Eliminate or significantly reduce your electric bill with solar energy
One of the biggest reasons to go solar is that you can eliminate or significantly reduce your electric bill. An average monthly electric bill of $100 becomes an annual $1,200 expense. Over 20 years, that same $100 monthly bill balloons to $24,000 paid to your utility. And that’s before factoring in electricity rate increases that will likely make your 20-year energy costs even higher. Installing a solar panel system at your home or business takes you out of this cycle. See how Solar Energy Works here.
Solar Energy can help eliminate your hydro bill
Going solar can eliminate your electric bill completely or reduce it so dramatically that electricity costs. Making it no longer a significant factor in your budget. Your savings with solar depend on a few different factors. These include much energy your system produces and how much you consume. However the biggest factor is the rates you would otherwise pay to your utility.
Save on your Hydro Bill each month by switching to Solar Energy
Because your savings are equal to the costs you avoid by going solar. In the long term you’ll save even more if electricity rates are high in your area. And, since electricity prices will continue to rise, your savings will continue to grow every year. Especially since systems last over the 25+ year lifespan of your solar energy panel system.
Installing a Solar Energy System help fix your Hydro Costs
Reducing one of your largest monthly expenses makes perfect sense. The benefits of solar energy aren’t just economic. Electricity prices can be unpredictable, they make managing your budget difficult. By installing a solar power panel system, you also fix your electricity costs. Making the energy cost more predictable. This is especially beneficial for anyone with a fixed income, as well as for businesses who stand to gain from a more stable cash flow. When you make your electricity costs more predictable by going solar, you also improve your expense forecasting and management capabilities
Solar Energy uses Net Metering
Using a solar energy technology to generate your own electricity and reduce your monthly costs? Then Net metering will be the ideal solution for you.
The Net Metering program is available to anyone who generates electricity. Primarily for their own use from a renewable energy source (wind, water, solar radiation or agricultural biomass). Using equipment with a total nameplate rating of 500 kW or less.
Net Metering uses Solar Energy
Net metering allows you to send electricity generated from Renewable Energy Technologies (RETs) to the distribution system. Then any excess is a credit towards your electricity costs. Excess generation credits can be carried forward for up to 11 months. Including the 11th month, to offset future electricity costs.
Electricity consumers in Ontario who produce some of their own power from a renewable resource. Consumers may take advantage of the “net metering” initiative. Net metering allows you to send excess electricity you generate from renewable resources to the distribution system. This will appear as a credit toward your energy costs. In essence, it’s a “trade” of electricity you supply against electricity you consume.
How does Net Metering Work with Solar Energy
Once you’re connected to the distribution system, your local distribution company will continue to read your meter. As they do now (though they may need to change the meter in order to be able to record the information they need). Then they subtract the value of electricity you supply to the grid from the value of what you take from the grid. What you’ll see on your bill is the “net” difference between these two amounts. If you supply more power than what you take from the grid over the billing cycle, you’ll receive a credit toward future energy bills. The credit can be carried forward for up to 11 months.
Eligibility criteria include, but are not limited to:
- You must generate electricity primarily for your own use; and
- The electricity must be generated solely from a renewable resource (wind, water, solar energy or biomass).