Solar Power – My House is not Suitable

I had a representative from Certified Solar over earlier this week to get some details on installing photo voltaic panels on my house and then selling the power back to the province.

Apparently my house is not suitable for solar voltaic panels. Ideally you need a roof that faces south or south/east and I have a roof that faces east and west. East could be suitable but there are too many tall trees in the way. I wouldn’t consider taking those down, I figure leaving the trees and using fossil fuels to power my lights  is better than cutting down mature trees. We have cut down on the electricity dramatically already.

Basically here’s how it works. It costs about $82,000 to have the panels installed. Depending on what the province decides to pay for the power, they were paying .80 cents per kw but that is under review and it is suspected to be closer to .64 cents, and estimating approx 6.1 hours of sunlight per day the return would be somewhere around $1000 per month income from the power you sell back. You then need to pay your electricity bill, which would be currently what you are using, your electricity wouldn’t change, you still buy your power from your provider, the panels don’t directly supply power to your home. Then you need to pay the cost of financing the panels, I am assuming that most people don’t have $82,000 sitting around that they could pay cash for the installation. TD Bank will finance up to $50,o00 unsecured as a line of credit for the installation. So assuming you finance $50,000 of the $82,000 at 3% amortized over 20 years, your payments would be somewhere around $276 per month plus your electricity bill. Assuming that is around $150, you would have and income of approx $574 per month from the panels.

Ideally for me, I would prefer to be able to power my house with the panels, and then sell the extra back. My goal is to reduce my carbon footprint, I am not reducing my electricity but I am supplying a source of green energy.

The province will guarantee the rate for 20 years, (if my memory servers me, it is 20, could be 25), that’s a positive of course. The expected lifespan of the panels is in line with the power guarantee. It would also extend the life of your roof of course because your roof is not exposed to the elements.

Overall a positive I think. I’m disappointed that I can’t do it. I would like to connect with anyone who has done it though and get their feedback.

 

 

 

 

 

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