What's new in Canadian residential solar for 2023 - trends & technology?

Canada ended the 2022 year surpassing a milestone of 5GW of cumulative solar capacity. Furthermore, growth is expected to continue growing, reaching a 7-fold increase of 35GW by 2050. Although solar energy represents a small portion of Canada’s energy grid capacity, this will rise significantly throughout 2023 and into the future.

Canada remains committed to achieving a net-zero electricity system by 2035, and solar PV capacity is expected to grow by 600% by 2050. In fact, Canada has set a green electricity goal of 90% by 2030, and 100% by 2050. Additionally, solar power continues to increase in cost competitiveness every year, with the residential sector already nearing grid parity.

Residential Solar Power Incentives and Opportunities

That’s all great news, but what does this mean for residential homeowners like you and me? Well, as the demand for clean and renewable energy continues to grow, more homeowners are ready and able to take advantage of federal subsidies and incentives for residential solar power installations. The Canada Greener Homes Loan provides interest-free loans from $5k - $40k to eligible homeowners. And the Canada Greener Homes Grant offers a grant and possible reimbursements for the installation of photovoltaic solar panels and the batteries to store your energy.

Plus, photovoltaic technology continues to reach new heights. This means solar panels are getting better at turning sunlight into electricity–a feature known as solar efficiency. Solar efficiency has increased from 15%  and 250W years ago, to over 21% and 400W today in high-efficiency panels.

Choosing the Right Solar Power Solutions Company

There are many exciting things happening in the solar power industry and a lot of good news for homeowners interested in generating their own free electricity. Talk to a solar power solutions company like NetZero Solar to learn how best to apply these solar power features to your home. We'll show you an ideal design incorporating your location, budget and energy use that will set you on your own net-zero, clean-energy path.

Please feel free to contact us at NetZero Solar. We are local energy professionals, here to help guide you through the complex world of solar energy.