Solar panel installation costs & benefits across Canada

As energy prices continue to rise, many Canadians are exploring the option of installing solar photovoltaic (PV) systems at their homes. While these systems can come with a significant upfront cost, they also offer a number of benefits that make them an attractive investment over the long term. In this blog post, we'll take a look at some of the costs and benefits of residential solar panel systems in Canada, as well as grants that may be available to help offset a portion of the initial expense.

The cost of a residential solar panel system can vary greatly depending on a number of factors, such as the size of the system, the efficiency of the solar panels, and the complexity of the installation. On average, homeowners can expect to pay anywhere from ~$11,500 to ~$21,500 for a typical 5 kW solar panel system in Canada (see table below for more details).

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Source: Energyhub.gov

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While this may seem like a big investment, the long-term savings from lower utility bills, especially during peak times make the initial investment worthwhile.  Additionally federal and provincial grants across Canada can help offset a portion of the initial investment, making the installation of solar panels on your home more affordable.

In addition to the cost savings on your utility bills, there are a number of other benefits that come with installing a residential solar panel system. Here are a few of the key advantages:

1. Increased Home Value - A residential solar panel system can increase the value of your home, making it a more attractive investment if you decide to sell in the future.
2. Reduced Carbon Footprint - By generating your own clean energy, you can significantly reduce your carbon footprint and help combat climate change.
3. Energy Independence - With a solar panel system, you're no longer dependent on the grid for your energy needs, providing a greater sense of energy independence and security.

There are a number of grants available across Canada (like the Greener Homes Grant) to help homeowners offset the cost of a residential solar panel installation. The table below lists a few of the current incentives across the Provinces Saaf offers its services in:

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In addition to the Province wide incentives, certain municipalities (like Edmonton or Banff) might have some additional incentives to help offset some of your upfront investment. Make sure to search for applicable Solar incentives in your area.

Saaf (your hub for green home improvements) will help get you quotes from qualified contractors in your area and showing you your savings from rebates on those quotes at no cost to you. Come check out our website and start your journey to savings and a better home with us. To learn more visit our FAQ page, contact us or write to us at info@saaf.io 

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Sign up now to list your project and get the ball rolling – we’re excited to partner with you on your journey to add solar panels to your home.