Due to raising awareness for clean energy, governments and societies, in general, are supporting the transition into solar energy. The government provides us with provincial and federal solar incentives. The incentives are varied based on the location of your place.
Federal solar incentive is given to businesses. It is regulated under Class 43.2 of the Income Tax Regulation and it comes as increased depreciation. This incentive enables businesses to write off their asset value in year 1 of purchase. If you have a business and are interested in solar energy systems, please consult your accountant to talk about depreciation and tax incentives.
Provincial incentives will apply differently according to your local governments. Alberta, for example, has the Alberta Municipal Solar Program. This program was initiated by the Municipal Climate Change Action Center and is available for municipalities and community-related organizations.
If you are a resident of Banff, you can apply for a Banff solar incentive program. If you are selected to join the program, you will be provided with $750 for every kilowatt of installed solar capacity. The selection system for the program is lottery-based.
Solar rebate programs aim to attract more people to use solar energy systems. Please contact your local government to know about what solar rebate programs available in your area. Also, please consult with your accountant to get the most benefits from the programs.