However, aside from increasing “the resilience of Canada’s communities and enhancing the competitiveness of… industries,” household and business use of solar power in Vancouver also benefits residents and business owners directly. The most obvious benefit is that solar power is an energy source that eventually pays for itself.
According to the Canadian Electricity Association, the average residential hydro bill is $72 per month, or $864 per year. Smaller solar power systems can retail at around $10,000, so the typical Canadian family can expect a return on their investment in about 10 to 12 years. Additionally, selling power back to the grid can shorten turnaround times for returns, down to eight to 10 years by some estimates.