1. Hydro rates in Ontario are the third–highest in the country and are on track to increase at least 6-7% every year. If you install solar panels on your roof and generate your own electricity, you can reduce or eliminate your hydro bill NOW, and save yourself thousands of dollars down the road.
2. The highest price we pay for electricity is $20.8 c/kWh (as per time-of-use rates in Ontario). This peak usage happens during the day when most people switch on lights and appliances and businesses run their operations. What if you could offset this high cost by harnessing free solar energy?
Ontario Time-of-use Electricity rates. Source: Ontario Energy Board
3. The cost to install solar panels has fallen by more than 50% in the past five years, which further reduces the solar panel payback period. Per a solar economics study by the Canadian Energy Board, the solar break-even price is already falling below residential electricity rates in Ontario, which means you can expect considerable savings by installing solar.
Residential Solar Breakeven Price in Ontario. Source: Canada Energy Regulator (CER)
4. You can get rid of the Delivery Charges too! As per solar Net-Metering terms and conditions: “if your net consumption for a billing period is zero, or a credit, the delivery portion of your bill will not include kilowatt-hour based charges”.
Source: Hydro One Networks
There are many other benefits of installing solar panels for your home, and if you are interested to learn how much solar panels cost in Ontario and if solar panels make sense for your own house or property, fill out a Request Form and we’ll get back to you withing 24 hours!
