Are Solar Panels Worth It Ontario

Contact any solar panel company and they will tell you the cost per watt.

Are solar panels worth it ontario.

Should you put solar panels on your home in ontario. 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. Ontario time of use electricity rates. As per solar economics study by the canadian energy board the solar break even price is already falling below residential electricity.

Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value. Then add connection costs and administrative expenses which vary. 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.

As a starting point look at the cost of 10 years worth of hydro. The average installation cost of solar power in canada is 3 01 watt or 22 500 for a 7 5kw system. Cost of solar power in canada 2020. 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.

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 cost to install solar panels has fallen by more than 50 in the past 5 years which further reduces the solar panel payback period. In this article we look at each province and territory to examine if solar panels make sense in your area.