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Canada has introduced a groundbreaking incentive designed to boost investments in clean energy technologies, particularly for commercial projects. Announced as part of the 2023 Federal Budget, the Clean Technology Investment Tax Credit (CT ITC) is a refundable tax credit aimed at encouraging businesses to adopt renewable energy solutions like solar power.
For more information, visit the official Canada Revenue Agency page on the Clean Technology ITC.
Renewable energy has gained significant momentum in recent years, with solar power emerging as a promising solution. Apart from its environmental benefits, solar energy can also have a positive impact on property values. In this blog post, we will explore several studies that highlight the correlation between solar panels and increased home values. The following studies provide empirical evidence supporting this claim:
Lawrence Berkeley National Laboratory Study (2019): A study conducted by the Lawrence Berkeley National Laboratory analyzed over 22,000 home sales across eight states. The findings revealed that, on average, solar homes commanded a price premium of approximately $4 per watt of installed solar capacity. For a typical 5-kilowatt system, this equates to an increase in home value of $20,000. Source: Lawrence Berkeley National Laboratory Study (2019)
Zillow Research (2020): Zillow, a renowned online real estate marketplace, conducted a comprehensive study on the impact of solar panels on home values. The analysis concluded that homes equipped with solar energy systems sold for an average of 4.1% more than comparable homes without solar installations. This study demonstrates the positive financial impact of solar panels on property values. Source: Zillow Research (2020)
Appraisal Journal Study (2021): Researchers conducted a study analyzing 2,000 solar homes across six states. The study revealed that solar panels, on average, increased property values by $14,329. Moreover, the research highlighted that solar homes tend to sell faster than homes without solar panels. These findings emphasize the market desirability and added value associated with solar installations. Source: Appraisal Journal Study (2021)
In every installation we perform, the panels are installed in the optimal areas of the roof for sun exposure. Typically the south, east and west arrays of your roof. This ensures that those areas get the most sun. Solar panels are smooth and angled toward the sun, snow will typically melt or simply slide off of the panels during and shortly after a heavy snowfall. The effect on production is negligible.
Absolutely! While the shorter days do effect the amount of sun exposure in winter, UV rays do continue to allow power production during all the hours when the sun is out. When our consultants project your annual power production, these factors are taken into consideration ahead of time.
The solar power production of your panel system is dependant on sun exposure, not heat exposure. Cooler temperatures can actually yield greater efficiency than extreme heat.
Home owners in Ontario have seen their highest hydro bills ever. Many on the internet will complain about the reasons why. Instead, we think it’s more productive to focus on what we can control, so here are some tips that will help homeowners keep their bill down.
How many people actually read their hydro bill beyond the “Amount Due” section? Unfortunately, very few. The area worth reading is the part that shows the 3 different prices you pay for power that you use, “ON PEAK” (highest price) “OFF PEAK” (lowest price) and “MID PEAK” (middle price). “OFF PEAK” is usually evenings after certain times, weekends and holidays when hydro is at its lowest price. If you shift your laundry and oven use to those times, you will chop your costs on those necessities in HALF!
According to shrinkthatfootprint.com the better sealed and insulated your home, the less energy she will need to keep you warm or cool. Before you start tearing your home apart in the pursuit for an airtight seal, consider starting by upgrading weather stripping, this is an inexpensive way to improve the seal of the home in areas where the most air can get in or out (entrance doors and large windows).
Often home owners will turn their heat or air conditioning on or off depending on their comfort level in the home. This can lead to your unit using more power then it needs to. Try walking for 10 minutes, then try sprinting for 2 minutes then walking for two minutes and repeat that for 10 minutes and see which one takes more energy. That’s exactly how your heating and air conditioning units work. Setting consistent, comfortable temperature will keep your units at a steady walk which will in turn save energy.
The harder it is to breath, the more energy you use. The same is true for your heating and air conditioning units. These units use a large portion of power for your home and their efficiency will keep dollars in your pocket. Change your filters every season and see the impact it makes on your energy efficiency and air quality.
Families- Often kids today are tied to their electronic devices. Getting them out of the house and in nature will give them a greater appreciation for what’s out there in the world. While you’re out, the TV’s not on, the lights are off and your air conditioner is not working as hard to keep the place cool. Doing this consistently will save energy and put money in your pocket.
Swapping out about 20 LED lightbulbs could save you about $200/year in energy costs. No brainer
According to energystar.gov, appliances make up 12% of energy costs. This is an area where being cheap can cost you more in the long run. Look for EnergyStar rated appliances at https://www.energystar.gov/products/appliances.
What’s the point of all those big windows if you don’t use them? Open the blinds and let the light shine in! It’s a no brainer and doesn’t require any financial obligation, just use natural light as much as you can in your home, not only will you save money, but you’ll likely feel better too.
Energy efficiency has become a popular subject among builders and home buyers alike. Most reputable builder’s today are shifting their focus to energy efficiency and hopefully moving in the direction of energy independence. Be sure that your builder’s representative can educate you on the energy efficient features of the home you’re buying.
Whether you’re retrofitting your existing home or buying a new one. Adding solar panels to your roof in many cases will produce enough if not more power than you need to power your home. There are two ways to do this currently in Ontario, MicroFIT or Net Metering. The MicroFIT program is a program where, if approved, the Ontario government will buy the power produced by your panels at a fixed price for 20 years. For 2017 that price is 28.8 cents/Kwh, which can offset your hydro bill entirely and in most cases have excess savings left over. Net Metering is a program where the power generated by the system goes to power your home directly, if you need more than it produces then you only use hydro for the difference. If you use the same or less that it produces then you essentially don’t have a hydro bill. Excess power goes into the grid and the hydro company will give you credit for that power. The plan for many in Ontario is to put those credits towards the winter months when the days are shorter.
There are both small and big ways that you can make a difference for your family and your neighbours by following any or all of these steps. We at Gala Energy hope that you find this blog valuable and helpful.
