Solar Panel Payback Calculator Ontario

Ontario has the fifth highest potential to produce solar energy in all of canada receiving more solar irradiation than most other provinces except for the prairies and quebec.

Solar panel payback calculator ontario. How much will solar panels cost for an average ontario customer. The typical solar payback period in the u s. According to the ontario energy board the average ontario household consumes about 9 000 kwhs of electricity per year. How is the solar panel payback period calculated.

The simplest way to calculate solar payback is to use the simple payback method. Our solar payback and roi calculator will help you make conscious decisions about your switch to a more environmentally friendly way to consume power. For example if you can divide 10 000 by 1 000 you already know how to use the simple payback method to calculate the payback for solar panels. The average installation cost of solar power in canada is 3 01 watt or 22 500 for a 7 5kw system.

If your cost of installing solar is 20 000 and your system is going to save you 2 500 a year on foregone energy bills your solar panel payback or break even point will be 8 years 20 000 2 500 8. Conclusion on solar payback calculator. Is just above 8 years. 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.

According to data from national resources canada the average solar system in ontario can produce 1166kwh of electricity per kw of solar panels per year. Finally on the inputs tab you will see both a pre tax and after tax calculation of the internal rate of return irr on the investment of putting in solar. The simple payback method calculates the number of years it will take for your solar system to pay for itself. Cost of solar power in canada 2020.

However with the feed in tariff a government scheme that entitles those generating energy from solar panels to 20 years of payments having closed in march 2019 it could be easy to. 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. 3 84 kw gridtied battery backup solar system with outback power center and 12x heliene 320 panels wss outback grid tie w battery backup system for 12 heliene 60 cell modules 17 142 92. See how long it will take for a solar system to pay for itself.

Solar panels are at their cheapest price since 2010 so even though they re still a large investment the solar panel payback time could be shorter than ever. Comparing quotes from multiple solar installers can actually help you go solar with a shorter payback period than the national average. Solar savings payback calculator.