Solar Company Calgary: Incentives and Rebates
Solar energy has gained significant momentum in Canada as more homeowners and businesses seek to reduce their carbon footprint and lower their energy costs. To support the transition to renewable energy, the Canadian government, along with provincial and territorial governments, offers various incentives and rebates for solar panel installations from your local solar company in Calgary. These incentives make adopting solar energy even more appealing by providing financial support to offset installation costs.
Learn more about the top solar incentives and rebates available in Canada and how to maximize your savings when investing in solar panel installation.
- Federal Solar Investment Tax Credit (ITC)
Similar to its counterpart in the United States, Canada offers a federal investment tax credit for renewable energy systems, including solar panel installations. Under the federal ITC, homeowners and businesses can claim a tax credit for a percentage of their solar panel system’s cost. As of the current guidelines, the federal ITC provides a credit of 30% of the eligible expenses for solar projects completed before the expiration date. This credit can significantly reduce the upfront cost of installing solar panels, making it an attractive incentive for prospective solar adopters as it continues to expand.
- Provincial and Territorial Solar Incentives
Apart from the federal ITC, individual provinces and territories in Canada offer their own solar incentives to encourage renewable energy adoption. These incentives can include rebates, grants, low-interest loans, and performance-based incentives. The availability and specifics of these incentives vary by region, so it’s essential to research the offerings in your province or territory to determine the potential financial benefits for your solar panel installation.
- Net Metering Programs
Many provinces and territories in Canada have net metering programs, allowing homeowners and businesses with solar panel systems to export excess electricity back to the grid. When your solar panels produce more energy than you consume, the surplus electricity is fed back to the grid, and you receive credits on your electricity bill. These credits can then be used during periods when your solar panels are not producing enough energy, such as at night or during cloudy days. Net metering helps maximize the financial benefits of solar energy, as you can offset your electricity costs and potentially earn credits for the excess energy you generate.
- Solar Energy Equipment Incentive Program (SEEIP)
Certain provinces, such as Ontario, offer specific incentive programs like the Solar Energy Equipment Incentive Program (SEEIP). This program provides financial incentives for solar photovoltaic (PV) installations, helping homeowners and businesses offset the initial costs of going solar. The program offers incentives based on the size of the solar PV system installed and can significantly contribute to reducing the payback period of your solar investment.
- Renewable Energy Certificates (RECs)
Some provinces in Canada have Renewable Energy Certificate (REC) programs. RECs represent the environmental attributes of a certain amount of renewable energy generated by solar panels. By selling RECs, solar panel owners can generate additional revenue, helping to further offset the costs of their solar panel system.
Conclusion
In conclusion, Canada offers a range of incentives and rebates to encourage the adoption of solar energy and support a transition to a greener future. The Federal Solar Investment Tax Credit (ITC), provincial and territorial incentives, net metering programs, the Solar Energy Equipment Incentive Program (SEEIP), and Renewable Energy Certificates (RECs) are among the top ways to maximize your savings on solar panel installation in Canada. Researching the available incentives in your region, consulting with reputable solar installers from a solar company in Calgary, and taking advantage of these financial opportunities will help you make a well-informed decision and create a more sustainable and energy-efficient future for your home or business. Going solar not only benefits your finances but also contributes to a cleaner and more environmentally conscious Canada.
Experience the EVOLVsolar difference by contacting our corporate office today at (587) 602-0534.
