Are Solar Panels Worth It Ontario

Cost of solar power in canada 2020.

Are solar panels worth it ontario.

Then add connection costs and administrative expenses which vary. But the high initial cost of solar panel installation makes many canadians wonder if it is worth the investment. According to data from national resources canada the average solar system in ontario can produce 1166kwh of electricity per kw of solar panels per year. 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.

Contact any solar panel company and they will tell you the cost per watt. As per solar economics study by the canadian energy board the solar break even price is already falling below residential electricity. Should you put solar panels on your home in ontario. As energy costs continue to climb and the concerns over environmental change continue to grow more and more people are considering clean energy solutions.

The average installation cost of solar power in canada is 3 01 watt or 22 500 for a 7 5kw system. 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 time of use electricity rates. While solar leases and power purchase.

How are you financing your solar panel system. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value. As a starting point look at the cost of 10 years worth of hydro.