Solar panel cost?

Solar Panel Cost

Solar panel cost? You know it’s funny, at Unconquered Sun when whenever our clients ask the question how much does a solar panel system cost? Our standard answer is simply – solar panels don’t cost… – they pay!

Welcome to the ultimate solar guide! Solar Panel Cost? Edition.

After all, an Unconquered Sun Solar Panel system is available to any Canadian homeowner for no money out of pocket. We strive to design systems which completely net meter (or net zero) electricity usage at the property. All of this at a “cost” which is less per month than grid imported electricity!

The difference between renting and owning your power!

After a while your USST system is completely paid off, and your property effectively never has an electrical usage bill again! To sum up.. You escape the monthly home electric commodity costs that would normally continue on forever, plus you avoid all future rate hikes. All while contributing to the equity of your home rather than throwing your money away each month! This is where the real savings begin!!

Take a look below at the statistics publicly available on the Ontario Energy Board website. You’ll see that in Ontario for instance, the increase in commodity rates for electricity have been hovering around 8% each year;

Solar Panel Cost vs Rising Cost of Electricity

People talk a lot about simple payback, ROI and everything in between – but the truth is that without solar panels on your roof you will be paying your monthly electric bill (and all rate hikes along the way) until you die! Just think about that for a second….

Can anyone out there tell me if they know of a utility co. that promises their customers an exact date from which they will no longer pay or owe a monthly electricity bill??

**Boom** Mind blown??

And that my friends is the promise of solar! And that is why we tell our clientele that solar panels don’t cost… – they pay!

This is where the real savings add up. For example, in many locations across Canada the lifetime savings from a residential solar system can well be into the hundreds of thousands of dollars. Which obviously begs the question – What would you use that money for over time if you didn’t have to spend it on electricity?? Would you go on more vacations?, would you use it for your children’s educational savings?, would you put it towards an early retirement fund? Or would you simply not work as much? and spend more time with your family paying more attention to the things that matter most in life… For more information check The Ultimate Solar Guide Considering solar panels for your home? edition.

Ok , Let’s get down to it

I’d like to state now unequivocally that cheaper is not always better! Ultimately, when selecting a solar provider, the best advice I can give is to choose a company that has made the commitment towards business longevity here in Canada.

For instance, here at Unconquered Sun Solar Technologies Inc. we are definitely not the dollar store of solar.. We are not in any race to the bottom in terms of the price of our systems. I believe a ‘dollar store’ mentality ultimately leads to cutting corners, the use of cheap components, and poor customer service post installation… Have you ever bought a non-stick frying pan from the dollar store? Feel me? 🙂

At USST we have made the commitment to be around for a long, long time, and we are busy building an extensive footprint across Canada. We own a 30,000 sq ft manufacturing plant and employ many of the most talented minds in the solar industry. To my knowledge, we are the only solar panel provider in Canada who provide both benefits and an opportunity for retirement savings to our valued employees. In short we are building a company to last for our clientele.

Want the easy button?

This is the part where I insert a shameless plug for Unconquered Sun! Sorry if it sounds a little promotional but it is accurate.. At Unconquered Sun Solar Technologies Inc. our qualified team of professionals are standing by to advise you with a FREE no obligation solar analysis design and quote for your home or business. A USST professional will recommend a solar panel system which is tailored to your home or business, advise you on the size, any costs, required documentation and approvals.

Also I believe the quality of design, system components and installation here at Unconquered Sun to be absolutely beyond compare. And our 1.9% financing available to all USST clientele is without parallel in the solar industry!

Like to geek out on research?

However, If you are one of those who likes to geek out on the research, see below everything you’ll need to calculate the cost of a solar panel installation in your area;

Solar Panel Cost Information

**At the time of writing the average installed cost of solar power averaged across Canada is approx. $3.53/Watt, or $35,300 for a 10kW system. However, the cost of solar installs change based on the size of the system required, the eligibility for solar incentives, the type of equipment used, and your specific location within Canada.

Determining the cost of installing a solar panel system specific to your home comes down to two things:

  1. The cost of the solar panel system (per watt installed)
  2. The size of the solar panel system needed (in watts)

#1 is easy, all you need to do is determine how an installer charges “per installed watt”. #2 requires a simple calculation taking into account your annual electricity usage and how much sunlight your location gets on average.

1) Solar Panel Cost per Watt Installed

See below – some of the current average costs per installed Watt broken down by province:

Alberta $3.02/Watt
British Columbia $2.77/Watt
Manitoba $3.13/Watt
New Brunswick $3.64/Watt
Newfoundland & Labrador $4.50/Watt
Northwest Territories $3.50/Watt
Nova Scotia $3.13/Watt
Nunavut $4.50/Watt
Ontario $3.20/Watt
Prince Edward Island $3.31/Watt
Québec $3.12/Watt
Saskatchewan $3.30/Watt
Yukon Territory $3.50/Watt

2) Solar Panel System Size in Watts

Sizing your solar panel system requires the following:

  • Estimated Energy (home) Consumption
  • Estimated (Solar Panel System) Energy Export

Estimated (home) Energy Consumption

Solar systems are sized based on the energy output that’s required. So, you’ll need to determine how much energy your household consumes over the course of a year (in kWh) by adding up the amount shown on your electric or (hydro bill).

All electricity bills are slightly different, but let’s take the one below from Enwin, located in Windsor ON as an example. You can see that this customer used 1,100kwh in the month of July :

Solar Panel Cost

Now for some fun! Tally up your bills for the past 12 consecutive months the sum being your annual usage. This number typically ranges from 7,000 to 14,500 kWh for the average Canadian home.

Estimated (Solar Panel System) Energy Export

The next thing you need to know is how much energy your panels will produce or export based on the area that you live in. Output is based purely on the amount of sunlight hours that you receive in your location during the year.

Here is the annual average of sunlight hours broken down by province:

Alberta1,276 hours
British Columbia1,004 hours
Manitoba1,272 hours
New Brunswick1,142 hours
Newfoundland and Labrador949 hours
Northwest Territories1,064 hours
Nova Scotia1,090 hours
Nunavut1,092 hours
Ontario1,166 hours
Prince Edward Island1,104 hours
Quebec1,183 hours
Saskatchewan1,330 hours
Yukon965 hours

Solar Panel Cost Calculation

Now that you know both your annual energy usage and the average annual full sunlight hours that your house gets, you can calculate the size of the system you need with the following equation:

Size of system needed (in kW) = yearly energy use (in kWh) / annual average equivalent of full sunlight hours (in hours)

So, you’ve added up your power bills and determined that you use 10,000 kWh annually. Let’s say that you live in Ontario which receives an annual average of 1166 full sunlight hours per year. You would perform the above calculation to determine that the size of the system you need is 8.58kW

(10,000kWh / 1,166h = 8.58kW)

This number can then be multiplied by the estimated cost per watt quoted in the pricing table above to get your final price!

This means that a 8.58 kW system would cost around $27,456.00 in Ontario.

(8,580 Watts * $3.20/Watt = $27,456.00)

Ready for the easy button yet?

So….., If you have made it this far, and are still curious about the cost of solar panels for your home, but you’d like to skip the math exercise above…. NO WORRIES! Let’s get started;

Simply click the links below!

  1. Request a FREE solar analysis, design and quote
  2. Pre approve yourself for USST’s exclusive No Money Down, 1.9% un secured financing option!

Check out the vid below;

Well, this concludes the Solar Panel Cost? Edition of the Ultimate Solar Guide from Unconquered Sun!

Hopefully the above will serve as a valuable reference on your solar journey. I truly hope you have found the content helpful. Please feel free to respond with any comments or suggestions you may have!

 More to come!!

Sean Moore , Founder Unconquered Sun Solar Technologies Inc