16 Best Solar Companies in Ontario, OH (Mar 2023 Review)

The Cost and Benefits of Solar in Ontario

For lots of homeowners, the decision to invest in solar energy boils down to the cost. There are a few factors you should consider when trying to figure out costs and your potential savings, including:

• Your income and budget: This guides what type of solar panels you can get.
• How much you spend on energy: If your local electricity rates are quite high, there's a good chance you'll see a higher return on your investment in solar panels. In Ontario, you can save an average of $98 a month on your electricity bills.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you receive a tax credit curretnly worth 30% of your overall installation cost, your state or local government may offer additional tax exemptions, credits or rebates that will help you save even more. Aside from incentives, you can save an average of $14,000 over 20 years with your solar panels, too.
• Your energy consumption: If your household regularly uses a lot of energy, you'll benefit more from installing solar panels.

Although a solar panel system costs a sizable chunk of money upfront, it can save you a considerable amount in the long term. The question of how much, though, depends on a number of factors, such as the size of your solar panel system and incentives.

Solar Incentives in Ontario

One of the good things about installing a solar panel system is earning federal and potentially state incentives. State and city solar incentives depend on the location and, sometimes, utility company. Many states offer rebates for solar power, in addition to the federal solar tax credit. Our article on solar incentives goes over more in-depth information on the incentives you can benefit from in Ontario.

Environmental Impact of Switching to Solar in Ontario

One of the best reasons to adopt solar power is to decrease your reliance on nonrenewable energy sources like burning fossil fuels, which are hazardous for the environment. But how much can switching to solar actually affect the environment? In a city like Ontario where energy use is rather high, going solar is a good idea for households who are eco-conscious. In fact, if you adopt solar power, you could lower your carbon dioxide emissions by about 80 pounds each year. Since energy from the sun is renewable and generates electricity without a carbon footprint, installing solar panels is one easy step you can take to help protect the environment.