If you look around yourself you will notice more solar panels than ever. This is because today solar panels are more of a need than a want. While it is a good thing it has only been possible because the governments of various countries have launched schemes, rebates, incentives, and related programs that have made solar panels more affordable. Solar Panel rebates in BC are doing this work for their residents. Similarly, you have tax benefits and other provisions for doing this job in different countries. So in this article, we will look at incentives for solar power systems in B.C. which are responsible for popularizing solar panels there.
Solar Panel Rebates in BC
Solar Panels are very important for the future as they provide us with clean and green energy, however, their huge costs scare a lot of people away. By offering rebates, tax credits, subsidies, and other such benefits the government can easily push the people to make the necessary switch and that is exactly what solar panel rebates in BC have done.
Let’s look at a couple of rebates and grants that are available to people living in BC.
1. Canada Greener Home Grants
Cars, schools, offices, and various other buildings make up 18% of all greenhouse gas emissions in Canada. To make the lives of BC residents efficient the government came up with the Canada Greener Home Grant. Under this grant, a person may be eligible to get up to 5,000 dollars. These funds can be used to upgrade your primary residence. You need to make it more energy efficient by installing an on-grid solar panel on the ground or roof of your home. You may further be eligible for another 1,000 dollars for an energy storage device such as a battery.
Also See: What are Solar Rebates in Victoria?
2. Solar Tax Rebate for Businesses
There is only one solar energy incentive available to businesses and it is the enhanced depreciation under the Capital Cost Allowance scheme. Under this incentive, a business can deduct 100% of its total assets in the first year of purchase.
Other benefits that you can avail of in BC are getting interest-free loans from Canada Mortgage and Housing Corporation or you can also qualify for getting a portion of your HST or GST back.
Also Read: Are Solar Panels Worth it in BC?
BC Government Energy Rebates
There are various government energy rebates that the people of BC are offered and benefit from. These benefits go a long way in taking off some of the financial burdens that a resident or company might face and so it is worth looking at the following government energy rebates.
1. Vancouver Heritage Energy Retrofit Grant
The Vancouver Heritage Foundation is a nonprofit organization that is offering rebates of up to 14,000 dollars for various purposes. If you are looking to make your house energy efficient, upgrade your home that was built before 1940, or are registered with Vancouver Heritage Register then you are eligible for this grant.
2. Energy Conservation Assistance Program
3. Better Homes and Home Renovation Rebate Program
Clean BC along with BC Hydro and FortisBC offers dozens of energy efficiency rebates. A wide range of products and services qualify for this rebate such as heat pumps, heating and water equipment, and more. Under the municipalities rebate top-up program, 13 municipalities are offering rebate top-ups. The latter can be combined with the better homes and home renovation rebate program.
Also See: Can You Claim Solar Tax Credit Twice?
4. Kamloops See The Heat Program
The residents of Kamploos are allowed by the City of Kamploos to loan a thermal imaging camera that too free of charge. With that, they are also allowed to get the free draft-proofing kit for electric switches, doors, and windows.
5. RDN Graded Site-Cut Timber Program
In Lantzville, the district of Nanaimo is offering an incentive for renovated projects or home construction. That uses graded timber located on the site for structural use.
Also Read: Are Solar Panels Worth it in Arkansas?
Incentives for Solar Power Systems in B.C.
Solar Panel rebates in BC are not the only thing that has encouraged people to consider getting solar panels. There are also incentives attached to solar power systems that make getting a solar panel an even more attractive option. And there are a few such incentives that we shall now look at.
1. PST Exemption
For starters, you get a PST exemption. And not just for solar PV equipment and devices but also for solar panels, wiring, controllers, and inverters.
2. Net Metering
There is a good chance that your solar panel may produce more energy than required. This energy can be sold back to the grid and the amount from the same can be used against your current and future billing cycles.
Also See: Net Billing Vs Net Metering
3. Renewable Energy System Incentive
If you own a home in RDN electoral areas or the district of Lantzville then you can have money when you decide to upgrade energy-efficient technology in your home. By installing a solar PV system in your home you become eligible for a 250-dollar incentive. Also from 1st April 2015, a rebate of 400 dollars is available for renewable energy systems which require and obtain a development variance permit.
So in this article, we have covered solar panel rebates in BC which tell us why solar panels have become so common here. Countries, where such provisions are not offered now can learn from BC government energy rebates and introduce the same to convince the people to make this nature-friendly switch.