Residential Solar Panels Cost Ontario

The average system size in the us is 6 kilowatts which means the average price of a solar system.

Residential solar panels cost ontario.

How are you financing your solar panel system. Not sure what this number means or how to use it. 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. 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.

The current average price range in ontario is about 2 34 2 59 kwh. 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. The most significant incentive to install solar panels in ontario is the 26 federal tax credit. 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.

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

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. That same kilowatt of power when bought from your local utility company costs in the range of 8 to 10 cents. Solar systems have ratings based on the electricity produced annually in average conditions. 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.

The average installation cost of solar power in canada is 3 01 watt or 22 500 for a 7 5kw system. Solar energy cost per kwh. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value. A typical 6kw system costs 11 544 after claiming the 26 solar tax credit.

The average cost of installed residential solar power systems is currently 2 60 per watt. 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. Cost of solar power in canada 2020.