The Cost of Solar Panels in Canada

What is the Cost of Solar Panels in Canada? - Sargeant’s Solar Roofing

 

The first question that just about every single homeowner in Canada has when contemplating a switch to solar energy is “how much will it cost?” It’s a completely understandable question — outfitting your home with solar panels is a significant investment, and it’s worth knowing what to expect in regards to cost. Unfortunately, there is no simple cut-and-dry answer, and the total cost of installing solar panels varies greatly from home to home. Several variables contribute to this wide range of cost, including the total area of your roof, your roof’s pitch, your overall budget, and the solar capacity you’re hoping to achieve. All of these factors can affect the general cost of solar panel installation.

Additionally, “how much does it cost” is a little too broad of a question. When you’re considering solar panel installation, there’s the initial cost of installation (ie. your initial investment), and then there’s how such a power structure will affect your costs in the long-term over the next several decades.

Determining the Cost of Solar Panels in Canada

With all of the variables that go into solar panel installation, there is simply no way to accurately determine the cost of a home solar project without getting a site appraisal and quote from a team of solar roofing professionals like Sargeant’s Roofing. These in-person appraisals are important because they can more accurately predict costs associated with solar panel installation by identifying factors like roof pitch, the state of your roof, and if any roof upgrades are required to handle such a system. Satellite imagery only goes so far in providing an accurate representation of a home’s roof — an in-person assessment is necessary to provide a realistic quote.

Estimating Residential Solar Panel Costs

The average home in much of North America uses about 900 kilowatt-hours per month, although homes can range from as little as 200 kWh/month to more than 2,000 kWh/month, depending on their needs. In general, however, most homes need to generate about 30 kWh a day to meet their needs. The average number of panels needed to meet these requirements can range from as little as 10 to as many as two dozen, meaning that the initial cost of installation can range from $12,000 to $25,000. Keep in mind that this is the average cost before any available tax credits or incentives are applied. Obviously, that’s a big margin, but there really isn’t a great way to narrow down an accurate estimate without getting very specific with your particular home.

Take Advantage of Available Solar Incentives

Fortunately for many homeowners in Alberta, our government is taking alternative energy systems like solar power very seriously and has provided many incentive opportunities to make the transition easier for residents. In an effort to reduce our dependence on coal-generated power, many programs have been introduced to reduce your long-term costs, and can even return some credit back into your pocket.

Residents of Edmonton can take advantage of the “Change Homes for Climate” solar program, which specifically helps Edmontonians install solar systems. Depending on how your home qualifies, you may be able to reduce the cost of transitioning to solar power by as much as 15%.

It’s possible that your solar system may be particularly proficient at collecting and storing solar energy. In these instances, it’s not uncommon for the power company to credit you for excess energy that you’re providing back into the power grid. This is due to the Alberta Micro-Generation regulation that was instated in 2008, making it so that your roof could potentially pay you for producing solar energy! The purpose of these incentives is to make the adoption of solar energy for Alberta residents as easy, painless, appealing, and affordable as possible.

The Value of Solar Panels Compared to Traditional Electrical Grids

Solar power is a long-term investment, but it is an investment that actually has a return. When you pay the power company for electricity, you’re never going to see that money again — there is zero ROI. The solar roof investor recognizes that getting your money back over a long period of time is absolutely better than never receiving a return at all. Think of it this way — is it practical or responsible to rent a vehicle for 30 years? Then why on earth should you “rent” power when an alternative exists that returns that investment into your pocket?

What might be stopping you is the same thing that stops many people from buying a car or a home — the initial investment. It certainly costs more upfront to buy than to rent. However, when you buy a home, you have the opportunity to save money in the long term and earn equity, creating a genuine asset rather than a perpetual expense. Over a 30-year period, most homeowners pay the power company upwards of $33,000, while solar roofing saves homeowners over $12,000 in the same period.

Schedule Your Assessment Today

Solar roofing is only becoming more efficient and effective as time passes. Over time, as the cost of solar systems decreases, the ROI in regards to solar roofing will only become more favorable to Canadian homeowners. Schedule your assessment today with Sargeant’s Solar Roofing in Edmonton! We’re happy to answer any questions you may have, including options like Tesla’s solar roofing tiles and solar battery energy storage products. Contact us today!

Photo Credit:

Giorgio Trovato
Used under Unsplash License 
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