Average Cost Of Installing Solar Panels In Ontario

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

Average cost of installing solar panels in ontario.

The average installation cost of solar power in canada is 3 01 watt or 22 500 for a 7 5kw system. 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. Each one has its own pros and cons from price to efficiency. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs.

That same kilowatt of power when bought from your local utility company costs in the range of 8 to 10 cents. 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. The average cost of installed residential solar power systems is currently 2 60 per watt. With labor and other factors solar panel installation costs a total of 2 50 to 3 50 per 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. You ll pay anywhere from 0 70 to 1 50 per watt to purchase a solar panel. 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. 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.

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. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8 years. There are three types common in the residential market.

Solar panels typically cost in the range of 8 to 10 dollars per kilowatt of power they are capable of providing.