Average Cost Of Installing Solar Panels In Ontario

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.

Average cost of installing solar panels in ontario. The average cost of installed residential solar power systems is currently 2 60 per watt. You can calculate your total system costs with the following equation. 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. There are three types common in the residential market.

The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. 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. 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. 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.

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. That same kilowatt of power when bought from your local utility company costs in the range of 8 to 10 cents. You ll pay anywhere from 0 70 to 1 50 per watt to purchase a solar panel.

Sean flanagan owner and technician at the ontario based flanagan and sun estimated that the cost of installing a 10 kilowatt system the most common capacity on an average sized home would. Just take the size of your system and multiply it by the 2 46 watt the average cost of installing a solar system in ontario. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8 years. The average installation cost of solar power in canada is 3 01 watt or 22 500 for a 7 5kw system.

System cost size of system needed x cost per installed watt.