04/03/2026
So, good ole Nova Scotia Power is approved for another set of rate hikes for 2026 and 2027...yet to be confirmed but supposedly close to 8% in total! That's quite a jump, and on top of the price of fuel for our vehicles, food for our families, it's a slap in the face to the people of Nova Scotia. Thank you Nova Scotia Power, Tim Houston and the Utility Review Board (URB). That was sarcasm btw.
While not for everyone, Solar Power is a viable option to controlling your energy costs. Look at it as an investment with environmental benefits. A typical 13 KW Solar power system costs ~$27,5,00 HST included. It will pay back in ~8 years given todays power rates and average annual increases of 3%. After it's paid for it can generate power for another 15-20 years will minimal upkeep. Over a 25 year period this Solar Power System could generate ~$80.000 in savings.
If you take that same $27,500, invest it, and get an average return of 6% per year and then pay 40% income tax on the gains you will end up with about $78,000. Sure you might might be able to get 7, 8 or 10% rate but it's not that likely. Just as likely you 4-5%... Bottom line is Solar Power can be a good investment!
Next time I'll talk about EV's....you can generate your own "gas"!