Installing solar panels on your BC home or business makes a lot of sense. With grid parity now a reality, the cost to install a solar panel system has never been lower. So what are some of the reasons why you might consider solar power for your home?
There is no easy answer to how much CO2 you can offset as every system is different depending on the size and output. In areas where fossil fuels and natural gas are the source of electricity, you can offset 7.665 tons per year when installing a 10kWh system. In BC we are lucky to have Hydro power which does not burn fuels to generate electricity. But much of the world does not use hydro and we all are affected by climate change. So worldwide solar adoption would be good for everyone.
What would happen if a mere 5% of American households offset their energy use with solar power? This article shows some staggering data. In 2007, the U.S. Census Bureau estimates that the number of households in America was about 112 million, so 5% is 5.6 million households. That’s a large number of homes and it yields an impressive win for the environment.
If 5% of American households went solar, it means:
With the recent BC Hydro rate increases and the upcoming ones every year for the next ten years and beyond, investing in a solar energy system at your home or business is a long term win. Payback, depending on the size of the system, is roughly 9-14 years and then you can start to save money every year for the next 30 years.
Relying on BC Hydro into the future will become an expensive proposition. Becoming your own generator of power frees you from rate hikes and power outages. Read more about increasing BC Hydro rates from our article. “Avoid BC Hydro Rate Hikes with Solar Power“.
Home buyers consistently have been willing to pay more for a property with PV across a variety of states, housing and PV markets, and home types. Real estate agents, appraisers and other property valuers have made steps to understand what kind of premium value can be placed on a home with solar panels. The study researchers conducted was the most comprehensive PV home premium analysis to date. The results provide confidence that solar panel systems on a home consistently adds value across housing markets and home types.
Read more about increasing your home value with solar panels at our article, “Residential Solar Panels Increase Home Value”.
Net metering in BC is one of the great benefits of installing solar at your home or business. Participating in the net metering program with BC Hydro is an electricity generating option for residential and small commercial customers who wish to connect the solar array unit to the BC Hydro distribution system. This very simple process to connect your system to the grid allows to sell unused power back to grid and receive a credit or cheque at the end of the year.
Electric cars are becoming more and more commonplace. All the major manufacturers have at least one model. Currently, as fuels prices have dropped or remain static, the payoff time for an electric car not make sense for everyone, but as those prices at the pump inevitably climb over the coming years and the technology of the cars improve and the prices drop, more electric cars will hit the road.
Installing solar panel system will charge your car every night and now you can drive for free, which helps defray the cost of car ownership and reduces green house gas emissions and your monthly power bill.
This Novo Solar client had Novo Solar install a 3kWh in West Vancouver to charge his electric car. With room for 12 panels on his south facing roof this system will provide enough solar power for the owner to drive 15,000 Km’s per year on sunshine.
So with all these reasons, it’s time to start thinking about how you can #PutSolarOnIt!