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Levelized cost: With increasingly widespread implementation of renewable energy sources, costs have declined, most notably for energy generated by solar panels. [3][4] Levelized cost of
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For a typical 5 kW residential system, with panels costing between $2.50 to $3.50 per watt ($12,500 to $17,500) and installation costs ranging from $1,000 to $1,500 per kW ($5,000 to $7,500), the homeowner is looking at a price range of $17,500 to $25,000. Similarly, the total price for a 10 kW system falls between $35,000 and $50,000.
Prince Edward Island – Solar panels in PEI cost around $2.60 to $3.27 per watt, with incentives and community-based energy initiatives supporting the shift to renewables.
Solar panels and components are not exempt from provincial and federal taxes and subsequently add to the overall cost of the components. However, for those registered with a GST/HST number, you may be eligible to claim an Input Tax Credit (ITC) for the GST/HST paid on the purchase and installation of a solar panel system.
