Are Solar Panels Worth It Ontario

How are you financing your solar panel system.

Are solar panels worth it ontario.

Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value. In this article we look at each province and territory to examine if solar panels make sense in your area. As energy costs continue to climb and the concerns over environmental change continue to grow more and more people are considering clean energy solutions. As a starting point look at the cost of 10 years worth of hydro.

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. The average installation cost of solar power in canada is 3 01 watt or 22 500 for a 7 5kw system. While solar leases and power purchase. Ontario time of use electricity rates.

Cost of solar power in canada 2020. Should you put solar panels on your home in ontario. According to data from national resources canada the average solar system in ontario can produce 1166kwh of electricity per kw of solar panels per year. As per solar economics study by the canadian energy board the solar break even price is already falling below residential electricity.

If you have enough to make a purchase in cash you ll save more than with any other option but even with a 0 down solar loan your savings could still be in the tens of thousands. Contact any solar panel company and they will tell you the cost per watt. But the high initial cost of solar panel installation makes many canadians wonder if it is worth the investment.