How Much Does It Cost To Install Solar Panels Ontario

Posted on november 11 2013 by admin if you ve been considering solar for your home or business we re pretty sure you ve also been thinking about how much it s going to cost you.

How much does it cost to install solar panels ontario.

According to the ontario energy board the average ontario household consumes about 9 000 kwhs of electricity per year. However solarreviews handles more than 1 000 quote requests per day and the current average price we see on our marketplace is 2 64 per watt. A 5 kw solar system will produce enough energy to offset up to 75 of the average domestic consumption depending on the system installed and home occupant s habits and will cost around 25 000. 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.

How much does it cost to install solar panels in ontario home residential. Average solar panel cost. The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house. How much will solar panels cost for an average ontario customer.

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. The most recent official data from the doe funded lawrence berkeley labs published in september 2019 found that the median cost of residential solar panels is 3 70 watt. 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.

Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. National data september 2020. Solar power systems are very custom based on the home roof type shading and utility. 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. 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.