How to Save with Solar
It’s a stress all of us homeowners can relate to; paying your bills at the end of the month, and realizing you’ve been hit with a higher than expected charge on your utility bill. According to the Canada Energy Regulator, electricity rates have, on average, increased faster than the rate of inflation. And that’s not projected to change anytime soon (or likely, anytime ever). Some provinces allow you to choose plans to better suit your energy needs and help cut back on costs, like time of use billing. Others, like PEI, provide a flat rate on kWh. In other words, you have no control over what you’re paying, and when those rates hike up, you’re left with no choice but to fork over the money. That’s where the beauty of solar power comes in. Generating your own electricity with solar panels protects you from those scary rate increases, and is a more affordable option long-term.
So how is it more affordable?
Once you get your free solar assessment and meet with one of Sunly’s solar advisors, you will get to see multiple payment options and be able to choose the one that’s right for you. Let’s say you’ve decided to take advantage of the 0% interest, and you’re paying off your panels over a 10 year period. The contract you’ve signed with Sunly to pay down those panels is locked in, unlike your utility provider’s rates. During the repayment period, the savings on your electricity bill can go towards covering the cost of the panels. The best part; when you’re all paid off, you’ve got your very own energy source that is helping you save money and keeping your monthly costs down!.
Now let’s talk about that utility bill. On average, Sunly clients offset their electric bill by 76% (some clients’ panels even fully offset their utility bill)! Let’s say your hypothetical panels are producing 76% of the electricity you need. Now you’ll still need a little extra from your utility provider, but your bill is slashed by 76%. At the end of the month when that utility bill comes in, rather than paying the usual $100 you’re charged for your electricity from your utility provider, you’re paying $24. That’s a huge difference, especially as your utility providers rates increase, and that $100 bill you used to get from them grows every year. That’s just an example to illustrate how much solar panels can save you, especially in the face of ever-growing electricity costs.
We all want to save money where we can, but taking a leap like going solar can be a scary decision. With some research though, it’s clear to see how much value that decision can have. Being able to produce your own electricity and no longer rely on providers who can change their rates at any given time is a long term investment that’s better to hop on sooner than later. Prices for just about everything are on the rise, with electricity being no exception. That’s why it’s never been a better time to invest in something you use every single day, something you can’t live without. Stop being at the mercy of your utility provider, and start making your own power!