Solar Panel Cost Guide in Ontario, OR (2024 Update)
- Ontario Solar Installation Cost: $9,107
- 25-Year Savings: $15,542
- Payback Period: 10.1 Years
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Average Cost of Solar Panels in Ontario
Find out how much it might cost to make the switch to solar in Ontario.
The national average cost of solar panels is $2.66 per watt, but in Ontario it’s 4 per watt.The average solar panel system size in Ontario is around 3.7 kilowatts, meaning a cost of about $9,107 for a solar installation, or $13,023 before the 0 federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Ontario based on a variety of factors, such as the type of solar panels you choose and the solar installer you hire.With average savings of about $24,000 on electricity bills over 20 years, many homeowners in Ontario find going solar can pay off big.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Ontario
| Year | Return on Investment |
|---|---|
| 1 years | $-8,075 |
| 3 years | $-6,012 |
| 5 years | $-3,949 |
| 7 years | $-1,885 |
| 9 years | $178 |
| 11 years | $2,241 |
| 13 years | $4,305 |
| 15 years | $6,368 |
| 17 years | $8,431 |
| 19 years | $10,495 |
| 21 years | $12,558 |
| 23 years | $14,621 |
| 25 years | $16,685 |
Top Solar Installers in Ontario
When making the switch to solar, many homeowners choose to go with a solar installer since putting up a solar system yourself can be a challenging project. Plus, if you’d like to maximize your investment in solar, going with a solar company can help with that as well. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Ontario
Factors that Affect Solar Panel Costs in Ontario
There are a number of factors that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The kind of solar panels and equipment you want is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Further, solar equipment consists of more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Ontario to be too costly, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installer you hire to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies in Ontario, and each can charge varying amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.64 | $15,288 | $20,978 | 10.5 years |
| 8 kW | $3.57 | $19,992 | $28,362 | 10.3 years |
| 10 kW | $3.50 | $24,500 | $35,943 | 10.1 years |
| 12 kW | $3.43 | $28,812 | $43,719 | 9.9 years |
| 14 kW | $3.36 | $32,928 | $51,692 | 9.7 years |
| 16 kW | $3.29 | $36,848 | $59,860 | 9.5 years |
| 18 kW | $3.22 | $40,572 | $68,225 | 9.3 years |
| 20 kW | $3.15 | $44,100 | $76,785 | 9.1 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases provide high-quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Contract: Before signing a contract with a solar installer, make sure to look it over carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Ontario, OR Solar Cost FAQs
What is the average cost of installing solar panels in Ontario?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $17,500 for a 5-kW system and $35,000 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Ontario?
A solar panel system isn’t free in Ontario, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can you sell solar power back to the grid in Ontario?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future power bills.
How long do solar panels last in Ontario?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.