Financial Benefits and Incentives of Solar in Calgary
1. Maximize Your Savings
Calgary is an ideal location within Canada for solar. This area offers homeowner one of the best opportunities to maximize their savings with a renewable energy.
An Optimal Climate
As one of the sunniest cities across Canada, Calgary sees over 2,300 hours of sunshine each year. With this abundant natural resource and the optimal cool temperatures, Calgary is well situated for high producing solar systems.
Lower Energy Bills
By generating your own electricity, you can significantly reduce your reliance on the grid. The average Alberta household uses approximately 7,200 kWh of electricity per year, costing between $900 and $1,200 annually. Solar panels can offset a substantial portion of these costs, depending on your system size and energy usage.
Protect Yourself against Rising Energy Costs
Energy costs across Alberta are volatile and consistently rising. Producing your own energy through solar locks in the cost of the energy you produce.
Net Metering and Solar Clubs
Albertans can sell any unused electricity back to the grid through net metering. Your profit will show up as a credit on your electricity bill. To make this deal even sweeter, Solar Clubs provide premium utility rates for those with solar energy systems. They allow you to switch between high and low rates to maximize your profit from selling unused energy. The combination of joining a solar club and net metering can greatly improve your solar energy savings.
Sell Carbon Offset Credits
Your solar energy system will produce carbon offset credits by creating clean energy! You can sell these carbon offset credits for an annual cash return for up to 10 years. We highly recommend working with a carbon broker who can manage the details of this process on your behalf.
2. Government Rebates and Incentives in Alberta
The provincial and federal governments are committed to their Net Zero goals and offer financial incentives to make solar more affordable for home-owners.
Canada Greener Homes Loan
What It Is: A 10 year, interest-free loan providing up to $40,000 towards energy-efficient upgrades, including solar panels.
How It Works: Homeowners can apply to the program after completing a pre-installation energy audit by a certified company. After their system is installed, Homeowners can perform a post energy audit and submit the receipt for their new solar system for funding to be released.
Municipal and Regional Incentives
What It Is: Additional grants and financing incentives are available for specific cities and regions across Alberta.
Check for Financing in My Area
3. Your ROI
Upfront Costs
The cost of installing solar panels in Calgary ranges from $12,000 to $30,000, depending on your home’s size, installation complexity, and energy needs. Although solar is a substantial investment, financing options make monthly payments more affordable, and can reduce the overall cost by up to 40%. Many homeowners prefer paying off the system they own, and less each month of their electricity bill.
Payback Period
The typical payback period for solar systems in Calgary is 8–12 years. This means that within this timeframe, your energy savings will have covered the cost of your solar installation. Quality solar panels last 25–30 years, meaning that you can enjoy 15+ years of virtually free energy.
Increase in Property Value
Studies show that homes with solar panels sell faster and for an average 4.1% higher price. Homeowners who can market their property as environmentally conscious and economical stand to gain in the Calgary real estate market.
4. Environmental Impact
Switching to solar energy can significantly reduce your environmental impact and carbon footprint. Even a small solar system can reduce CO2 emissions by 1 to 2 metric tons each year! This is equivalent to offsetting the pollution from driving 12,000 km. Over the lifespan of your system, this contribution to clean energy is significant.
Want to know if solar is right for your home?
Contact Solun Energy for a free quote and discover what solar can do for you. Our experts will assess your energy needs, roof shape and size, and solar potential. Our turnkey solutions make switching to solar simple and easy.
Let’s harness Calgary’s optimal solar potential!
