Save Big: Govt Pays 50% of Farm's Solar + Battery Costs
Unlock Massive Energy Savings with an 8-Year ROI!
Rising energy prices are squeezing businesses and farmers, but you don’t have to be at the mercy of energy inflation. With Canada’s Clean Technology Investment Tax Credit (ITC) and the Save on Energy Program, you can cut your energy costs by over 50%, achieving a return on investment (ROI) in just 8.8 years, or 11.4% annually. These programs make transitioning to clean energy more affordable and profitable than ever.
Key Benefits of the Clean Technology ITC
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30% Refundable Tax Credit: Get 30% back on eligible costs for clean energy projects.
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20% Refundable Tax Credit: If union labour requirements aren’t met, you can still qualify for 20%.
Save on Energy Program
This program provides up to $860 per kilowatt (kW) of AC installed solar capacity, further lowering your project costs.
Example: Solar and Battery Installation
Below is a breakdown of a 100 kW AC solar system and 200 kWh battery storage project:
| Item | Calculation | Cost |
|---|---|---|
| Solar Installed Cost | 100 kW x $1.75/W x 1,000 W/kW | $175,000 |
| Battery Storage Cost | 200 kWh x $500/kWh | $100,000 |
| Total Installed Cost | $275,000 | |
| Save on Energy Rebate | 100 kW x $860/kW | -$86,000 |
| Clean Technology ITC (30%) | ($275,000 - $86,000) x 30% | -$56,700 |
| Final Net Cost | $132,300 | |
| Annual Energy Production | 100 kW x 1,150 hours | 115,000 kWh |
| Electricity Savings | 115,000 kWh x $0.13/kWh | $14,950/year |
| ROI (Years) | $132,300 / $14,950 | 8.8 years |
| ROI (Annual Percent) | ($14,950 / $132,300) x 100 | 11.4% |
Why Invest in Clean Energy?
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For Farmers: Cut costs for irrigation, grain drying, and livestock operations while stabilizing energy expenses.
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For Businesses: Reduce grid dependency, meet sustainability goals, and attract eco-conscious customers.
Act Now
The Clean Technology ITC and Save on Energy Program are available now but will phase out over time. Don’t wait to start saving on your energy costs.
Take control of your energy future today!