Solar systems can produce 20% to 100% of the annual power needed to run a home. With the incentives, the electricity off the roof is close to the same as buying power from Hydro One. Add future rate increase and the solar electricity gets cheaper every year.
Invest in Your Future:
A solar system typically yields 5-10% rate of return on the cash invested. Since solar systems last 30 years or more, it’s like a long term and low risk GIC. Commercial customers can take advantage of Class 43.2 Accelerated Capital Cost Allowance for an even better rate return.
Rising costs will not affect you in the same way. Plan for lower costs when you retire, and enhance the value of your property. A property that generates its own power is worth more!
Save the Environment:
You now can participate in a global effort in reducing Greenhouse gas emissions, and air pollutants. That means you can help fight climate change and health problems while financially benefiting from your solar system. This is a true WIN-WIN scenario.
Take Advantage of Government Incentives:
You have until the end of 2017 to fill out an application with IESO to start getting paid a guaranteed rate of $0.31/kWh for the electricity you generate over a 20 year term. After 2017 the program will be replaced by Net-Metering which is still a great option but does not offer you cash incentives. Instead you will receive credits for the power you generate which can be used for up to 12 months. The credit you receive will be calculated based on the current electricity rates and not a guaranteed rate.