Cost Of Installing Solar Panels Ontario

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.

Cost of installing solar panels ontario.

According to the ontario energy board the average ontario household consumes about 9 000 kwhs of electricity per year. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. Installation of panels for the average 5kw system ranges from 11 100 22 400. Not sure what this number means or how to use it.

Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. 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. A typical 6kw system costs 11 544 after claiming the 26 solar tax credit.

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. Solar power systems are very custom based on the home roof type shading and utility. Cost of solar power in canada 2020. The current average price range in ontario is about 2 34 2 59 kwh.

The average cost of installed residential solar power systems is currently 2 60 per watt. Currently the general payback period for an appropriately sized residential solar system is 8 10 years once all costs are factored in. 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. 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.

How much will solar panels cost for an average ontario customer. 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.