Solar Electric (PV)

The price of energy tends to be higher during periods of economic growth. In a general sense this means the value of the solar system is higher when the stock markets are doing well because it is offsetting more expense per unit of energy produced (a higher cost per kWh). So when stock investments are doing well so is the solar investment, generally speaking. Solar is a valuable asset when the markets are booming.

When the price of energy is down the stock markets tend to move down (due to the lack of economic activity, etc.) Stock investments move to a loss position while the solar investment continues to deliver value by providing free energy during a time of potentially reduced or even lost income sources. Solar insulates you against loss of income, such as when stock investments are wiped out. Solar is a valuable asset when the markets are a bust.

It should be noted that solar electric systems save you after tax dollars while income from investments are generally taxed. What this means is while a particular homeowner may save $1000 in a given year with a solar electric system they would have had to make $1538.46, assuming a 35% tax rate, to pay the original bill….and then pay HST on the bill bringing the total gross income stream that had to be dedicated to paying the utility bill to $1678.46. One more point for solar.

This effect makes it a massive boon to retirement planning as it means you can either contribute more towards your retirement over the next twenty years (through reduced bills) or you will need far less in retirement savings and you can actually plan with more confidence since you are no longer tied to the fluctuating price of energy. Another point for solar.

Standard investments in major indexes and mutual funds tend to end up in the hands of large multinational corporations and the large oil players. Your investment dollars can end up helping the fracking industry, or the oil sands development, or any other number of environmentally damaging practices performed by companies driven primarily by profit. Solar on your own home has the added benefit of giving you peace of mind, knowing where your hard earned money ends up… on your roof delivering financial benefits with green energy that reduces your ecological footprint. It should be noted there are RRSP portfolios that promise investments in ecologically sustainable sources.

Standard investments can and frequently do end up strengthening other countries’ infrastructures while doing little to aid our own country. Solar on your roof not only provides you with valuable financial returns but it also helps build the nation’s energy infrastructure and supports the local independence of your community. The Point Lepreau Nuclear Generating Station is a great example of how subjective we as a province are to outside forces in our energy supply. Studies show nuclear is most prone to delays and cost overrun, and costs have increased over the decades while solar projects have are the least risk investments in electricity generation, on time and on budget, plus costs have dropped precipitously such that it is an economical solution across Prince Edward Island.

With a standard investment, your dollars are almost guaranteed to end up outside PEI – bringing limited to no benefit to our local economy. When you choose Renewable Lifestyles to install your solar system, you support a local business in an emerging field. This investment will help develop the workforce of the future and allow skilled Maritime residents a chance to earn a good living while working locally instead of commuting thousands of kilometers by plane to work the oil sands in Alberta or Saskatchewan, or moving away entirely.

The solar system always delivers energy during the day, and this can be particularly beneficial when “Time of Day” usage policies are in effect. Daytime is when demand peaks on the grid and so it is when the most backup generators must be started to address the demand, these generators are expensive (and dirty) to run. Solar electric systems can deliver energy that will reliably reduce the need for these generators to be used.

A solar electric system delivers energy directly to the site it is installed at and if there is excess generation the power goes through the grid to the neighboring sites. This greatly reduces any losses due to transmission and works to save the utility from having to run generators simply to have enough “push” to overcome losses in the lines.

The feeling of knowing when the sun shines that you are generating free, clean energy that will benefit generations to come makes the sun feel that much warmer…in a good way, not in a global warming way.

Rooftop solar has no negative land use impacts! Even wind cannot make that claim, although wind and ground-mounted solar require little land. The roofs are there already just waiting for someone to make use of them.

If there is a widespread adoption of distributed solar energy in PEI we will be able to harness the ever growing force of ecotourism. If travelers visit us and are inspired by the rate of adoption of solar they will spread the word, attracting their friends/coworkers/etc. to the island; some may also be motivated to affect positive change when they return home.

The stress of not knowing how standard investments will perform and the time invested in monitoring those investments can be better spent enjoying the sunshine.