Personal Finance

ONT ONLY - GreenOn Solar System Rebates

  • Last Updated:
  • Oct 15th, 2019 6:40 am
Newbie
May 28, 2018
5 posts
So is this spreadsheet wrong or does net metering in Ontario seem like a very poor investment for a residential homeowner? Is there any scenario where financially it makes sense to net meter?

I guess I should add in a reasonable time period. Taking on a whole lot of risk to make a little bit of money in 15 years if everything works just perfectly and there is no equipment failure, is still pretty poor.
[OP]
Deal Guru
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Nov 18, 2005
10867 posts
2202 upvotes
Kingston
westottawa wrote:
May 31st, 2018 7:27 am
So is this spreadsheet wrong or does net metering in Ontario seem like a very poor investment for a residential homeowner? Is there any scenario where financially it makes sense to net meter?
Yes I think your spreadsheet captures the gist of the situation. Since the loan is at 3.95% the negative cashflow tells you the return is less than that.

I did an IRR calculation based on the 10Kwh system and assumed a 2% increase in the savings each year and the return over 20 years worked out to just under 3% on the investment. Considering the risk of not recouping your costs if you sell your house in that 20 year period, I don't think it is a good investment. Same conclusion I came to in the Net Metering thread.
Newbie
May 28, 2018
5 posts
Thank you JWL. To me there is so much risk it really needs to break even at 10 years (ten years is a long time to wait when tech is changing so fast) and especially since Ontario's hydro is so clean and it doesn't really help the environment that much. Perhaps Hydro Ottawa needs to pay net metering at the peak time of use (TOU) rate when the power is generated and the Greenon grant needs to be higher. They also need to let people stay on TOU if they want to. Most people will be charging their cars at night on the cheap TOU rate and won't want to switch off TOU.
Newbie
May 28, 2018
5 posts
The fixed costs and extra net metering fee are a killer. If I look at my Ottawa Hydro bill for the year and realize $22.40X12=$268.80 is fixed cost (using this calculator) and then add on the new net metering fee of $19X1.13X12=$257.64 (found here), $526.44 of my hydro becomes fixed regardless of how much power I use or generate.
fixed_ottawa-hydro.jpg
net_metering_charges.jpg
[OP]
Deal Guru
User avatar
Nov 18, 2005
10867 posts
2202 upvotes
Kingston
westottawa wrote:
May 31st, 2018 8:46 am
The fixed costs and extra net metering fee are a killer. If I look at my Ottawa Hydro bill for the year and realize $22.40X12=$268.80 is fixed cost (using this calculator) and then add on the new net metering fee of $19X1.13X12=$257.64 (found here), $526.44 of my hydro becomes fixed regardless of how much power I use or generate.
Yup. And if you are even a couple of KM out of town it is even worse.
Jr. Member
Oct 29, 2003
113 posts
14 upvotes
Yeah I'm trying to grapple with the payback timeline and its just not working out. 30k installation -10k rebate = 20k. I will only be saving approx 1050 a year at current rates (includes non fixed portion of delivery). If you don't account for the investment opportunity with that money and assume rates will stay about even for 20 years. It is going to take 18.5 years to break even. I have also heard inverter needs replacing around 10-12 years at 2 to 3k. Easily over 20 years to break even. If you could make 3% on your money it would be closer to 25 years about the time it needs replacing.
Deal Addict
Oct 14, 2004
1390 posts
363 upvotes
Toronto
As expected:
https://greenon.ca/


The following programs are closed:
Residential:
  • GreenON Installations
  • GreenON Solar Rebates
  • GreenON Modern Wood Heating Pilots
  • GreenON Rebates:
  • Air Source Heat Pumps
  • Ground Source Heat Pumps
  • Insulation
  • Windows
  • Solar
  • $100 Smart Thermostat
  • GreenON Social Housing

If you’re already signed up for a rebate, it will be honoured if:

  • You have a signed work agreement with a participating contractor for work that will be completed by August 31, 2018
  • Your rebate application is submitted by September 30, 2018

Commercial:
  • GreenON Small and Medium Businesses
  • Food Manufacturing and Covered Agriculture
  • Solar
  • The GreenON Challenge
  • GreenON Industries
[OP]
Deal Guru
User avatar
Nov 18, 2005
10867 posts
2202 upvotes
Kingston
James_TheVirus wrote:
Jun 19th, 2018 4:23 pm
If you’re already signed up for a rebate, it will be honoured if:

  • You have a signed work agreement with a participating contractor for work that will be completed by August 31, 2018
  • Your rebate application is submitted by September 30, 2018
Good to know that signed agreements will be honoured!
Deal Expert
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Apr 21, 2004
50554 posts
15328 upvotes
Which will likely apply to microFIT agreements too. :)
Sr. Member
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Sep 8, 2014
853 posts
726 upvotes
Toronto, ON
Sadly, we just missed out on using this program for replacement of our furnace with heat pump, we're not quite ready for the switch, but will be in 5 months from now, sigh.
Deal Addict
Feb 6, 2017
1377 posts
789 upvotes
Seeing that all of the solar programs have run dry, what do you guys think of Scheer's climate plan if the Conservatives win the election?

Conservatives highlight home renovation credit as part of climate plan

So say if fitting your home with solar panels cost $30k, you'd get 20% off of $20k which would be $4k. Would this be an attractive deal?

Ftr, I know little to nothing about these programs. Just wondering when the next wagon or opportunity may roll by for us to jump onboard.
Deal Guru
Feb 9, 2006
10463 posts
4668 upvotes
Brampton
HN12345 wrote:
Oct 12th, 2019 7:19 pm
Seeing that all of the solar programs have run dry, what do you guys think of Scheer's climate plan if the Conservatives win the election?

Conservatives highlight home renovation credit as part of climate plan

So say if fitting your home with solar panels cost $30k, you'd get 20% off of $20k which would be $4k. Would this be an attractive deal?

Ftr, I know little to nothing about these programs. Just wondering when the next wagon or opportunity may roll by for us to jump onboard.
What usually happens when programs like this are announced is suddenly all the MSRP and labour goes up 50%.

What made the liberals MicroFIT program such a gold mine was despite the run up of materials and install at the beginning, was the payoff was still relatively good(amazing).

Why people wanted it thru GreenOn was there was a surplus of panels and labour in the market after the MicroFIT program causing the prices to plummet back to realistic prices.
Deal Fanatic
User avatar
Sep 8, 2007
7015 posts
6257 upvotes
Way Out of GTA
tebore wrote:
Oct 14th, 2019 8:14 pm
What usually happens when programs like this are announced is suddenly all the MSRP and labour goes up 50%.

What made the liberals MicroFIT program such a gold mine was despite the run up of materials and install at the beginning, was the payoff was still relatively good(amazing).

Why people wanted it thru GreenOn was there was a surplus of panels and labour in the market after the MicroFIT program causing the prices to plummet back to realistic prices.
Yep. Early 2018 when they had the Ont rebates for heat pump installations, it had to be thru an “approved” contractor with a very complicated process to file for the rebate. My quotes from approved contractor that knew I wanted a unit that was eligible was clearly grossed up. In the end I ended up ordering a Senville and my independent hvac guy installed for $400. Way cheaper even after the rebate.

When it’s a just submit the receipt as part of tax return it takes the control out of the contractors greasy hands and allows you to actually get a decent discount.

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