Are Solar Panels Worth It In Ontario

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.

Are solar panels worth it in ontario.

You also have to consider the amount of sunlight your area gets whether or not your province offers solar incentives and the size of the equipment you would need. 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. Solar panels have come down significantly in ontario since the liberals introduced the feed in tarrif program 10 years ago. Charlebois said the average cost for a 5 kilowatt solar installation.

The pros about using solar energy for your home are long term according to mike holmes a famous canadian builder contractor businessman investor television host and philanthropist you are going to consistently save money on the monthly output of. The average price of solar power in canada is 3 07 watt. Ontario s time of day electricity rates make the cost of solar about 95 per cent of the average cost to buy power from the grid. As per solar economics study by the canadian energy board the solar break even price is already falling below residential electricity rates in ontario which means you can expect considerable savings by installing solar.

How much energy you use vs how much solar energy you can harness. Your actual return will depend on the pitch of your roof s how your roof s face in relation to due south and if there are any shade factors to. 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. 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.

At that time it wasn t uncommon to see solar costing 10 watt and we re down to as low as 2 25 watt today. According to data from natural resources canada the average solar system in ontario can produce 1166kwh of electricity per kw of solar panels per year. But that s not the whole cost.