Going solar in 2022, Albertans are choosing a more dependable way to reduce their carbon footprint and joining Canada in the fight against global warming. All of this in addition to reducing their family’s yearly power expenses, while also increasing the value of their property.
There are several additional environmental and home advantages that go hand in hand when making the change.
So, why not go solar in 2022? When the cost of going solar has never been lower.
The prospects for solar energy
According to the World Energy Outlook 2020 (IEA) by the International Energy Agency, solar power technology has been recognized as the lowest-cost form of energy. The price of traditional electricity has almost doubled in the last eight years compared to the cost of solar energy, resulting in a significant increase in the use of renewable energy sources.
Considering the nature of solar power as an upfront investment, the main expenses associated with a residential rooftop solar panel system are the purchase and installation costs. The majority of these initial expenditures may be recovered over time through the savings made by switching to solar.
There are also incentive systems put in place by the Canadian government to assist its people and their decision to invest in solar power for 2022. The following are some of the initiatives:
The Greener Homes Program is a federally-funded program that provides $1 per watt up to $5,000 for solar installation for qualified participants. Before installation, you’ll need to have an Energuide Audit, which costs $600 and is available through a government grant.
The Agricultural Clean Technology Program is a mixed assistance stream (adoption and research/innovation) for farms and other agri-food enterprises. You may recover up to 50% of your project funding if you meet the program criteria.
The Clean Energy Investment Program is another solar energy financing opportunity for homeowners. The program is paid off through the property tax bill and offers competitive interest rates and repayment terms ranging up to twenty-five years. The CEIP is not linked to the owner; instead, it’s connected to the property. That means if you sell your home, you won’t be responsible for paying off solar energy that no longer benefits you.
Solar power is less expensive than conventional energy
The year 2022 is the time to start taking control of your power rather than renting it. With traditional power supplied by our hydro firms costing more each year due to growing electricity expenses, now is the best time ever to consider going solar.
The cost of traditional power has nearly doubled within the last eight years. Meanwhile, solar energy costs 20-50% less. Thus, solar panel systems are a smart financial decision and a dependable approach to lower your emissions while saving money on electricity for your family.
Homeowners in Alberta presently pay one of the most expensive rates for traditional power. As a result, solar panels are the most cost-effective way of generating renewable energy.
Rooftop solar panels give homeowners several advantages in Alberta, one of which is the potential for significant savings on electricity bills.
To figure out how much money you may save with solar power in 2022, first, you must calculate how much money you currently spend on electricity each year. To forecast what utility rates will be in the future, take into account the ever-changing nature of electricity prices.
When you’ve finished, you may begin comparing the cost of utility electricity with residential solar.
Keep in mind that electricity prices are increasing yearly. As solar energy is a long-term investment, the only additional expense connected with a residential rooftop solar panel system is the cost of the initial setup; in addition to any supplementary electricity expenditures that you may incur if your solar panel system can’t fully offset your house’s energy use.
The average Albertan homeowner may expect to save approximately $10,000 and $30,000 throughout their solar panel system’s life immediately after installation.
Why Go Solar in 2022?
Investing in solar energy in 2022 is a smart financial decision for any Alberta house owner wanting to reduce their monthly cost by investing in long-term savings. With the lowest cost per kWh for generating renewable and environmentally friendly power in Alberta compared to conventional energy.
Not only will installing an eco-friendly solar panel system add value to your property, but it will also offer you a secure method for protecting yourself and your family from rising utility costs.
Why not resolve to go solar in the new year? Panel Upgrade Experts, an experienced solar panel installer in Calgary, is here to help you improve your financials with a residential rooftop solar panel system.
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