As the Ontario Energy Board (OEB) announces changes in electricity prices, households, small businesses, and farms are faced with a timely decision.
Effective November 1, these adjustments impact both Time-of-Use (TOU) rates and Tiered pricing thresholds.
Rising Electricity Costs Call for Action
Amid these shifts lies a bright opportunity for those looking to secure their energy future while contributing to a sustainable planet.
The uptick in electricity prices signals a growing need for proactive energy management. For homeowners, small businesses, and farms alike, exploring avenues that mitigate escalating costs and promote sustainable energy practices is crucial.
The Ontario Electricity Rebate (OER) Increase
A silver lining to this announcement is the Ontario Electricity Rebate (OER) elevation to 19.3 percent.
This rebate, applicable to residential, small business, and farm customers, presents a tangible solution to help alleviate the impact of rising electricity bills. For the average residential customer consuming 700 kWh monthly, this enhancement will result in approximately $26 in savings each month.
The Solar Solution
Amid the challenges of rising electricity costs, the power of solar energy emerges as a compelling answer. Investing in solar panels empowers individuals and businesses to take control of their energy consumption, reduce reliance on traditional grids, and, most importantly, curtail long-term electricity costs.
While the initial investment in solar panels may seem substantial, viewing it as a forward-looking strategy is essential. Solar systems provide immediate savings through reduced electricity bills and offer long-term financial benefits. With government incentives, tax credits, and feed-in tariffs, solar energy has become an increasingly viable and attractive option.
It’s important to note that current government incentives for solar won’t last forever. Waiting too long on this one could mean paying more for your system.
Investing in solar protects you against escalating costs and contributes to a more sustainable planet. With the support of solar energy solutions, the path to a cleaner, more economically efficient future is well within reach.
Don’t miss this bright opportunity to join the renewable energy revolution.
Get in touch with Brightworks Energy today, and let’s embark on a journey towards a brighter, greener tomorrow.