BC Hydro is launching a brand new rebate program that covers at least a portion of the cost to install a rooftop solar panel and battery-storage system for homes and businesses.
The provincial government announced the new program today, which is the first of its kind for British Columbia.
Eligible homeowners can receive BC Hydro rebates of as much as $10,000 for installing a qualified rooftop solar photovoltaic system with a battery storage system.
Out of the maximum limit of $10,000 for a home, up to $5,000 of the rebate would go towards the rooftop solar photovoltaic system, based on $1,000 per kilowatt (kW) of installed generator capacity. The rebate amount is capped at 50% of total installed product cost, including labour and materials.
The remaining rebate of up to $5,000 for a home would go towards the battery storage system to support the solar photovoltaic system. The minimum storage size is five kilowatt-hours (kWh), with the rebate based on providing $500 per kWh of installed storage capacity. The battery storage rebate amount is capped at 50% of total installed product.
Additionally, the electric utility will also offer a rebate of up to $50,000 to $150,000 for such equipment installed for multi-family residential apartment buildings, schools, community organizations, local governments, small businesses, social housing providers, and Indigenous communities.
Example of a single-family detached house with rooftop solar panels connected to Tesla’s Powerwall battery storage system. (Tesla)
Example of a single-family detached house with rooftop solar panels connected to Tesla’s Powerwall battery storage system. (Tesla)
Example of a single-family detached house with rooftop solar panels connected to Tesla’s Powerwall battery storage system. (Tesla)
Applications for the rebates will open starting in late July 2024.
According to Kuby Renewable Energy, a Western Canada company that specializes in installing solar panels, the average full installation cost for a home solar power system in BC will typically range from $12,000 to $30,000. For commercial solar power systems, the cost is about $100,000 to $350,000.
While there is a significant upfront cost, such installations provide operational cost savings — lower electrical bills — over the lifespan of the equipment.
“We need more clean energy to power our homes, businesses and industries, to power a growing economy and to power our future,” said Josie Osborne, BC Minister of Energy, Mines, and Low Carbon Innovation, in a statement.
“British Columbians are up for the challenge. That’s why we are providing new BC Hydro rebates for rooftop solar panels and battery storage so that more people across the province can generate electricity, save on their energy bills and help build a clean economy.”
This rebate program is part of BC Hydro’s strategy to reduce demand on the grid, and reduce the amount of new electricity supply needed over the coming years. Buildings with such equipment can also provide clean power back to the electricity grid.
Before the end of this decade, BC Hydro is expected to buy a significant amount of additional power — much sooner than anticipated due to the growing economy and population, and the accelerating electrification of buildings and vehicular transportation. The required increase in electrical supply is about 60% more than the output of the new Site C hydroelectric dam, which is expected to reach completion in 2025. BC Hydro’s updated forecast already includes the anticipated major capacity increase from the operation of Site C.