Rebates, Incentives & Grants for Installing Solar Power in British Columbia (BC)
Many homeowners and business owners in British Columbia (BC) often wonder ‘Is there a grant for solar panels?’, the answer to which is ever-changing. As BC solar rebates and grants are being continuously updated, it’s understandable why home and business owners are left scratching their heads. But the good news is, Canada is making moves to become a greener country – with BC at the forefront. Through a combination of solar power grants for homeowners and commercial solar grants for businesses, solar energy is becoming more accessible and affordable every day. From tax incentives for solar powered buildings to federal grants to help cut the cost of installation, here’s what’s currently available to home and business owners who are making the switch to solar with Rikur Energy.
Canada Federal Solar Incentives
Receive up to $5000 off your solar power system and finance with a Zero Down Zero Interest Loan with the new Federal Canada Greener Homes Grant. Learn more
Canada’s Greener Homes Grant
In 2021, the Canadian government announced a new program to help homeowners retrofit their homes to be more energy efficient. Since our homes, offices, and other commercial buildings are responsible for 18% of Canada’s greenhouse gas emissions, the government wants to make energy efficiency more accessible. And why not start with solar panels?
These solar power grants for homeowners are the first step in an initiative to make 700,000 homes more energy efficient over the next seven years. If you’re a homeowner, you may be wondering how these BC solar rebates work? While the specifics are continuously being updated, participants are currently eligible to receive a total of $5,000 to make their homes more energy-efficient. To install on-grid solar panels to your home with the help of a solar rebate program, apply for the Greener Homes Grant today!
Grants for Solar Panels on Commercial Buildings
Currently, the only federal solar energy incentive for businesses is enhanced depreciation under section 43.2 of the Income Tax Regulation. Should a business retrofit their commercial building to be solar-powered, this commercial solar incentive allows them to write off 100% of the asset value within one year of purchase. This will be outlined in the company’s Capital Cost Allowance (CCA) scheme depending on their income profits. To minimize greenhouse gas emissions and maximize energy savings even further, the BC government awarded solar panels for schools with grants of $20,000 each. These grants will be put towards purchasing and installing new solar panels for 11 schools throughout BC. Not only does this help the environment, but it also teaches the importance of clean energy to future generations.
A commercial solar panel installation provides a tax incentive for business owners.
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BC Tax Incentives for Solar Energy
The current tax incentives for solar panel installation in BC homes makes the transition to energy efficiency that much simpler. Being the only province to currently have PST exemptions, the BC solar incentives help homeowners save 7% tax on solar panels. In addition to this, homeowners may be eligible for the GST/HST housing rebate. From solar photovoltaic panels to inverters, converters, and cabling, your total cost will depend on the size, layout, and angling of your rooftop. However, the total cost can be greatly diminished when the tax incentives for solar energy are utilized. For an accurate estimation of cost including the BC tax incentives for solar installation, reach out to our team at Rikur Energy.
BC EV Charger Rebate
To encourage EV-friendly residential and commercial buildings, the BC Hydro EV charger rebate can help cover the costs. In collaboration with Fortis BC and the Government of British Columbia, BC Hydro provides provincial incentives for not only purchasing EV chargers, but also to minimize the cost of installing the infrastructure.
For duplexes and townhouses with a designated parking spot or garage, this rebate could cover up to 50% of the costs, to a total of $350 per household.
To help apartment and condo buildings, the BC Hydro EV charger rebate has two options. One involves three cohesive rebates for the project: up to $3,000 for creating an EV ready plan for the building, up to $600 per parking stall, or up to $1,400 to purchase and install the chargers. Alternatively, there’s the option to install a standalone EV charger, where purchasers will receive up to $2,000 in rebates per charger.
Lastly, there are provincial incentives available to help workplaces cover the costs of purchasing and installing EV chargers. This rebate will cover up to $2,000 per EV charger which can go a long way to help businesses become more eco-efficient throughout BC.