Ontario Save on Energy Solar Incentives – Get Up to $860,000 Back
Get up to $860,000 back from the Ontario Government on your solar energy investment
When combined with the Federal 30% ITC, equals a 60% discount from market prices, and enables a solar project to achieve a 3-year simple payback.
What is The 'Save on Energy' Incentive?
Systems connected on a ‘load displacement’ basis do not export kWh to the grid. All kWh generated by the solar system are ‘self-consumed’ by building loads as they are generated.
Batteries can also be incorporated in larger systems.
Large commercial and industrial electricity end-users can now take advantage of a powerful new incentive under Ontario’s Save On Energy program. This incentive, combined with the Federal Government’s 20% Clean Energy Investment Tax Credit, can result in a 3-to-4-year simple payback for solar energy investments.
Connecting a solar generator on a ‘Load Displacement’ basis in Ontario now attracts an incentive of $860 per installed AC KW, up to a maximum of 1MW. Some larger projects can also apply for a larger incentive, equaling up to 50% of the capital costs.
Both Class A and Class B consumers can take advantage of this benefit.
For Class A consumers, a large solar generation system can reduce your Peak Demand Factor, and Global Adjustment charges.
Solar is the cheapest electricity source
On a life cycle cost basis, solar energy is cheaper than electricity from the grid at today’s prices.
If we add up all of the capital and life cycle operating costs for your system, and divide that $ figure by the total amount of electricity that your solar generator will produce over its lifetime, we can see that solar can be up to 74% cheaper than electricity from the grid – at today’s prices.
We can see that reflect in the total cost of electricity over time.
We can also express that in the cost of every kWh.
Faster Simple Paybacks
The bottom line is that if you can take fullest advantage of the new Ontario Load Displacement Incentive, then your project will achieve the fastest possible simple payback in commercial solar today, in any market.
Ontario really is the best place to invest in solar energy generation right now.
Why Alectric Renewables?
Alectric Renewables specializes in the development of commercial solar PV solutions for building owners, including systems operated on the basis of load displacement.
We have designed and supplied systems for Panasonic, Katoen Natie, Johson & Johnson, Aviva Insurance, PDI Bulk Logistics, and many other firms.
Read more about Ontario’s new ‘Save on Energy’ commercial solar incentive.
Contact Alectric Renewables to request your free site evaluation today.
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