Are Solar Panels Worth The Investment Ontario

As the builders of your dream home the experts at l.

Are solar panels worth the investment ontario.

Are solar panels worth it. Charlebois said the average cost for a 5 kilowatt solar. 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. In order to assess whether installing solar panels is worth the upfront cost of installation you need to look at how long it will take to pay off the system.

In this article we will outline a few tips for installing solar panels in ontario. 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. In this article we will discuss whether residential solar panels are worth the investment. Now let s take a look at some tips for solar panels in ontario with regards to financing placement and the benefits thereof.

Patten and sons highly recommend considering solar for any new custom home builds. 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. If you are planning on building a custom home in ontario solar panels are definitely worth considering. It would cost you just under 29 000 to install solar panels on your home not including any incentives your province might offer.

Another important consideration is residual value the panels themselves do not have much value on the secondary market but recouping the full investment when you sell the property shouldn t be a problem. 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. 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.