This is particularly acute in rural and near rural properties, where the cost of electricity is twice or three times of that found in major cities in Ontario.
According to the May 2018 Fair Hydro Plan: An Assessment of the Fiscal Impact of the Province's Fair Hydro Plan Report by the Financial Accountability Office of Ontario, the previous Ontario governments cut to electricity costs to the consumer will:
"Cost the province $45 billion over 29 years while providing overall savings to eligible electricity ratepayers of $24 billion. This results in a net cost to Ontarians of $21 billion."
Further, a number of recent news articles/reports also indicate that rural and near properties, especially in the farming community, have seen disproportionate increases in their electricity bills over the last couple of years - and will continue to do so in the future.
Despite the current provincial governments commitment to reduce electricity costs across Ontario, the cost of electricity will certainly continue to increase in the future, and there is no commitment to substantially reduce rural and near rural properties electricity bills.
Climate change is the major cause of extreme weather events we are experiencing across Ontario, having a negative impact on the electricity grid, leading to increased power outages.
Ontario's electricity grid is also aging, with regular and frequent breakdowns, also leading to more power outages, for longer periods of time.
In Ontario, net metering is a financial incentive that allows you to generate electricity from a renewable energy source (solar, geothermal, biomass, and wind) and store this energy in the power grid. When your solar panels or another renewable energy source produce excess power, that energy is sent to the grid and in exchange you can pull from the grid when your system is under-producing - like during nighttime, or during peak demand times, when electricity costs are higher.
With the right size renewable energy system, you can produce enough electricity to match your properties electricity use for the entire year. However, the amount of electricity your renewable energy system produces will vary throughout the year. Net metering helps you account for these differences by crediting you for the excess electricity your produce so you can use it later. In Ontario, these excess generation credits can be carried forward for a consecutive 12 month period to offset future electricity costs. Net-metered customers can now pair energy storage with renewable energy systems, and can save you substantial money on your electricity bill.
Green Energy Ontario can ensure you that your electricity costs are substantially decreased and even possibly eliminated entirely, with the introduction of green energy technology. As your green energy technology broker Green Energy Ontario will help find the best and most economical green energy technology solutions for you.