How does it work ?
Let’s take an example
Robert is an environmentally conscious citizen. He wants to participate in the green movement by installing a typical 6 kWp residential solar system at a total cost of $18,000, including taxes.
Financial support will provide $6,000 in financial assistance, reducing the actual investment to $12,000.
From the first year
Robert will be able to save approximately $764 on his electricity bill, with an estimated growth of 4% per year. The payback period will be approximately 12.7 years. Over a 30-year period (the warranty period for most solar panels), cumulative profits could reach approximately $25,664, as illustrated in the graph below, for a return on investment (ROI) of 7.7%, while protecting Robert from rising electricity rates.
IN BRIEF
In the first year alone, Robert could save up to $764 on his electricity bill and be part of Quebec’s energy transition.
In addition, it is important to note that during the 12-year payback period, the cost of electricity will increase annually.
Assuming an average growth rate of 4% per year, the payback period will be approximately 12.7 years. Over a 30-year period, the cumulative savings could reach nearly $25,664.
At the end of those 12.7 years, Robert will have recouped his investment. In addition, he will benefit from reduced electricity consumption for at least another 17 years (or perhaps even 27 or 37 years, given the lifespan of solar panels), with savings increasing annually.
ANOTHER GREAT ADVANTAGE