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Solar Tax Credits, Incentives and Solar Rebates in Nunavut
Latest Update:by Simone Garneau
|Solar Value Index||$1,250|
|Solar Energy Produced||4,165 kWh / year|
|Average retail electricity price (2016 data)||30 cents / kWh|
|Average annual consumption per household (2014 data)||15,180 kWh|
|Installed solar PV capacity (2014 data)||0.04 MW|
|Levelized Cost||18.49 cents / kWh|
|Reached grid parity?||Yes|
|Solar Installer||City||Sunmetrix Solar Score||Sunmetrix Cashback|
Although solar energy hasn't taken off in Nunavut yet, due in part to the high cost of installation and transportation of materials, there are a few systems taking advantage of the long summer days to offset the high cost of energy created with fossil fuels. In fact, some parts of Nunavut receive as much solar radiation in a year as parts of southern Quebec, Ontario and the Maritimes. For example, a PV array at Arctic College in Iqaluit, installed in 1995, captures up to 20 hours of sunlight per day during the longest days of summer and five hours per day during the darkest days of winter.
At 30 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 15,180 kWh per year, above the national average of 13,300 kWh.
Nunavut is a grid parity province, making solar power cheaper than the residential utility rates. The incentives listed below can significantly reduce the cost of installation of solar panels for your home or business.
Financial IncentivesUnfortunately, there are no provincial financial incentives in Nunavut.
- Coming Early 2017 - Net Metering Program for systems up to 10 kW
The Net Metering Program will be for customers who generate up to a maximum of 10 kW of power using renewable power technologies such as solar panels or wind turbines. The Qulliq Energy Corporation is currently finalizing its net metering program, and amending its terms and conditions of service to include its net metering policy. Details of the net metering program will be made available to QEC customers by early 2017.
- 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.
- See their consumer reviews and compare cashback deals - up to $500.
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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. For Canadian residents, the indicated CASH-BACK amount is in Canadian dollars.
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.