One of the most significant environmental steps we took when we moved to the farm was adding solar panels to the barn. Last week marked eight years since the solar panels started to feed their power back into the grid.
Here is this year’s solar report.
If you need to get caught up, here are all of the previous updates and other details:
- The Ontario microFIT solar program and our application process
- Installing the solar panels and connecting to the grid
- Our solar panels by the numbers
- Year 1 update
- Year 2 update
- Year 3 update
- Year 4 update
- Year 5 update
- Year 6 update
- Year 7 update
This year the panels generated $4,196.79. (We’re hooked into the grid, and the province pays us $0.396 per kWh). This is a lower total than previous years. The decrease is due to an accounting change, not a panel change. Our previous payments had included HST (a tax that we then remitted to the government). I cancelled our HST number for the solar panels, as it was below the threshold that required us to file, and it seemed simpler to not have to deal with it.
We still came out ahead in terms of what we spent on electricity, as we do every year. This year, we spent a total of $2,713.70, which translates to $1,483.09 in profit.
In my original estimates, I had predicted that year 8 would be the year that we paid off the panels. We may get there. We’ve earned almost 90% of what it cost to install the panels–just $4,366.60 left. (To be clear, we paid for the panels in full 8 years ago.)
I’m proud that we made the decision to install the panels. While my analysis is all financial, the environmental angle is extremely important to me. I would love someday to be truly off-grid and self-sufficient. Panel and battery technology have come a long way in the past 8 years, and I feel like that will give us the opportunity to do more in the future.
I do! And every year I am glad that I don’t have heart problems because if I did I would have had a heart attack! Electricity here in Annapolis, MD is pretty expensive. Winter is when I pay the most. The highest bill I had this year was a little over $400 for one month! Could you believe that? But during Summer, my bill is usually around $100.
Sounds like similar rates to here. Sometimes I wish rates were higher to encourage more conservation or alternative energy sources. Though not when my bill comes!
I will probably do some research in the future. I am a bit lazy since the Summer months’ bills are quite low.
This is so awesome! For both reasons.
Thanks so much for your enthusiasm.