/start-your-energy-efficient-retrofits/plan-document-and-complete-your-home-retrofits/eligible-grants-for-my-home-retrofit/23504#s7
Accelerated Capital Cost Allowance for Businesses
can take advantage of two important tax incentives under the Income Tax Act that encourage investments in clean energy generation and energy conservation projects. The enhanced allowance provides a 100 percent deduction, with a phase out for systems that becomes available for use after 2023.
Coming Soon! 30% Income Tax Credit
Announced in the Fall Economic Statement 2022. A refundable tax credit equal to 30% of the capital cost of investments in electricity generation systems, including solar systems and storage such as batteries.
The credit should be available from the first day of next year’s federal budget and will end in 2035.
Step 1: Preliminary Estimate
Give us a call or fill out our online form to provide us with information needed to come up with a preliminary estimate. We will email you an estimate that includes site-specific solar production calculations, savings calculations, and expected cost of different solar PV systems, so that you can get an initial sense of the systems that might work for you.
Step 2: Site Visit
Next we will schedule a one-hour site visit, during which we will confirm any assumptions made in our preliminary estimate. This includes looking at the capacity of your existing electrical panel(s) to accommodate solar and performing an onsite shade analysis. If electrical consumption data from your utility provider was not provided already, getting a copy of your historical electrical consumption at this stage will also provide a more accurate calculation of projected solar energy savings.
Step 3: Final Quote & Contract
We will provide a firm quote based on the site assessment. Once we have a signed contract in place, we will order all the parts for your project. We will also, on your behalf, submit the necessary paperwork for approval to interconnect your system to the BC Hydro, Fortis Electric, or other Utility provider's grid.
Step 4: Installation
The length of the install will vary with the size and complexity of the system. Most installations take approximately 1-2 weeks to complete. As most of the work is done outside, there is limited disruption to your day or access that is required. We believe that a quality installation is worth spending extra time and not cutting corners, and we also believe in the value of following through on our commitments. We won’t promise to deliver the fastest installation on the market, but with all our experience delivering solar installations, we know how to come through on-time and on-budget.
Step 5: Monitoring and Saving
The part you've been waiting for! Once we have approval from the Utility, you get to flip the switch and begin generating your own energy from the sun. Our systems come with a proprietary monitoring system where you can see your detailed solar generation and the usage in your house all in single, easy to use app.
Did we mention you'll save tons of money on your Utility bills?
Want to know more? Check out our FAQs >>>