There are several government incentive programs that can help you turn a profit on your commercial solar system. We recommend the Net Metering program as it is flexible, least complicated and most profitable in the long run for generating your own electricity and reducing your monthly costs.
How it Works
With the net-metering program, electricity generated from the solar panels is primarily used to power your business.
On less sunny days, when your solar panels generate less electricity than is used, the power is automatically supplied from the utility grid.
On sunny days, when your solar system generates more power than is being used, the extra electricity is supplied to the utility grid in exchange for a credit. Excess generation credits can be carried forward for up to 12 months to offset future electricity costs.
A well designed 50 kW south-facing system will generate almost 60,000 kWh per year. If your hydro bill is around 17 cents/kWh, your return on investment would vary between 9-18% per year over a 20-year period. When factoring in the capital cost allowance (i.e. equipment depreciation write-off), the ROI would actually vary between 30-50% per year for the first 3 years, allowing a 2-3 year payback.
Every component is locally made and most components come with a 25-year warranty. The 40+ year lifespan of your solar system forecasts decades of energy independence as well as making your property more desirable for prospective buyers.
The battery bank supplement allows business owners to control their energy consumption by shifting loads to avoid peak demand charges as well as having the option of back-up power in the case of power outages.
- In the chance of a power outage, energy stored in a battery backed system can be used to power your business through the outage.
- Combined with solar panels, your business has the potential to operate fully off the grid regardless of a power outage.
Peak Shifting/Load Leveling
- Electrical energy can be stored from the grid during off-peak hours at a lower cost.
- Stored energy can be used to power loads during peak hours to avoid paying higher rates.
- Track and customize your energy consumption and system performance at the tip of your fingertips through the Schneider mobile application.