How Much Do Solar Panels Cost in Vancouver?

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solar panels Vancouver

To begin with, solar panels are expensive, but they eventually pay for themselves. The more sunlight there is where you live the more money you’ll save on your electricity bill. Solar panels have long been seen as an important step toward reducing our reliance on fossil fuels for two reasons: firstly, because they provide clean energy without pollution and greenhouse gases, and secondly because they provide energy independence.

One of the first questions that come to our mind when we plan on installing a solar panel at our property is, will it break the bank? There are a few factors that determine how much it will cost to install solar panels, but the most important factor is the price of these systems. So without further ado, let’s begin.

How Much Does a Solar Panel Cost on Average?

The cost of installing solar will depend on the size of your installation, whether you need permits to install the system, if any equipment must be imported, how many hours are required for installation, what kind of installer is being used, how many other homes or businesses supply energy to your home, and where you live. The average estimate for the installation of a solar panel system in Canada is around $6/watt, which means that installing a 5 kilowatt (kW) solar system would cost about $30,000 before any applicable rebates or incentives.

However, the cost of solar has come down significantly in recent years, although it still remains more expensive than most other energy sources. Currently, you can expect to pay anywhere from $4/watt for a small installation on an outbuilding or home where the roof is not ideal for solar panels, up to $7/watt for an average size system on a large house with great solar exposure.

The average homeowner in Vancouver can expect to pay around $10,000-$12,000 for their solar system, which can provide savings of around $4000-$15,000 over 25 years. The average household in the city uses about 20-25 kilowatt-hours (kWh) of electricity per day, and with the average cost of electricity in Vancouver at $0.19/kWh that amounts to around $4260-$5875 in savings over a 20-25 year period.

What Factors Influence the Cost of Solar Panels in Vancouver, Canada?

The cost of solar panels in Vancouver is minimal compared to other cities like Toronto or Montreal. The reason for this is that there are less expensive homes in Vancouver because the land value is higher, therefore less sunlight falls on the house; making it more difficult to reach net-positive energy month after month.

Another factor that impacts the price of a solar system is the installation time, labor costs play a significant role here because they are high in Vancouver. The installation might take anywhere from one to three days depending on the number of panels you require and your location.

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The size of your home also impacts the price because larger homes need more solar energy, which means that there should be more solar panels.

Are You Searching for Cost-Effective Solar Panel Installation in Vancouver?

Modern Electric Inc. offers cost-effective solar panel installations for residential and commercial properties. Our main goal is to provide high-quality solar products at very affordable prices to our customers while maintaining our 100% satisfaction guarantee policy which means that we will work with you until your system is fully working and completely satisfactory!

Are you looking to save money on energy? Contact Modern Electric Inc. today to find out how we can help you do just that! We provide free initial consultation so don’t hesitate and contact us right now for a free estimate! Call: (778) 887-8343 or visit our homepage for further details.

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