Net billing Incentive
Electricity sent to the grid from the unused solar power your system generates is banked and applied to your current month’s electricity consumption. Any excess electricity is carried over to the following month and applied against that month’s consumption. A credit appears on your monthly bill showing the net amount of electricity that has been banked. Your excess power should be used within the year; if not, at the end of 36 months on your net billing anniversary date, any credits you may have for excess electricity sent to the grid will reset to zero.
If you want to produce more power than you consume over the calendar year and sell it to SaskPower, consider the Power Generation Partnership Program.
Power Generation Partnership Program
The Power Generation Partnership Program accommodates individual customers who wish to generate electricity for the purpose of offsetting power costs that would otherwise be purchased from SaskPower, or for selling all of the power generated to SaskPower.
You will need to choose to either sell all of the power you produce to SaskPower; or sell the excess of what you do not use.
Capital Cost Allowance Incentive
We think the information below is very important as businesses can now write off 100% of their clean energy investments the same year they are installed.
“One of the ways the Government currently supports the transition to a cleaner economy is by providing an accelerated capital cost allowance for clean energy equipment. To increase investment in the clean technology sector, the Government proposes that specified clean energy equipment be eligible for immediate expensing. With this change, the cost of specified clean energy equipment will be eligible for a full tax write-off the year it is put in use in the business. This change will encourage investments that create jobs for the middle class, help Canada in achieving its climate goals, and position Canada to be globally competitive.
Immediate expensing will apply to qualifying assets acquired after November 20, 2018. It will be gradually phased out starting in 2024, and will no longer be in effect for investments put in use after 2027.”
* Consult a tax advisor to assess your eligibility.
SASKATCHEWAN IS THE
PERFECT PLACE FOR SOLAR
- An abundance of sunlight hours makes Saskatchewan’s solar potential the highest in Canada.
- 2nd highest cost of electricity in Canada.
- Solar panels actually work better in the cold because they convert
light into power, not heat.
- Installing solar can increase your property value by up to 5%
- Businesses and incorporated farms can write off 100% of their
system cost in year one meaning thousands of dollars in tax savings
- SaskPower gives you credits on your bill for overproduced power