When an alternative energy source can generate power at a cost level that is less than or equal to the price of purchasing electricity from the BC Hydro power grid, we call this Grid Parity.
With the increased rates form BC Hydro as of April 1, 2015 of 6%, we have now reached grid parity in British Columbia.
With power being 15% more expensive than it was just 2 years ago and continuing to rise, BC Hydro rates are on track to rise 45% over the ten year, as we reported in our blog post back in January,
As of this moment Hydro is in debt to the tune of $15.4 Billion and last year they announced that they will have to raise BC Hydro rates by 25.5% over the next 5 years and roughly 20% over the next 5 years. The amount in the last 5 years is to be determined.
So if you have been considering installing solar panels for your home, now is the time to speak with Mark at Novo Solar Systems to understand how you can reduce your BC hydro bill with a system that generates clean energy for 30 years with no maintenance.