How Much To Install Solar Panels For Your Home Ontario

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.

How much to install solar panels for your home ontario.

Ontario is currently ranked the 6 province in the country for installing a solar power system scoring as one of the best provinces for upfront system costs and financing options. This page contains all relevant information about installing solar in ontario including utility policies system financing solar incentives and natural factors updated as of may 1st 2020. Planning for solar in a new home should become a priority. With the 26 federal tax credit reducing at the end of 2020 millions of american homeowners are asking themselves whether or not installing solar panels is worth it this year.

The average installation cost of solar power in canada is 3 01 watt or 22 500 for a 7 5kw system. According to the ontario energy board the average ontario household consumes about 9 000 kwhs of electricity per year. In ontario this credit can be carried forward for up to 12 months according to the flanagan. 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 solar power in canada 2020. So let s say you have enough space on your roof s to install a 10 kw solar system ontario s microfit program allows for a system the size of 10kw or less. In ontario microfit is a program where homeowners and business owners can install a solar microgeneration plant 10 kw and under and be paid a guaranteed rate of 80 2 cents kwh for the power your solar system produces under a 20 year contract with the government. In this case you would be looking at an investment of 40 000 plus tax don t worry about the tax as you can apply to receive all of this back.

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 will definitely continue to gain momentum in the coming years as the ontario government moves to make all new home builds net zero by 2030. The answer depends on many factors including where you live how much roof space you have if your roof is shaded how much power you use what your local utility charges you for electricity and the prices offered by. By flanagan s estimation net metering in ontario is worth about 14 cents per kwh based on the cost of electricity.

This means homeowners who install solar panels when microfit is no longer available will need 18 years for the system to pay for itself. How much will solar panels cost for an average ontario customer. Maybe you saw a sticky note posted on your front door that said you had been pre qualified.