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Are Solar Panels Worth It In Ontario – As an Ontario resident, you may be wondering if installing a solar energy system is worth it. Solar energy is undoubtedly worth every penny as it will give you reliable backup power and cheaper electricity costs in the long run. Plus, they help you save money and reduce your carbon footprint. To fully understand how an Ontario solar panel system can benefit you, you need to understand the installation process. Consider the number of panels you can place on your roof and the required distance. Also necessary are net metering, the benefits of installing solar panels on your roof, and the cost of installing solar in Ontario.
If you are new to solar installations or the solar panel system, this is the most likely question on your mind. Which solar systems supply the house with power and which are most suitable for your energy consumption?
Are Solar Panels Worth It In Ontario
This solar panel is going viral and when it comes to more power and durability, it has an edge over other solar panels. The average return is 24%, while the life span ranges from 25 to 40 years. The upfront cost is more expensive than other panels, but the value it provides for most homeowners makes it worth it.
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The production of monocrystalline solar panels uses a non-toxic, stable and pure silicon rod. Solar system manufacturers extract the wafers from this rod to create a photovoltaic solar panel. At the end of the production process you have mono panels that are not only environmentally friendly, but also very efficient in generating electricity by using the sun’s renewable energy.
This solar panel is usually dark in color, making it easy to match the color and design of the average household. These mono panels are the recommended choice if you want to install solar panels on your entire roof surface.
This is the least popular solar panel, but it is also an option if you want to generate electricity. It has an average efficiency of 19% and is also relatively durable, with a lifespan that can last a decade or two. This solar panel is called “thin film” because of the slimness of the semiconductor materials used to make it. They are typically laid as a film on any surface, most likely a roof. Solar panel system manufacturers produce thin film panels in variants such as 60 cell, 72 cell and 96 cell panels.
Thin-film panels also come in different types; amorphous silicon panels, cadmium telluride panels and copper indium gallium selenide. If you are concerned about your budget, this is the best solar panel system for your annual energy consumption because it is the cheapest form. Its slim shape makes it the most streamlined, flat and flexible panel. However, to meet the solar energy needs of an average home, you will need more solar panels than are needed for other types of gatherings.
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This panel can also be called a hybrid panel because it is made of several silicon crystals, unlike other types that are made of only one crystal. To manufacture polycrystalline solar cells, silicon fragments must be melted and then transferred into a mold. Polycrystalline panels have lower solar energy efficiency than mono panels because they contain less pure silicon than the latter.
As for polycrystalline panels, the average solar panel has a solar energy efficiency of 20%. Its durability is better than that of thin-film panels, as it lasts between 25 and 35 years. However, this investment in solar energy has a particular disadvantage: it is less resistant to heat, which means that it cannot absorb the total amount of sunlight. What’s unique about this panel is its blue color and the physical space it requires due to its system size. This panel is recommended for homeowners with extensive roofs.
As more Ontario homeowners look to clean energy and renewable energy projects to reduce carbon emissions and lower energy bills, you need to know how much space is required to install solar panels. A small home in Ontario may need about 200 square feet of roof space to install a solar system, while a large home may need a thousand square feet or more.
The number of solar panels you need for the average Ontario home for off-grid energy depends on two primary factors; the number of solar cells and the type of solar panel you want to use.
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The number of solar cells per panel determines how much energy a panel can extract from the sun. So the more cells a panel has, the more electricity it can generate per square meter and the less space you need to install it. For example, five 72-cell panels will generate the same solar energy as six 60-cell panels, but the latter will take up more space on your roof.
As we mentioned earlier, monocrystalline panels are the most efficient type of solar panels because they produce more watts per square meter. That is why they naturally require less space than other panels. On the other hand, polycrystalline panels are less efficient than mono panels, meaning they require more space to generate more solar energy. Thin film panels are the least effective and require much more space than mono and poly panels. One option is to add more solar panels later if you don’t have the budget for a full installation from the start.
The average panel cost in Ontario is about C$3 per watt. These costs can vary depending on the solar company you hire, the size of the solar system needed, and the energy your home uses. Let’s stick with average costs and assume you buy a 7.5 kW system. The total cost of the panel installation with the battery system in your home is C$22,500. This should be sufficient for a house with an annual equivalent of 9 kW of electricity.
To fully understand the benefits of net metering, you must understand the concept. Net metering is an electrical billing/metering tool that uses the electrical grid to store excess energy generated by the panels. The benefits include:
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You can purchase panels for installation from any reputable solar company in Ontario. Purchase does not necessarily involve installation if you can do it yourself. Another option could be to lease solar panels instead of buying them. The top solar installers in Ontario include Bluewater Energy, Fowler Solar, SunPower, Tesla Energy, etc.
Panels are equipped with photovoltaic cells. This collects sunlight from the sun and converts this solar energy into electricity via the inverter. The amount of sunlight it can receive depends on the weather conditions. It also depends on whether you have installed the panels at an optimal angle. This electricity produced by the panels can be stored in a battery or used to power the house directly.
If you want to use solar energy to electrify your home soon and don’t have the money to make it happen, you can opt for loan programs with very low interest rates. The PACE program funds the entire cost of purchasing and installing solar energy in your home. This loan program can be repaid through property taxes over a payback period of three decades.
There is also alternative financing for solar energy, such as the HELP (Home Energy Loan Program). Homeowners can receive up to C$125,000, with a payback period of up to 20 years. Mansion Global asks real estate tax lawyers a tax question every week. Here’s this week’s question.
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Q. I’m thinking about buying a house in Toronto. Are there property tax benefits for using solar energy?
A. There are no longer tax breaks in Ontario for adding solar or other energy-efficient renovations to homes, although the utility offers some incentives for greener living.
There are also other benefits from the Canadian government. According to the website, the Greener Homes grant offers up to C$5,000 (US$4,012) for the installation of a solar system. Reimbursements are also available for other adjustments, such as switching to more energy-efficient heating equipment or making a home airtight.
At the provincial level, Ontario had incentives to help homeowners adopt solar energy, including GreenON, a program that launched in late 2017 and gave homeowners rebates on home improvements such as solar panels or insulation that would make a home more energy efficient. However, that plan was halted after just a few months when Ontario Premier Doug Ford began his term in early 2018.
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While it doesn’t finance solar systems, local utility Enbridge Gas does offer customers rebates for a number of energy-efficient updates. Users can get up to €5,000 back for projects such as smart thermostats, wall or basement insulation or new heating systems. Making ROI (return on investment) from solar panels is something that many Nadians look at financially. Electricity costs will eventually amount to more than a few fools or toonies per day. After all, the Great White North is a vast country with many provinces and territories. So how do homeowners calculate the ROI of a solar panel to determine if solar panel installation is worth the cost?
Let’s learn more about the ROI of solar panels and how investing in solar energy will ultimately provide tax benefits and lower energy bills.
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