Solar panels have been around a long time. The reason you don't see a whole lot of them in New Brunswick is because of our really low power rates. We've enjoyed some of the lowest electricity prices in Canada. So why would we generate our own power when we can buy it so cheap? Well, rates are climbing. We are experiencing 3-5% increases every year. Have a look at our rates compared to others:
I believe anyone who plans to be in their home for the next 10 years or more, should have solar. Provided they have decent sun exposure. Having solar allows you to produce your own electricity using the sun and offset your power bills saving you money every singe moment the sun is out. No moving parts, silent operation, and endless power production! It is pretty amazing really.
The sun shines, the solar panels turn it into electricity, your house consumes it, then sends the extra out to the grid. Your power meter runs backwards and the extra power gets sold to your neighbors by NB Power. Your meter keeps track of the power coming and going and at the end of March every year, NB Power resets the count and you start again. This means you can carry all the extra power you made in the summer, and use it in the winter. This is known as Net Metering. You can ready about it here: https://www.nbpower.com/en/products-services/net-metering/
So should you get it? Right now there are several incentives that make solar power in New Brunswick lucrative. They are as follows:
- Total Home Energy Savings Program https://bit.ly/NBPowerTotalHome
- Canada Greener Homes Grant https://bit.ly/CanadaGreenerHomesGrantNB
- Canada Greener Homes Loan https://bit.ly/CanadaGreenerHomesLoan
I will go into these in detail in another post, but here is the short of it. The Total Home program gives you $200 for every kilowatt (we will call it 2 solar panels) that you install. The Grant gives you a $5000 grant towards your solar installation. And the Loan lets you borrow up to $40K interest free for 10 years.
Yes you can combine all these. Stack em. Like paddies on a burger. And when you do, you save a pile of money on your solar installation. Then, if you compare your old bill vs your new bill plus loan payment, the latter is generally less. Old Bill > (New Bill+Interest free loan). If it isn't less, then it is usually pretty close. Then at the end of the 10 years, your interest free loan is paid for and guess what? Big time savings. Gravy.
Well that all sounds well and good, but how long do these solar panels last? How about a 30 year warranty on the panels themselves? Check out this sample proposal that lays it out over 20 years: bit.ly/solarestimatedemo
Your return on investment is directly proportional with your roof orientation and pitch. The fastest return is usually a roof mounted system. If mounted on the ground, this adds to the installation costs and makes the return a bit longer. But that is a story for another day.
Comentários