BC Hydro Rebates for Solar Panels and Battery Storage?

BC Hydro is offering rebates of up to $5,000 for grid-connected solar panel installations and up to $5,000 for battery storage systems for its residential customers. Rebates are also available for Indigenous communities, social housing, multi-family buildings and businesses. More details can be found here.

Greener Homes Loan?

The Canada Greener Homes Loan provides an interest free loan of up to $40,000 for energy efficent home retrofits, including renewable energy systems such as solar. Owners of Multi-Unit Residential Buildings may be eligble for the grant.

What are My Choices to Get Solar?

There are a number of straightforward and creative options available. Equipment costs for solar PV systems have decreased almost 75% since 2008, making solar more accessible for homeowners and businesses to implement today. There are benefits to both buying and financing a PV system. Financing can be an easier option for many, as it doesn’t require buying the system upfront, but carries the additional cost of financing reducing rate of return.

For those seeking to build community around solar and save more money, starting or joining a solar panel bulk buy initiative can be a great option, e.g. the Fernwood NRG initiative.

PST Exemption:

In British Columbia, all solar equipment costs are exempt from PST (panel, wiring, controllers, devices, when they are all sold as part of a solar PV system). This reduces the upfront cost of your PV system by 7% (excluding batteries).

Self Generation:

Self generation (formerly Net Metering) is a program whereby residential and commercial BC Hydro customers can reduce their net energy demand by supplying their home or business with solar electricity and exporting surplus generated energy back onto the grid for a generation credit towards their future electricity use.

Here’s how it works. When the sun is available on your solar modules, their power will be converted by the system and fed into your home or business first. The loads in your home will consume this power and any excess power will flow into the grid. On the anniversary date (March 1) BC Hydro will credit excess generation credits on your next bill at market price.

To learn more about Self Generation, please visit BC Hydro's Website.

Accelerated Capital Cost Allowance:

Accelerated Capital Cost is a federal rebate program for commercial renewable energy systems. Capital Cost Allowance (CCA) is a yearly deduction in the Canadian income tax that can be claimed on depreciable assets in the first year. As of Fall 2019, renewable energy systems are included. This permits the buyer to recover more quickly from the cost of their investment by paying fewer taxes over the coming years.

To learn more about Capital Cost Allowance, click here.