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Solar Tax Credits, Incentives and Solar Rebates in New Brunswick
Latest Update:by Simone Garneau
|Solar Value Index||$700|
|Solar Energy Produced||5,603 kWh / year|
|Average retail electricity price (2016 data)||12.5 cents / kWh|
|Average annual consumption per household (2014 data)||19,392 kWh|
|Installed solar PV capacity (2014 data)||0.2 MW|
|Levelized Cost||13.74 cents / kWh|
|Reached grid parity?||Not yet|
|Solar Installer||City||Sunmetrix Solar Score||Sunmetrix Cashback|
|Clear Power Solutions||Saint John||$150|
|Vertex Solar Solutions||Shediac River||$100|
Rooftop solar energy in New Brunswick is still fairly uncommon, at less than 50 homes with a grid-connected system as of early 2015. However, given the falling cost of solar installations and the fact that the province has set a goal of 40 per cent renewable energy generation by 2020, we expect to see that number rise significantly in the coming years.
At 12.5 cents/ kWh, the electricity prices in the province are above the national average of 12.2 cents / kWh. When it comes to average electricity consumption per household, residents of this province consume 19,392 kWh per year, above the national average of 13,300 kWh.
Although the cost of solar power in the province didn't reach grid parity yet, the incentives listed below can significantly increase the affordability of solar energy.
- Energy Smart Commercial Buildings Retrofit Program
The Energy Smart Commercial Buildings Retrofit Program provides financial incentives of up to $3,000 towards an evaluation to determine the potential for energy efficiency upgrades in a commercial building and a maximum of $75,000 towards the energy retrofitting project costs that result in measureable electricity savings, including solar PV systems. In order to qualify for incentives, please ensure your Energy Management Service Provider has met, and will meet, the Energy Smart Program requirements. The implementation funding is on a 'per gigajoule saved' basis and is intended for projects that have not yet been started.
- NB Power Net Metering Program
The NB Power Net Metering program provides customers with the option to connect their own environmentally sustainable generation unit to NB Power's distribution system. The program allows customers to generate their own electricity to offset their consumption, while remaining connected to NB Power's distribution system, so they can meet their electricity demands when their generation unit cannot. The generation unit must not exceed 100 kW. Credits cannot be carried forward beyond March of each year.
- Unfortunately, there are no federal incentives for residential solar PV projects in Canada. However, if you own a business, the following programs may be applicable.
- Capital Cost Allowance (CCA) Renewable Energy
The Government of Canada makes clean energy projects, such as solar energy, wind energy and energy from waste, more fiscally attractive for industry by providing business income tax incentives. Under Classes 43.1 and 43.2 in Schedule II of the Income Tax Regulations, certain capital costs of systems that produce energy by using renewable energy sources or fuels from waste, or conserve energy by using fuel more efficiently are eligible for accelerated capital cost allowance. Under Class 43.1, eligible equipment may be written-off at 30 percent per year on a declining balance basis. In general, equipment that is eligible for Class 43.1 but is acquired after February 22, 2005 and before year 2020 may be written-off at 50 percent per year on a declining balance basis under Class 43.2.
- Canadian Renewable and Conservation Expenses (CRCE)
CRCE is designed to encourage commercial investments in clean energy generation and energy conservation projects by providing income tax incentives for certain start-up expenses associated with these projects.
- Average monthly electricity consumption data is from the Canadian Electricity Association (2014 data).
- Average retail electricity prices are based on studies published by Manitoba Hydro and the annual Hydro Quebec report "Comparison of Electricity Prices in Major North American Cities" and is based on 1,000 kWh/month consumption.
- Annual solar production estimates are based on the analysis performed using our own solar energy calculator, Sunmetrix Discover.
- Installed solar PV capacity figures are from Natural Resources Canada's report entitled "Photovoltaic Technology Status and Prospects: Canadian Annual Report (2015)".
- The national average for utility rates in Canada excludes the rates in Northwest Territories and Nunavut.
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- We will find you up to 3 installers in your area to provide free, no-obligation quotes.
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1. Defined Terms.
a. Program Website: http://sunmetrix.com/
b. INSTALLER: The solar PV installation company either selected by the QUOTE-REQUESTER or by Sunmetrix.
c. QUOTE-REQUESTER is a potential residential solar customer that meets all of the following criteria: (1) owns his or her own house in a state/province where the INSTALLER operates; (2) is a legal resident of the United States or Canada; (3) is 18 years of age or older; and (4) otherwise meets Sunmetrix’s requirements, as may be updated by Sunmetrix from time to time.
d. REFERRAL FEE: The amount the INSTALLER agrees to pay Sunmetrix upon completion of the residential INSTALLATION. For U.S. companies, the indicated amount is in U.S. dollars. For Canadian companies, the indicated amount is in Canadian dollars. In the case of commercial solar quote requests, the referral fee is determined on case by case basis.
e. CASH-BACK: The amount paid to the QUOTE-REQUESTER, representing 50% of the REFERRAL FEE paid upon completion of the residential solar photo-voltaic INSTALLATION. For U.S. residents, the indicated CASH-BACK amount is in U.S. dollars, and the CASH-BACK will be sent electronically either with a PayPal Payment or with an Amazon eGift Card. For Canadian residents, the indicated CASH-BACK amount is in Canadian dollars, and the CASH-BACK will be sent electronically with an Interac e-Transfer.
f. INSTALLATION: The solar photo-voltaic INSTALLATION is for a residential system with a minimum installed capacity of 2 kW DC. Systems that are less than the minimum will not qualify for the CASH-BACK program.