Cost of Solar Panels

The cost of installing rooftop solar panels in your home may be the most intimidating factor of switching to solar renewable energy. After all, your current energy works fine, and there’s nothing to pay for minus your monthly utility bills. But if you calculate the real cost of solar panels when taking into consideration how much they will be saving you, the numbers aren’t as intimidating as you might think.

Upfront Costs of Solar Panels

Enova Energy has no “set” price for solar panels because the cost depends on factors that are determined by the size and layout of your home and your energy needs. A well-positioned roof with access to long hours of sunlight in a two-person home will likely cost significantly less than a 3,000-sqft family home with a complicated roof structure. Typically, a solar photovoltaic system in Alberta can cost anywhere between $10,000 and $20,000.

Long-Term Affordability

Fifteen years ago, the high cost and inefficient technology made the dream of switching to solar energy almost impossible. Today, the cost of solar panels are 80% less than they were 10 years ago and 80% more efficient. Thanks to provincial rebates, it’s possible to pay off your solar modules in four to seven years.

The province’s cheapest resource, coal, is slowing being phased out as part of the province’s commitment to lower its GHG emissions and be a world leader in sustainability. Meanwhile, a heavy carbon tax will be levied on Albertans in order to encourage reduced emissions. Considering these added monthly costs and solar energy’s potential to actually eliminate your monthly bill, you’ll start noticing savings right away.

Provincial Rebates Reduce Costs Even Further

The Government of Alberta is going to great lengths to make solar energy a viable option for people in various income brackets. In order to attract more citizens to switch to solar energy, Alberta is introducing a $36-million rebate program to reduce the upfront costs of solar technology.