Are you looking to save on energy costs and reduce your environmental impact? BC Hydro offers businesses rebates of up to $50,000 on solar panels and battery storage systems.
Eligible projects can receive up to $25,000 for grid-connected solar panels and an additional $25,000 for energy storage, helping you meet your energy needs while minimizing expenses.
Starting July 23, 2024, these rebates, combined with the self-generation program, give businesses greater control over their energy use and a chance to cut down on energy bills significantly.
Businesses in British Columbia can now leverage BC Hydro’s Solar and Battery Rebate Program with up to $50,000 in rebates and stack it with the Clean Technology Investment Tax Credit (ITC) for an additional 30% tax credit.
Let’s explore how BC Hydro’s Solar and Battery Rebate, and how stacking it with Clean Technology ITC allows businesses to install solar power systems and energy storage solutions with substantial savings.
BC Hydro Solar And Battery Program Overview
BC Hydro’s program offers businesses:
- Up to $25,000 for solar panels [$1,000 per kW, capped at 50% of total cost (including the material and labour cost)].
- Up to $25,000 for energy storage systems [($500 per kWh, capped at 50% of total cost (including the material and labour cost)].
By participating in BC Hydro’s self-generation program, businesses gain greater control over their energy use, contributing to sustainability and cost savings.
The Clean Technology Investment Tax Credit (ITC)
The Clean Technology ITC provides an additional refundable tax credit of up to 30% on the capital costs of clean energy technologies, including solar power systems and energy storage solutions.
Businesses can claim the ITC on eligible property acquired and available for use between March 28, 2023, and December 31, 2034.
How Does Stacking Work?
- BC Hydro Incentives: First, businesses install solar power systems and/or battery storage systems, reducing upfront costs by taking advantage of BC Hydro’s rebates.
- ITC Claim: After applying the BC Hydro rebate and implementing solar or battery projects, businesses can then claim the ITC during their fiscal year, allowing them to recoup an additional refundable tax credit.
Eligibility For BC Hydro’s Solar And Battery Rebates
To qualify for BC Hydro’s solar panel and battery storage rebates, your system must be reviewed and approved through the self-generation program.
If you submitted a net metering application on or after May 1, 2024, and your equipment is installed after June 27, 2024, you are eligible for solar rebates.
Installations completed after June 27, 2024, are eligible for rebates, while prior installations do not qualify.
Businesses applying for energy storage without energy generation must submit applications on or after July 23, 2024.
Eligible Customers And Properties
To qualify for BC Hydro’s solar and battery storage rebates, the property must be owned or leased by the business applying for the rebate.
Additionally, the business must be the account holder under BC Hydro’s Small, Medium, or Large General Service rate categories, such as:
- Small Business: Rate Schedules 1300, 1301, 1310, or 1311
- Medium Business: Rate Schedules 1500, 1501, 1510, or 1511
- Large Business: Rate Schedules 1600, 1601, 1610, or 1611
The property must also be connected to the BC Hydro grid, and the business must have an active BC Hydro account.
Eligible Installations
- Solar generation systems must be connected to the distribution system via the self-generation program.
- The system’s capacity must not exceed 100 kW.
- Installations and connections must take place after June 27, 2024, to be eligible.
- Accepting the rebate means accepting a new rate structure proposed to the B.C. Utilities Commission.
- Rebates won’t apply to self-generation projects completed before June 27, 2024.
- Expansions to existing systems qualify, and system upgrades that increase capacity are eligible for a rebate based on the additional size.
Solar Panels
- Solar panels must be new and not previously installed on another property.
- Must be purchased in Canada, though they can be manufactured elsewhere.
- Rebates do not apply to replacement systems, but additional panels added to an existing system are eligible.
- Panels must have a Canadian Standards Association (CSA) certification.
- The nameplate rating should not exceed 100 kW.
- Must comply with CSA C22.2 No. 107.1:16 (R2021), CSA C22.3 No. 9:20, and CSA C22.2 No. 61730 standards.
- Must be new, CSA-certified, and installed in Canada.
Battery Storage Systems
- Must be new and not previously installed on another property.
- The buyer must be located in Canada at the time of purchase, though the system can be sourced from international suppliers.
- Must use a renewable resource (solar, wind, hydro) as defined by the Clean Energy Act.
- Cannot replace an existing battery system.
- Must comply with CSA standards (CSA C22.2 No. 107.1:16, CSA C22.3 No. 9:20).
- Lithium-ion batteries must meet CUL certification requirements (CUL 1973, CUL 9540, and CUL 1642).
By meeting these requirements, businesses can apply for BC Hydro’s Commercial Solar and Battery Program. Before applying, make sure to go through the terms and conditions or hire Dandelion Renewables to help you get through this process.
Steps To Apply For BC Hydro’s Solar And Battery Rebates
- Assess Eligibility: Ensure your business qualifies for the program based on BC Hydro’s guidelines.
- Find a Contractor: Work with a qualified solar contractor to design and install the system.
- Submit Application: Complete and apply for pre-approval before purchasing or installing any equipment.
- Install System: Once approved, install your solar power system and/or battery storage.
- Claim ITC: At the end of the fiscal year, claim the 30% refundable tax credit on your solar power system.
Why Stack BC Hydro Rebates With The ITC?
By stacking BC Hydro rebates and the ITC, businesses can:
- Significantly lower upfront costs: Reduce your installation costs by combining both incentives.
- Increase long-term savings: Benefit from lower energy bills and reduced peak demand charges.
- Contribute to sustainability: Solar power systems and energy storage help reduce greenhouse gas emissions and dependency on traditional energy sources.
- Boost energy security: Energy storage systems ensure that your business stays powered during outages or peak demand times.
How Dandelion Renewables Can Help
At Dandelion Renewables, we specialize in helping businesses maximize their savings through renewable energy solutions. Our team of experts will guide you through the process of applying for both BC Hydro’s Solar and Battery rebates and the Clean Technology ITC, ensuring you get the most value from your investment.
We handle everything from system design and installation to navigating the application process, so you can focus on running your business while reaping the benefits of clean energy. Contact Us today or visit our website for more information.