Residential Solar Panels Cost Ontario

How are you financing your solar panel system.

Residential solar panels cost ontario.

Solar energy cost per kwh. The average installation cost of solar power in canada is 3 01 watt or 22 500 for a 7 5kw system. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value. The average cost of installing residential solar panels in ontario california in 2020 is 2 72 per watt.

The average cost of installed residential solar power systems is currently 2 60 per watt. This means in order to maximize your savings potential the best time to go solar in ontario is now. Solar systems have ratings based on the electricity produced annually in average conditions. 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.

At today s pricing a solar system would typically cost you anywhere from 20 000 40 000 in ontario depending on the size of the system 40k for a 10 kw system and 20k for a 4 5 kw system. A typical 6kw system costs 11 544 after claiming the 26 solar tax credit. 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. Even so let s look at some numbers so you have more information than just the fact that it depends on a couple of factors.

The current average price range in ontario is about 2 34 2 59 kwh. Residential solar panels cost 2 53 to 3 15 per watt with most homeowners spending 2 70 per watt on average before any tax credits or incentives. 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. Cost of solar power in canada 2020.

While solar leases and power purchase. 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. The most significant incentive to install solar panels in ontario is the 26 federal tax credit. Solar panels typically cost in the range of 8 to 10 dollars per kilowatt of power they are capable of providing.

Commercial solar costs 1 83 per watt on average. 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. However the tax credit is set to step down to 22 at the end of 2020.