Here are some common questions and answers. Please get in touch if you have other questions which are not covered here.
How much does a MicroFIT system cost?
If your roof is large enough to fit a full 10kW (about 35 panels), then the system will cost about $25,000. This is the average price. When we do a preliminary assessment on line, we can give you a more accurate guess and after the on-site assessment, we will provide you with an exact quote.
Do you offer financing?
Yes. We can arrange financing through traditional lenders, as well as private lenders if required. However, we recommend you first attempt to arrange financing from your preferred financial institution - your mortgage provider, typically - as they will already have a credit profile for you, and you will likely get the best possible interest rate. If you borrow money to finance your MicroFIT project, the interest is tax-deductible.
Do I need to reroof before installing solar?
Replacing your shingles right before a solar install is a fantastic time to do it because the shingles will last for many years longer with panels protecting them. That said, if your shingles are in good condition, you will not need to replace them, as the panels will keep them protected and in good condition for many years.
Does the system have a warranty?
Yes. The panels and solar optimizers come with a 25-year warranty, while the inverter has a 12 year, extentible warranty.
Do I have to pay taxes on the revenue from my solar array?
You will not have to pay taxes on the revenue until after the system has paid for itself. This is due to a tax consideration called the Capital Cost Allowance (CCA), which allows you to write off a portion of the cost of an asset against the revenue it generates.
Will a MicroFIT system raise my property value?
Many reviews are showing that the value of a property with solar is increased. In the United States, the value of the home is increased by $4 per watt of installed solar power (New York Times, Feb, 2016). More research is needed in Canada, but the trend is here too!
How does solar compare to other investments?
A MicroFIT contract offers a high, stable, and reliable return, backed by a 20 year government contract. This combination of high return and low risk is virtually unheard-of in the investment world.
What happens if I move?
The solar array remains with the house, and the contract is transferrable to the new homeowner. You may apply for a new contract for your new home if you wish. You can expect that having a MicroFIT contract will increase the resale value of your home by an amount equal to the residual value of the system at the time of sale.
How much energy will my system produce?
Maximum production occurs when the sun is highest. On a daily basis, production starts at sunrise, reaches its peak around noon, then declines until it reaches zero at sunset. During the year, the sun provides the most energy around the summer solstice (June 20) and the least around the winter solstice (December 20). Weather, snow, shading and other factors will impact production. After we conduct an assessment on your roof, we will show you our predicted month by month energy production for your system.
How do I know if my roof is good for solar?
There are a few factors that determine how great a roof will be for solar, whether you are interested in a MicroFIT, pool or battery system. Roof surfaces which face south do best, but we often install on other surfaces as well, and the systems do very well. We use a solar Pathfinder to examine how much shade falls on your roof in different areas throughout the year. We then use this information to determine how much electricity your array will produce each year. Get in touch with us and we can do a free assessment of your roof online.