Have you been considering making a switch to alternative energy with a solar photovoltaic system? You can get away from the standard forms of electricity and their costs by generating your own with solar panels. While many homeowners love the idea of this green source of power and its associated savings, the cost is a major worry for most families.
Fortunately, you might be eligible to take advantage of the Manitoba Hydro Rebate Program for solar panels.
This program is available for only a few more months and is accepting applications through April 30, 2018. You’ll want to take note of the potential savings found in this program. It may just inspire you to take the leap and have your solar panels installed sooner rather than later.
When you connect your solar panels to the grid, following the distributed resource interconnection procedures, you can qualify for money back on the completed project. As of right now, the rebate will pay property owners $1 per watt installed on the property. There are a few limitations to the wattage of the panels that you can install as well:
- Minimum system size is 1 kW
- Maximum system size is 200 kW
- Systems greater than 10 kW may require a feasibility study paid by the property owner
This is actually a great deal, even if it doesn’t seem like much at a quick glance. For those who install just the minimum system (1 kW), they receive a $1,000 rebate. These funds quickly offset the cost of the panels and their professional installation, particularly if you’re installing a much larger system.
When do you receive the rebate? Unfortunately, your contractor will have to be okay with waiting until you receive these rebate funds or you will have to pay them upfront. You won’t actually receive any of the money until the project is finished and passes a final inspection. This ensures that the solar panels are completed to the standard before Manitoba Hydro issues such a large sum of money to property owners.
The incentive is available to everyone, not just homeowners. Commercial properties and industrial properties can also take advantage of the rebate offered through Manitoba Hydro.
Homeowners who are interested in solar panels but still can’t afford it may want to investigate their residential loan program. You can finance up to $3 per watt (with a maximum loan of $30,000) for fifteen years at 4.9 percent interest. The incentive is always applied to your loan to reduce the out of pocket cost. Any cost not covered by the loan will be your responsibility.
Switching to solar power is a great way to give back to the environment and save on your monthly electric costs. Be sure to take advantage of these highly beneficial financial incentive to reduce your cost. Powertec Solar provides high-quality solar panels and installation services. With our help and this Manitoba Hydro Solar Energy Rebate, you can make the switch to solar panels more affordable than ever.