3. Protect against rising electricity rates
Electricity continues to become more expensive. In BC, for example, over the last 20 years, energy rates have risen by an average of four per cent per year. Projections ensure that it will continue to rise, which means your electricity bills will keep going up. As well, the Clean BC Act is mandating that all vehicles and home heating and cooling systems must be electrified. Solar systems protect you from rising costs because instead of buying power from the utility companies, you are producing and in effect owning and stabilizing your own electricity costs. As the price of power increases, the payback of your solar array will only get better as well.