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Do You Really Save Money With Solar?
Brian McKay • June 9, 2021
Solar technology has been around since the 1950s, but thanks to declining solar module prices, it has only been considered a financially viable technology for widespread use since the turn of the millennium.
Homeowners who install solar power systems receive numerous benefits, but these benefits typically come with significant installation and maintenance costs, and the magnitude of the gains can vary widely. This article will help homeowners understand the viability of solar power in their homes.
According to energyhub.org, the average price of solar power in Canada is $3.07/Watt. But that’s not the whole cost. You also have to consider the amount of sunlight your area gets, whether or not your province offers solar incentives, and the size of the equipment you would need.
It all boils down to two questions; How much energy you use vs how much solar energy you can harness.
Start by calculating how much energy you use over one year in units of kWh. All you do is look at your hydro bills for the past year (you can usually access these online), and add up your monthly kWh usage for 12 consecutive months. Your number will likely fall somewhere between 7,500 and 15,000kWh. Next, you will need to figure out how much energy solar panels can produce in your area. Energy output is totally dependent on how many hours of full sunlight your province gets.
The annual average of full sunlight hours for Nova Scotia is 1,090 hours.
Once you know how much energy you can reasonably expect to harness over a year, you can calculate the size of solar panel equipment you would need. To do this, simply divide your yearly energy use (in kWh) by your annual average of full sunlight hours (in hours). You can then multiply this number by the cost per watt quoted by solar companies to get your final price.
Also, in order to assess whether installing solar panels is worth the upfront cost of installation, you need to look at how long it will take to pay off the system.
If you can pay off the system with your energy savings in around 10-15 years, then it’s worth getting on board. Remember, solar panels last about 25 years and have almost no maintenance except for clearing off the snow.
The National Energy Board recently completed a study on the financial viability of typical solar power projects in over 20, 000 Canadian communities across every province and territory. The study estimated the amount and cost of electricity produced by solar panels and compared the costs to local electricity prices.
Findings show that installing solar panels only makes financial sense in areas where electricity rates are high. This means, that the break-even prices for solar panels are less than electricity prices in Saskatchewan (where electricity costs are among the highest in Canada), Prince Edward Island and most places in Ontario.
In these areas, most homeowners would save money by installing solar. Rebates in Nova Scotia bring down the installation cost of solar panels, making it a smart move in that province. The SolarHomes program helps Nova Scotians harness the sun’s energy by offering a rebate on approved solar panel & heating systems.
According to Efficiency Nova Scotia, Canada’s first energy efficiency utility, Solar Photovoltaic (PV) systems can help you reduce your energy bills on average $1,750 per year. That’s some savings!
Thanks for reading!
Brian McKay
(aka The Solar Guy)
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Debunking Myths About Solar Panel's Performance in Inclement Weather
When it comes to generating clean, sustainable energy, the versatility of solar panels is often underestimated. The common misconception is that solar panels only thrive in ideal, sunny conditions. However, the truth is that they exhibit remarkable resilience, enduring through sun, snow, or sleet. In this article, we'll explore the steadfast nature of solar panels in various weather conditions and highlight the substantial benefits they bring, including significant savings on monthly electricity bills and a positive environmental impact.
Winter in Nova Scotia often brings to mind visions of snow-covered landscapes and cozy evenings by the fire. While the season may be chilly, it's also an opportune time to explore the incredible benefits of harnessing solar power. Contrary to common misconceptions, solar panels don't hibernate during the winter months. In fact, they continue to generate clean, sustainable energy, offering homeowners and business owners a unique chance to turn snowflakes into savings.
For more information about a Solar Energy Solution, including Whole Home Solar PV and Solar Pool Heating solutions for your home or business, please contact AZTEK SOLAR for your free on-site evaluation and ask about the $3,000 cash-back rebate now available.
AZTEK SOLAR is a leading Nova Scotia residential and commercial solar installer, serving Halifax, Dartmouth and the surrounding areas throughout rural Nova Scotia.
With expertise in a wide variety of systems, including Solar PV (grid-tied) systems, solar hot water and solar pool heating systems, AZTEK SOLAR has helped hundreds of Atlantic Canadian homeowners, farm operations, business owners and municipalities lower their energy bills while reducing their carbon footprint.
#SolarIsNow #RenewableEnergy #AztekSolar
Harnessing the Sun : How does the Solstice Effect your Solar Production?
Debunking Myths About Solar Panel's Performance in Inclement Weather
When it comes to generating clean, sustainable energy, the versatility of solar panels is often underestimated. The common misconception is that solar panels only thrive in ideal, sunny conditions. However, the truth is that they exhibit remarkable resilience, enduring through sun, snow, or sleet. In this article, we'll explore the steadfast nature of solar panels in various weather conditions and highlight the substantial benefits they bring, including significant savings on monthly electricity bills and a positive environmental impact.