Are Solar Panels Worth It Ontario

The average installation cost of solar power in canada is 3 01 watt or 22 500 for a 7 5kw system.

Are solar panels worth it ontario.

Ontario time of use electricity rates. Contact any solar panel company and they will tell you the cost per watt. The cost to install solar panels has fallen by more than 50 in the past 5 years which further reduces the solar panel payback period. As energy costs continue to climb and the concerns over environmental change continue to grow more and more people are considering clean energy solutions.

Should you put solar panels on your home in ontario. As per solar economics study by the canadian energy board the solar break even price is already falling below residential electricity. How are you financing your solar panel system. However the cost of solar power changes depending on the size of the system required your eligibility for solar incentives the type of equipment used and even on the province that you live in.

Then add connection costs and administrative expenses which vary. As a starting point look at the cost of 10 years worth of hydro. Cost of solar power in canada 2020. If you have enough to make a purchase in cash you ll save more than with any other option but even with a 0 down solar loan your savings could still be in the tens of thousands.

Ontario has the fifth highest potential to produce solar energy in all of canada receiving more solar irradiation than most other provinces except for the prairies and quebec. But the high initial cost of solar panel installation makes many canadians wonder if it is worth the investment. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value.