SaskPower's Net Metering offers Saskatchewan residents a unique opportunity to use solar electricity to lower operating costs. In the case of Farmers, they use their solar electricity first to reduce or remove their power bills. If over generating solar power, the electricity flow's back to the SaskPower grid as a credit and applied to later power costs. Some farms build a good Kw/Hr credit during the summer to offset their purchases during the winter. Since farms have the advantage of large areas for ground mounts, these systems are the most economical to install.
What's in it for Saskatchewan Farms, Ranches, Ag operations and commercial buildings? Thirty years' worth of electricity for 7-10 cents per kilowatt-hour. (Current 2020 power rate is 16+ cents)
· Control of current power costs: A solar system can produce up to 100% of the annual power needed to run a farm. With manufacture and other incentives, solar electricity is significantly lower cost than utility power. Add future rate increase (estimated at 5%-7% annually), and solar electricity gets cheaper every year.
· Lower Kilowatt Hour Costs - Typical Commercial Solar Systems will fix electricity costs at 7-12 cents per Kilowatt Hour. (Installed system costs divided by the production over the system life + 4% power cost annual escalation). Typically, Solar Electricity is 25%-50% less cost than buying power from utilities - and every rate increase makes solar an even better return on investment.
· Investment: A solar system typically yields 7% - 14% rate of return on the cash invested. Since solar systems last 30 years or more, it's like a long term GIC. Farms/Commercial operations can also take advantage of Class 43.2 Accelerated Capital Cost Allowance for an even better rate return. (Be sure to speak with your accountant to include in tax returns)
· Empowerment: You are in control of your power. Rising costs will not affect you in the same way and will add value to your your property.
Contact us today. We can help power your future.