Let the Sun Pay your electricity Bills with Net-metering!
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Disclaimer: Sinergia Mundial makes no representation, warranty or assumption of liability regarding the use of the estimation as we are using data provided by other parties (such as PV module specs) and makes calculations based on assumptions which may or may not prove to be valid (such as weather).
A: Not at all. Solar energy is more than a trend – it’s here to stay. In 2017, a Dutch researcher reported that predictions about how solar energy would decline are flat out wrong. Rather, the use of solar energy is growing exponentially. Globally, there are 305 gigawatts of solar energy capacity.
A: Actually, Ontario has more sun hours than Germany, which claims the title of “The World’s First Renewable Energy Economy.”
A: Absolutely not! The solar panels produce energy when the sun is up. When the sun isn’t shining, customers buy electricity from the utility company. The customer only pays for their net electricity use. This is known as “net metering.”
A: Yes. When that happens, the excess solar energy is send back to the utility company, and the customers receive a credit on their bills, that can be carried for 12 months.
A: The important thing to remember is that solar panels are an investment. You will definitely see a return on them.
Let’s look at electricity prices in Ontario. According to research from the Fraser Institute, prices skyrocketed between 2008 and 2016 – there was a 71% increase. Between 2015 and 2016, prices went up 15%. If rates continue to rise at this rate, we could be paying 60 cents per kilowatt hour in 20 years.
Now, what happens if you install solar panels? In 20 years, you could save up to 85% on your electricity bills. For instance if a family expects to pay 48,000, they could save 40,800
In addition, the cost of installing solar panels will keep falling. According to the Solar Energy Industry Association, the price of solar panel installation has fallen 67% since 2011.
A: Just the opposite, actually. Solar panels can increase your property’s value. Studies have shown for each 1 KW of solar panels installed, your home’s value could go up by $6,000 (This varies per city/province).
A: Insurance companies are aware of the growing popularity of solar panels. In Ontario, some insurance companies have developed specific coverage or additional coverage to existing policies to protect solar panels from damage.
A: The FIT and Micro-FIT incentives already ended, and this makes sense, as systems are now more affordable. Despite this, the incentives right now are the savings on energy bills, as a family could reduced them up to 85%. Contact us to learn more, as some cities, such as Toronto, offer low-interest financing to improve your home’s energy efficiency.
For Financing your system, Contact us , we have a team who could help to find a solution for you.
Is there a question you have that wasn’t addressed here? Contact us at 647-785-5535 to learn more about why solar panels are an excellent investment for your home or business!