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How to Save Money with Solar Power

Solar Energy | 6 October 2022

While solar energy was once regarded as a pipe dream, it has become a popular and attainable solution for homeowners and business owners alike. With the ability to absorb solar energy and provide energy even on a cloudy day, the right solar energy system can provide reliable power for every type of property. In addition to reducing your environmental impact, solar power can provide exceptional cost savings over time. As a leading provider of installation and maintenance solutions for solar energy systems, the team at BNR Electric knows that there are many benefits of solar power. That is why our team has outlined how to save money with solar power to demonstrate why these systems are well worth the investment.

Learn about solar solutions for off-grid and remote locations.

4 Ways to Save Money with Solar Power

When compared to conventional hydro power, solar power can save you money in the following ways:

1. Reduced Electricity Costs

If you live in a remote area, an off-grid solar system will allow you to run devices in your home without depending on power from BC Hydro. This allows for exceptional cost savings over time that quickly offset the price of panel installation. Grid-tied systems also drastically reduce energy costs throughout the year, with some properties attaining complete energy independence depending on the size of their system and the amount of energy they consume.

2. Generating Additional Income

By utilizing solar panels that are connected to the grid, homeowners can sell excess electricity back to BC Hydro. This allows for additional income alongside cost savings, optimizing electrical costs for your home. It is important to note that not all homes can be connected to the grid, so it is crucial to contact an expert to see if your home is eligible for a grid-tied system.

3. Increased Property Value

As solar power continues to grow in popularity, solar panels have become a highly desirable feature for any home.  Installing a grid-tied or off-grid solar energy system will significantly increase the value of your property, further increasing value and return on investment.

4. Various Incentives

Although BC does not currently have any rebates at the provincial level, it is the only province that offers total PST exemption for solar power. There are also many other incentives available to home and business owners from BC Hydro and other companies. These benefits allow you to minimize costs, further saving you money over time.

To learn more about the benefits of solar power or to inquire about solar panel installation for your home or business, please reach out to our team at 778-704-0312 or through our contact form. Our experienced electricians will work with you to deliver the optimal solution for your precise needs.

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