Cost Of Solar Panels In Ontario 2017

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Cost of solar panels in ontario 2017.

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. In 2017 the average cost of solar panels in ontario ca was 3 50 per watt which results in a payback period of 6 6 years based on current electricity prices of 0 1887 solar data ohm analytics solar data products. Explore solar panel installation services. The average installation cost of solar power in canada is 3 01 watt or 22 500 for a 7 5kw system.

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. No two solar power systems are the same. Our report and power advisory s analysis also looks at the global adjustment charge a growing component of electricity costs that is also attracting attention of late. With a current installed cost per watt of solar generation at between 2 50 and 3 00 per watt that means that a 7 500 watt solar array is going to run somewhere between 18 750 and 22 500.

The average ontario household pays about 11 per month for wind power and 9 for solar power. This means in order to maximize your savings potential the best time to go solar in ontario is now. However the tax credit is set to step down to 22 at the end of 2020. After claiming 26 tax credit and other rebates the 26 federal solar tax credit explained.

Installation for the average 5kw system ranges from 11 100 22 400. The most significant incentive to install solar panels in ontario is the 26 federal tax credit.