Hey everyone! I'm trying to figure out if investing in solar power is actually worthwhile here in Manitoba, where electricity is pretty cheap. I've been doing some math and looking at the costs of a grid tie inverter and solar panels on Amazon, which would set me back about $300 at a minimum. I've also run some numbers using ChatGPT to compare my electric bills from last year to what I might save with a solar setup, estimating that I'd only see about a 40% output on average due to our long winter days. Unfortunately, the return on investment looks around 28 years, which feels really steep. Does anyone know of any Canadian solar systems or refurbished options that could help cut down the initial costs?
4 Answers
Check your entire electric usage for the year and see which devices are drawing the most power. Don’t forget about your heating source, whether it’s wood, propane, or oil; sometimes alternatives like heat pumps are better bets if your power is already cheap.
I've been crunching numbers too! It's crucial to know how much you currently pay per kilowatt-hour (kWh) and the cost per watt for the solar system you’re considering. In my case, I pay about 9 cents per kWh and $1.10 per watt for the system. That gives me a payback time of around 10 years.
Honestly, in a place like Manitoba with cheap electricity, solar isn't really a money-saver unless you're paying a lot more per kWh elsewhere. Most people go for solar to prepare for emergencies or to be less dependent on the grid, especially with battery systems. Still, even battery costs are going up, so it's not as clear-cut as it used to be.
Do you have net metering in Manitoba? If you can accumulate credits when your solar production is high, you can use those during low production times, which could significantly improve your savings. My production is low in the winter, but during the summer, I can build up enough credits to cover my whole year’s bills!