When you’re shopping for solar panels in Calgary, it’s important to understand how much they will cost. You should also consider the return on investment and the potential for recycling the panels after use. There are many benefits to installing solar panels on your home, including lower electricity bills and a decreased carbon footprint.
Cost of solar panels
Solar panels can be installed on a residential roof. The cost to install one panel costs about $250 to $6,000. The cost for the entire system can be as much as $7,200. The cost will depend on the number of panels needed and their wattage. Higher-wattage panels are more expensive than lower-wattage ones. You may also want to consider installing smaller panels to reduce the cost.
Another benefit of solar power is that it increases property values. Many home buyers are attracted to energy-saving features, and a solar power system can add up to a $20k increase to a property’s value. And because the system provides free energy from move-in, you can often recoup installation costs when selling your home.
For a typical Calgary home, installing a solar panel system can cost between $5500 and $7700. However, this can vary a lot based on how big the system is. In some cases, a government rebate may be available that reduces the payback period. The payback period will also depend on the cost of energy in your area.
In Alberta, the sun shines an average of 320 days a year, allowing you to generate energy from solar panels all year round. Depending on your system, you can expect to generate between 1000 and 1500 kWh per year.
Size of solar panels needed
To calculate how many solar panels you will need for your Calgary home, first figure out the size of your roof. The average Albertan residence consumes around 7,000 kWh of electricity per year, which means that you will need roughly 25 square meters of solar paneling. This would be equivalent to a five-by-five-meter square and is doable for the average home roof.
Then, divide that amount by the average number of days per year when the sun is the most intense. Then divide the result by the number of solar panels you will need. This should give you an estimate of how many watts your panels will produce. In addition, a good installer will position the panels so that they capture as much sunlight as possible.
The City of Calgary recently released a residential solar calculator, which can help you figure out the size of solar panels you will need for your Calgary home. The calculator will also show you the estimated cost of photovoltaics and the savings you’ll see on your electricity bills each month. The calculator also includes a map that shows you where the best places to purchase solar panels are, and where you can find resources for solar installation in Calgary.
Return on investment
One of the most important factors to consider before installing solar panels is how much you will save on electricity. This number is calculated by taking the net present value of the total cost of building the power-generating asset and dividing it by the total amount of electricity that the building will generate over its lifetime. This is a particularly important metric to consider in Alberta, where electricity costs are higher than in most other provinces. In Alberta, for example, the average cost of electricity is $0.166/kWh, higher than the national average of $0.138/kWh. This means that if you reduce your electricity usage by 25%, you will save $540 per year.
The average return on investment of solar panels in Calgary depends on a few different factors. The size of the solar panel system, the costs per watt, and the amount of sunshine each day play a vital role in calculating a return on investment. While these are all important factors, they may vary based on your particular circumstances.
Alberta is one of the best places in Canada to install solar panels. The cost of installation is usually the largest barrier to installation, but the province also offers PACE financing options to help lower the initial cost. Depending on the type of solar panel system you choose, you could expect to pay back your installation costs in a decade or less. In addition to saving you money, solar panels will make you feel more secure and independent of your electricity provider.