Get Solar Hot Water for as little as $1 a Day!Under a financing program offered by Bullfrog Power, and assuming Enerworks' default hot water consumption for a typical Toronto household, the current cost of going solar would be roughly
$34/month, roughly the same as the price premium paid by bullfrog electricity consumers.
Residents of TorontoUnder the
Toronto Solar Neighbourhoods Initiative pilot program, 100 residents in Wards 29, 30, 31 and 32 in east Toronto went solar for as little as
$25/month. The incentive program is completed but the excellent website resources and Federal and Provincial government subsidies are still available.
SubsidiesSolar hot water (SHW) presents a different value proposition than solar PV. Unlike PV which is an investment in power generation that feeds the grid, SHW generates hot water for consumption onsite. As a result, subsidies for SHW are structured differently than PV subsidies.
SHW subsidies are targeted at reducing upfront capital costs and the current combination of subsidies, which begin to expire early next year, have driven SHW to a cost competitive position.
The incentives are outlined below.
*The Federal and Provincial ecoEnergy subsidies layer on each other for a total of $2500 in rebates, however only one audit is required at a cost of $350.
System ProductionA solar hot water system will usually be sized to meet 50% of your annual hot water demand. As illustrated below, the system provides for almost all of your hot water needs during the summer months and still offers some heating even in the depths of winter.
PaybackThe financial payback for solar hot water systems is dependent on hot water consumption habits
of the individual household. Variables such as efficiency of appliances, number of individuals in the homes, hot water temperature settings and vacation times all affect the payback of the system. As such it could easily be misleading for Our Power to project a payback timeline and highly encourage you to use the simple Enerworks calculator available
here.