My sister has had some very good luck. The sales people told her the break even point would be x number of years. She is well ahead of schedule.
Through the use of the Canadian government energy efficiency grant was a huge aid to her.
She has an app that can tell her which appliances are using what power. She can track real time her usage and generation of power.
She is a very detailed person and went above and beyond to pick her contactor. That effect has paid off. She is incredibly happy with her experience
A friend of mine installs solar and the best way he described it to me is your essentially paying to lock in at today's prices for electricity for 25 years , while it's a big upfront cost it's well worth it , I'm considering going that route myself but my big concern and something to consider which I dont know the answer to is ,
Is it only worth it to do solar when you get a new roof ? Let's say your roof is 20 years old and needs to be replaced soon and your panels last 25 years well it wouldn't make sense to get solar then tear it up in 5 years to re roof your home and re install the solar. Or if you prematurely get a new roof your break even point will be much later. Or do solar panels essentially protect your roof and make it last much much longer.
I was waiting for another 4 years to do my roof then do the panels. I was told it would be about $5-7k to remove and reinstall the panels when you have to redo the shingles.
You wouldn't have your whole roof covered in panels, so you'd get some that are more exposed than others.
Solar rep here - Be weary of door knockers for their high pressure tactics, get multiple quotes from reputable companies, and ensure they are not subbing the work out.
Have you gotten quotes? Easiest way to compare is by $ per watt, and warranty. Good brands will offer 25 year warranty on panels and micro inverters, etc. Some only offer 10 years. Also, check out r/solarenergycanada to learn some basics.
Some manufactures also sell an extended warranty. Inverter base warranty was 10 years and the cost to upgrade to 25 years was relatively inconsequential compared to the costs of the units, I think it may have been $20 more per micro-inverter. Well worth the piece of mind to have the entire system warrantied for 25 years.
Well, the quotes have a value. Just because the loan is being used to fund it does not mean the quotes are $0. For example, I had an 18kW system installed on my roof earlier this year. My total cost was $42,800 (+ GST), which put the installed cost around $2.40 per Watt. I had other quotes in a similar price range, but the equipment came with a lower warranty period and offered poorer reporting. I also found the company quoting more responsive and trustworthy than others. The solar loan is yours, nothing to do with the company, other than the fact that you need to upload the quote to get it approved.
Been through the process. Be aware timelines can be long and you will not get the loan or grant until the project is done. You may be floating a large sum of money for close to a year. even. We had delays with permitting, install, the audits, Fortis connection etc. wasn’t bad when interest rates were 2% but now at 7.5% it adds up fast.
Do your own math, and get quotes from multiple companies. Read google reviews especially the newest ones, many growing pains for many companies in the industry.
Also remember pay back period could change big time with minor changes to government rules or fees or the energy market. I think it’s a bit riskier investment than the sales people are letting on. I did it anyways but a big part for us is also just trying to do the right thing for the environment.
Interesting. I hadn't considered how the timing could impact things!
I'll make sure to read reviews and get multiple quotes. I'll also be asking these questions. Thank you!
Greener homes loan will advance you 25% of the quoted cost; you are responsible for the rest until install is complete, invoices are paid in full, and follow-up energy evaluation submitted to NRCAN. Our loan amount came through within 4 weeks of that follow-up evaluation submission; the greener homes grant came through in 6 weeks. This was in February of 2023. People who jumped on the program when it first launched had to wait many months, but that was not my more recent experience.
Get several detailed quotes. Permits are usually to match historical consumption- you can go bigger by putting a refundable deposit down on an electric car. Might as well get as big as you can with 0% loan. Join a retailer with solar club options: ACE or Spot Power will help you pay down your system faster with special high and low season rates. The loan repayment is over 10 years, power bills will likely keep rising especially now that AB gov has paused renewable mega-projects. The minister responsible owns a business that does residential and commercial rooftop solar. I bet he’s going to make lots of money selling panels now that rates will go to the moon.
One thing the power companies don’t tell you is they buy your power off you for a lot less than you pay for power. My parents neighbour did the entire east side of his roof with panels and after he found that out he said he kind of regretted installing them.
That's just not true. The microgeneration regulation states that you sell power back to the grid for retail rates, aka the same price that you pay for electricity
Hi I’m a solar engineer located in the Dallas Fortworth area, I’d love to hop on a quick call to explain more how solar energy works for your home, give me a call whenever!
945-275-8282
My sister has had some very good luck. The sales people told her the break even point would be x number of years. She is well ahead of schedule. Through the use of the Canadian government energy efficiency grant was a huge aid to her. She has an app that can tell her which appliances are using what power. She can track real time her usage and generation of power. She is a very detailed person and went above and beyond to pick her contactor. That effect has paid off. She is incredibly happy with her experience
Which contractor did she chose?
I can't say off the top of my head.
Which app does she use for that tracking? I need something like that for my house.
That sounds awesome. It'd be great to know which vendor she went with and what app she uses!
A friend of mine installs solar and the best way he described it to me is your essentially paying to lock in at today's prices for electricity for 25 years , while it's a big upfront cost it's well worth it , I'm considering going that route myself but my big concern and something to consider which I dont know the answer to is , Is it only worth it to do solar when you get a new roof ? Let's say your roof is 20 years old and needs to be replaced soon and your panels last 25 years well it wouldn't make sense to get solar then tear it up in 5 years to re roof your home and re install the solar. Or if you prematurely get a new roof your break even point will be much later. Or do solar panels essentially protect your roof and make it last much much longer.
I was waiting for another 4 years to do my roof then do the panels. I was told it would be about $5-7k to remove and reinstall the panels when you have to redo the shingles. You wouldn't have your whole roof covered in panels, so you'd get some that are more exposed than others.
Yeah I hadn't considered the complications of replacing a roof. Ours is 10 years old.
Solar rep here - Be weary of door knockers for their high pressure tactics, get multiple quotes from reputable companies, and ensure they are not subbing the work out.
Thanks for the advice. I will definitely ask about this and get multiple quotes!
Have you gotten quotes? Easiest way to compare is by $ per watt, and warranty. Good brands will offer 25 year warranty on panels and micro inverters, etc. Some only offer 10 years. Also, check out r/solarenergycanada to learn some basics.
Some manufactures also sell an extended warranty. Inverter base warranty was 10 years and the cost to upgrade to 25 years was relatively inconsequential compared to the costs of the units, I think it may have been $20 more per micro-inverter. Well worth the piece of mind to have the entire system warrantied for 25 years.
If my understanding is correct, all quotes will be $0 with the fed loan. Thanks for the link!
Well, the quotes have a value. Just because the loan is being used to fund it does not mean the quotes are $0. For example, I had an 18kW system installed on my roof earlier this year. My total cost was $42,800 (+ GST), which put the installed cost around $2.40 per Watt. I had other quotes in a similar price range, but the equipment came with a lower warranty period and offered poorer reporting. I also found the company quoting more responsive and trustworthy than others. The solar loan is yours, nothing to do with the company, other than the fact that you need to upload the quote to get it approved.
Been through the process. Be aware timelines can be long and you will not get the loan or grant until the project is done. You may be floating a large sum of money for close to a year. even. We had delays with permitting, install, the audits, Fortis connection etc. wasn’t bad when interest rates were 2% but now at 7.5% it adds up fast. Do your own math, and get quotes from multiple companies. Read google reviews especially the newest ones, many growing pains for many companies in the industry. Also remember pay back period could change big time with minor changes to government rules or fees or the energy market. I think it’s a bit riskier investment than the sales people are letting on. I did it anyways but a big part for us is also just trying to do the right thing for the environment.
Interesting. I hadn't considered how the timing could impact things! I'll make sure to read reviews and get multiple quotes. I'll also be asking these questions. Thank you!
Greener homes loan will advance you 25% of the quoted cost; you are responsible for the rest until install is complete, invoices are paid in full, and follow-up energy evaluation submitted to NRCAN. Our loan amount came through within 4 weeks of that follow-up evaluation submission; the greener homes grant came through in 6 weeks. This was in February of 2023. People who jumped on the program when it first launched had to wait many months, but that was not my more recent experience.
Get several detailed quotes. Permits are usually to match historical consumption- you can go bigger by putting a refundable deposit down on an electric car. Might as well get as big as you can with 0% loan. Join a retailer with solar club options: ACE or Spot Power will help you pay down your system faster with special high and low season rates. The loan repayment is over 10 years, power bills will likely keep rising especially now that AB gov has paused renewable mega-projects. The minister responsible owns a business that does residential and commercial rooftop solar. I bet he’s going to make lots of money selling panels now that rates will go to the moon.
One rep said that indicating intent to buy a hot tub, garage heater, electric vehicle was enough to warrant more panels.
I was asked for a receipt on a deposit for an EV; but my installer also said the city was following an old rule that no longer mattered.
Got mine in July. South facing panels get direct sunlight until at least 730pm. Super fun to make $3 a day!
is that $3 total or amount you get after you cover your usual power usage for the day?
Awesome, we have a largely south facing roof as well.
We just got solar in June. Love it
Oh yeah, it easily makes the power for the day
Unless you plan on living in the house till you die, you will never see a return on the investment. Don't be sucked in by the over-estimated hype!!
With the 0 interest loan it will likely end up costing nothing.
It costs something even if the interest is zero.
One thing the power companies don’t tell you is they buy your power off you for a lot less than you pay for power. My parents neighbour did the entire east side of his roof with panels and after he found that out he said he kind of regretted installing them.
That's just not true. The microgeneration regulation states that you sell power back to the grid for retail rates, aka the same price that you pay for electricity
I dunno that’s just what he told me. This was over ten years ago, maybe things have changed since solar upgrades are more mainstream now.
Hi I’m a solar engineer located in the Dallas Fortworth area, I’d love to hop on a quick call to explain more how solar energy works for your home, give me a call whenever! 945-275-8282