Cost Of Solar Panels In Ontario 2017

They are custom based on the home roof type shading and utility.

Cost of solar panels in ontario 2017.

Installation for the average 5kw system ranges from 11 100 22 400. After claiming 26 tax credit and other rebates the 26 federal solar tax credit explained. 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. The average installation cost of solar power in canada is 3 01 watt or 22 500 for a 7 5kw system.

The average system size in the us is 6 kilowatts which means the average price of a solar system in ontario ca is 13 600. In 2017 the average cost of solar panels in ontario ca was 3 50 per watt which results in a payback period of 6 6 years based on current electricity prices of 0 1887 solar data ohm analytics solar data products. 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. This means in order to maximize your savings potential the best time to go solar in ontario is now.

Our report and power advisory s analysis also looks at the global adjustment charge a growing component of electricity costs that is also attracting attention of late. The average ontario household pays about 11 per month for wind power and 9 for solar power. The most significant incentive to install solar panels in ontario is the 26 federal tax credit. Your actual return will depend on the pitch of your roof s how your roof s face in relation to.

However the tax credit is set to step down to 22 at the end of 2020. We understand that the cost may seem a little bit high but here s the good news depending on the size of your solar system a homeowner can expect to earn a 10 or greater return on their investment under ontario s solar incentive program.