Solar Panels installed on a home or business is a smart choice for people looking to reduce their reliance on BC Hydro and not be subjected to the constant electricity rate increases. BC Hydro is even promoting the installation of solar panels and the Net Metering Program, where your excess power is purchased from you and fed back into the grid. The going rate for the buy back of electricity if currently $0.10 per kWh. At the end of the annual cycle, BC Hydro sends you a cheque for the excess power.
A typical BC home’s roof has room for 16 solar panels, which could meet the electricity needs of an average small home for 6 months out of the year. Having solar panels power your home reduces the amount of electricity you have to buy from BC Hydro.
The two-tier residential rates that BC Hydro currently employs charges $0.0858 per kWh for the first 1,350kWh in a 2-month billing period. Once you reach the threshold, the rate jumps to $0.1287.
That $0.04 jump to tier-two can get expensive. Having solar panels installed on your home can help you stay in the first tier for most of the year, which helps recoup your investment in solar power.
This is a comment we hear a lot at Novo Solar Solutions. If we compare sunlight hours in Germany, who currently leads the world in PV installations to Vancouver, we see some interesting results.
So as you can see, Vancouver has more sunshine hours and days than the global leader in solar installations.
The reasons our customers install solar panels to generate their electricity are varied but the majority want to reduce their reliance on BC Hydro and the ever increasing electricity rates.
Some of our customers own electric cars and want to charge their car every night using the solar panel system. That scenario is about as energy efficient as you can get.
Others see a solar panel system as a way to increase the value of their home.
Whatever your motivation, the time to put solar on your home or business is now. Solar panel prices are at an all time low and with Hydro rates scheduled to increase over the next ten years and beyond, solar is a wise investment that can pay itself off in roughly 9-15 years depending on the system and location.
This report will help you understand how power you can generate at your home or business. The results may surprise you!