Grid Tie Solar Panel Electric Systems
Compare with Off Grid Systems
With a Grid Tie solar panel system you generate power through your solar panels and sell ALL of that power to your hydro company at a preferred rate (often guaranteed for 20 years). You will then buy electricity (including your clean solar electricity that you produce) as you normally would however you will buy this power at the standard lower rates for electricity that we all pay.
To take part in this Provincial Solar incentive program, (called the MicroFIT program in Ontario), you would be required to apply to the Ontario Power Authority for approval. To be eligible, you are required to own your home and your system cannot exceed 10 kW’s in total. Your Solar installation company can help you navigate through the approval process. ( In case you want to know if your home is fit for solar you can find out the requirements here).
If you look at your hydro bill, you’ll see that here in Ontario, we all buy our electricity at a rate of 6.7-12.4 cents per kWh (depending on the time of day). Under the MicroFIT program, generating electricity with solar power and selling it to the grid will pay you a premium rate per kWh (current June 2013 MicroFIT rates are at 39.6 cents per kWh) and that rate is guaranteed for 20 years! Since the average Solar system costs between $25-$40,000 before taxes, you can expect your investment to pay for itself in about 8-10 years. As your OPA contract runs for 20 years, the remaining 10-12 years will be money in your pocket.
If you’re curious about your home and want to see how much a Solar system on your roof can generate, please feel free to contact us or call us at 1-866-976-3749.
Author: Derek Wilson