Price is always a major consideration on solar installations. Though most of our clients recoup their initial investment (and more) over the life of their solar panel, that higher upfront cost to purchase and install can repel many homeowners.
So, to help make the move to green energy easier, we’ve gathered various grants and other incentives below for your convenience.
Lethbridge-specific rebates
SunRidge Builtgreen Homeowner Rebate offers up to $3,500 in rebates for new homes being built in the SunRidge Development that meet a variety of upgraded environmental performance targets.
Canada-wide rebates
The Greener Homes Program is a federally-run initiative offering an interest-free loan of up to $40,000 for energy-efficiency improvements made to your home, including solar, water heating, and more.
*Application intake for the grant portion of this program ended in April 2024, but the interest-free loan is still available. Be sure to start your application now to ensure funds are allocated for your project. Once you are approved for the loan, you have a full year to actually complete the installation.
The Clean Energy Improvement Program (CEIP) is a new financing option for homeowners looking to leverage solar energy. The program offers competitive interest rates and repayment terms up to 25 years and is paid off through the property tax bill.
Unlike other loans, the CEIP is tied to the property, not the owner. That means if you sell the property, you will not be stuck paying off solar power that no longer benefits you.
*Applications will re-open in 2024, check the above link regularly for updates.
Saving on your electricity bill with Spot Power
No matter how much you save upfront on installation, the real savings will last throughout the lifetime of your solar panels (25+ years).
To ensure you get the most out of your solar, we’ve partnered with Spot Power – a green energy provider.
With Spot Power, micro-generators (like homes with solar panels) can not only sell energy back to the grid but can also choose between two optional rates, allowing the homeowner to save the most money. Selling power back for these higher rates greatly reduces your payback timelines and improves your ROI.
How it works
Spot Power offers a ‘high’ and a ‘low’ rate.
Each rate covers both the price the homeowner pays to purchase electricity from the grid and the price they get when they sell it back.
| High Rate (as of April 2024) | Low Rate (as of April 2024) |
| 30.00 ¢/kWh | 11.45 ¢/kWh |
High Rate
Though it may seem counterintuitive to switch to a higher energy rate to save money, it makes sense when you can sell energy back to the grid. So, when your solar panels are generating more energy for your home than it’s using, you sell that energy at the higher rate.
Recommended time: April to October
Low Rate
The low rate allows homeowners to pay less for electricity when their solar panels aren’t producing as much energy (such as during the shortened daylight seasons) and they are relying more on grid energy. But, when they can sell energy back, they get less money for it.
Recommended time: November to March
Cost Of Energy Chart (Residential Example Over 1 Year)
The great news is, homeowners only need to give 10 days’ notice to switch the rate and can do so as often as they please. That means if you’re going to be out of the house for a couple of weeks, you can set your rate high, then sell all that excess energy back to the grid at those higher rates.
Then, all that money you’ve earned while you were away goes toward paying off your electricity bill.
That’s a great way to make the most out of every watt you generate. Taking advantage of these competitive rates will significantly reduce your payback timeline.