On April 15th, 2017 the Alberta government mandated eligible solar installations on a residential or commercial building would be eligible for up to a 35% rebate or $10,000 on a total system install. The incentive was designed to make financial access to renewable sources of energy easier for the homeowner as there were no financing options available. And while the rebate has been in the market past two years, it is debatable as to its continued existence following the upcoming election on April 16th.
What does the rebate mean for you?
Like any rebate, there are requirements that determine the eligibility for the rebate. The system must be installed on your residential or commercial property and attached, the property must be within the province of Alberta, and the designed system must be grid-tied. But what is the cash back value? What will the government give you to install a solar array on your roof.
In terms of numbers, the general rule is a 35% rebate on the total cost of the system and installation price with a cap of $10,000. On top of this rebate, the municipal government of Edmonton added a rebate of $0.15 per installed Watt on residential systems. In general terms, you can qualify for up to $12,000 off your system if you live in the city!
For a better idea of total savings, the best tool that we use as solar designers is Alberta Solar Calculator located on The Solar Energy Society of Alberta website. It’s as simple as inputting your numbers and the rest will be done for you; if you don’t believe us, just try for yourself.
What if I want to wait?
If you want to maximize on your savings, there is no better time than now. However, we understand that invest in a solar energy project on your house is a very large investment; waiting will always be an option. The price of solar panels is still declining in price, and is now one of the cheaper providers of energy. But with no other rebate than that of the provincial and the municipal funds, some families may find it hard to invest and/or finance. Alberta’s rebate eases that burden; but we have received confirmation that, dependent on which party gains office, the rebate will be scrapped.