Solar Panel Cost Guide in Ontario, OH (2024 Update)
- Ontario Solar Installation Cost: $18,379
- 25-Year Savings: $15,532
- Payback Period: 15.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Ontario
Here’s how much it might cost to go solar in Ontario.
In Ontario, solar panels cost about 3 per watt on average.Since a 7.7-kW system is needed to cover the energy needs of a typical home in Ontario, the average price of going solar will be about $18,379 after claiming the federal solar tax credit of 0.
These figures are only estimates, and the cost of going solar for you will differ based on factors unique to your home and what company you want to go with.For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Ontario see about $14,000 in savings on utility bills over 20 years.
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 | $-17,158 |
| 3 years | $-14,718 |
| 5 years | $-12,277 |
| 7 years | $-9,837 |
| 9 years | $-7,397 |
| 11 years | $-4,956 |
| 13 years | $-2,516 |
| 15 years | $-75 |
| 17 years | $2,365 |
| 19 years | $4,806 |
| 21 years | $7,246 |
| 23 years | $9,687 |
| 25 years | $12,127 |
Top Solar Installers in Ontario
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Going with an installer can make converting to solar power much easier. Some solar installers, particularly local ones, can help you make the most of incentives in Ontario, thereby optimizing your ROI.
If you're searching for a solar installer in Ontario, we've put together a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Ontario
Factors that Affect Solar Panel Costs in Ontario
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Ontario: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. In addition, extra products, such as solar batteries, can bring your total well above the Ontario average.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a popular route because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the growing popularity of renewable energy solutions in Ontario, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.The size of the company sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.55 | $14,895 | $7,960 | 16.3 years |
| 8 kW | $3.48 | $19,478 | $10,996 | 16.0 years |
| 10 kW | $3.41 | $23,870 | $14,222 | 15.7 years |
| 12 kW | $3.34 | $28,071 | $17,640 | 15.4 years |
| 14 kW | $3.27 | $32,081 | $21,248 | 15.0 years |
| 16 kW | $3.21 | $35,900 | $25,047 | 14.7 years |
| 18 kW | $3.14 | $39,529 | $29,037 | 14.4 years |
| 20 kW | $3.07 | $42,966 | $33,219 | 14.1 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Contract: It’s important to read your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Ontario, OH Solar Cost FAQs
How much does it cost to install solar panels in Ontario?
The average cost of solar panels in Ontario is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Ontario?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can you sell solar power back to the grid in Ontario?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future energy bills.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.