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How much money will I save?

Q:

How much money will I save?

A:

Each system is unique and will require a significant number of calculations and computer simulations to estimate the energy savings provided by the solar system. The amount of money saved will also be a function of the type of fuel displaced, and the efficiency of the heating system used.

Keeping in mind the statement above, we would like to identify that the maximum amount of energy a square metre of solar collector can be expected to collect in a year in Southern Ontario, is worth about $20 of natural gas, or $ 70 worth of electricity. To determine the maximum amount a solar system heating system can displace in a year (for both hot water and space heating) multiply the number of square meters of collector area you have by the value of the fuel (above) that it is displacing. (Oct. 2016).

Normally solar systems are only designed to provide a moderate portion of the total load - reaching an annual contribution as high as 60 % - 70%. A combined system may provide 100% of an outdoor swimming pools heating, 75 % of the domestic hot water and 50% of the space heating load. This is only possible if the solar system is large, well integrated and designed and built as part of the home. Retrofiting a solar space heating system to an existing home is both much more difficult and more expensive.

Be aware (beware) that many solar contractors make up savings numbers to justify the high cost of these systems. Simulations can be rigged - the $ savings numbers above are accurate for Southern Ontario. If higher values are presented, be VERY suspicious.