Have you considered the value of solar energy in the Yukon? If your home, business, or industry is connected to the electrical grid, the Yukon Micro-generation Program allows you to sell surplus energy back to the grid after installing and commissioning your solar system. The current reimbursement rates in the Yukon offer a strong incentive for our clients to consider investing in solar technology.
To start, let's define some key terms.
Micro-generation: non-commercial, small-scale generation of electrical energy through renewable energy technologies to meet individual/domestic energy needs.
Net-metering: a billing mechanism that credits system owners on their energy bills for the surplus energy their system generated and exported back to the grid.
Net-billing: a billing mechanism that compensates system owners at pre-determined wholesale prices for the surplus energy their system generated and exported back to the grid.
The reimbursement rate for exported energy applies to both the Yukon Integrated System (hydro grid) at $0.21 per kilowatt-hour as well as Diesel community grids at $0.30 per kilowatt-hour; markedly more than the retail rate paid to the utility.
The Yukon is currently the only place in Canada that has this reimbursement structure; the other provinces and territories compensate for the excess energy through net-metering (some at the retail rate, some far less than the retail rate) or net-billing (often at a rate less than half of the retail rate), but the Yukon is the only place allowing micro-generators to churn a profit from their exported energy. This provides our clients with a strong ROI potential that is based on their system size and consumption habits.
After your solar system installation is complete, your utility company will install a bi-directional meter to measure how much electricity you are selling back to the grid. This meter swap is done at the cost of the utility, not the homeowner; this is not the case in some of the other provinces in Canada. Once the bi-directional meter is installed, it will begin tallying the amount of excess energy that gets pushed back to the grid, allowing the homeowner to be reimbursed once a year in March via a cheque from YTG.
Customers are invited to read more about the Micro-generation Program to further understand your solar project capabilities, any local electrical system limits, as well as site-specific information. At Solvest, we work directly with our clients to design a solar system that best suits your specific energy needs, offering a wide range of system capabilities and installation options. Our team of experts will handle all the paperwork and program applications, reducing the need for our clients to deal directly with the local utilities and the Energy Solutions branch.
To learn more about the Micro-generation Program and how Solvest can help with your next solar project, reach out to our experts today to book a free assessment!