Cost Of Installing Solar Panels Ontario

The cost of installing the appropriate solar setup on a home is significant but in many cases it is both a sound financial and environmental decision.

Cost of installing solar panels ontario.

The average cost of installed residential solar power systems is currently 2 60 per watt. Cost of solar power in canada 2020. Solar power systems are very custom based on the home roof type shading and utility. 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.

Find out how solar panels work cost of solar panels and get quotes from ontario solar installers for your home solar panel installation reduce your hydro bill by 50 100 install a solar net metering system generate your own electricity and replace power otherwise bought from the grid at the highest rate during the day. At today s pricing a solar system would typically cost you anywhere from 20 000 40 000 in ontario depending on the size of the system 40k for a 10 kw system and 20k for a 4 5 kw system. The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house. Sean flanagan owner and technician at the ontario based flanagan and sun estimated that the cost of installing a 10 kilowatt system the most common capacity on an average sized home would.

Installation of panels for the average 5kw system ranges from 11 100 22 400. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. How much will solar panels cost for an average ontario customer.

The current average price range in ontario is about 2 34 2 59 kwh. Currently the general payback period for an appropriately sized residential solar system is 8 10 years once all costs are factored in. The average installation cost of solar power in canada is 3 01 watt or 22 500 for a 7 5kw system. We understand that the cost may seem a little bit high but here s the good news depending on the size of your solar system a homeowner can expect to earn a 10 or greater return on their investment under ontario s solar incentive program.

This means that to offset 100 of their electrical use an average ontario homeowner would need to install an approximately 7 500 watt solar array. Cost of installation the upfront cost of installation is obviously one of the largest factors that determine whether or not a person is going to switch to solar.