What do solar panels cost?
From permits to installation, engineering, materials, and labor, adding solar panels to your home in Edmonton can cost between $9,000 to $17,000 on average. How much your solar energy system will cost depends on many factors, like how big your home is, how much your needs you’re looking to offset with solar (up to 100%), and the equipment you select.
Determining your needs
How much solar energy you want to generate is ultimately up to you. If your roof allows for enough solar panels to cover your whole home needs, then you can go up to 100% solar, but you can also choose a more affordable smaller system that powers your essentials, or serves as a back-up to protect your home in the event of grid issues like blackouts or occasional outages from storms. The best way to determine your needs is to speak with a solar panel expert who can explain the options for your home, discuss financing opportunities, and build a plan customized for you.
Are solar panels worth it in Edmonton?
Ranking second in the country for solar power energy systems, Alberta gets high scores for the amount of sunlight, available rebates, and affordable installation costs. The amount of sunlight or solar irradiance, available to turn into solar energy is second only to Saskatchewan. This availability only goes down the more south and east you go in the country. You can check out the economics of solar in our Alberta Solar Economics article.
Most solar power energy systems have a lifespan of up to 25 years, depending on the manufacturer. For most looking to finance their rooftop solar panel installation in Edmonton, that means typically you’ll have paid off your system in full after just a third of that time, leaving you with a clean, affordable and reliable energy system that can power your home at little to no cost.
Increase your property value with solar
Reducing your carbon footprint is just the beginning of the benefits you get by going solar. Adding rooftop solar to your home can actually increase the value of your home, especially with today’s energy-conscious buyers. Buyers today are sophisticated when it comes to considering alternative energy sources, and having a solar power energy system already installed and working to power a home is a big plus to many buyers.
Reduce or eliminate your energy bill
If you plan to be in your home for the long haul, rooftop solar could help you reduce your monthly expenses even before it’s paid off. The cost of traditional energy is rising every year, but your monthly payments towards your solar energy system will remain the same throughout. For every year you stay in your home, you get closer to paying off your solar energy system, and when that’s complete, the energy your home generates is yours to keep.
Edmonton solar Rebates.
Lower the cost of solar panels
There is currently a tax incentive program for residents of Edmonton that you can take advantage of to help you save up to $4,000 on the cost of installing solar panels in Edmonton. The Change Homes for Climate Solar Program for the City of Edmonton Residents can offer you a rebate of $0.15/Watt up to a maximum of $4,000.
There are also special rebates and programs for adding solar to your farm, and for indigenous peoples. Keep your eye out for more rebates and incentives to get the most out of your solar energy system. They can change year-to-year and could help significantly reduce your costs. For more solar incentive info, visit our Edmonton solar incentives page.
How can you pay for solar panels?
There are many options out there to help you take the next step and go solar for your home.
If you’re able, paying upfront for all materials, permits, labor, and installation costs will lead you to the fastest path to lowering your energy bill.
Affordable solar financing programs with low-interest rates can deliver you a monthly payment that in many cases is still well below your current monthly electric bill.
Home Equity Line of Credit (HELOC)
Solar panels are considered an improvement to your home and can be an investment that boosts your home’s property value. Many banks offer HELOC loans to help with the costs of installing rooftop solar energy systems.