Energy conservation has become a pressing priority in our quest for a sustainable future. While energy sources like coal, natural gas, wind, and biomass play a role, let’s shine a spotlight on solar energy—a game-changer in the world of renewable power.
Solar energy stands out as one of the most sustainable and eco-friendly options available today. Unlike fossil fuels, it is abundant, inexhaustible, and entirely free to harness. Solar panels transform sunlight into electricity, reducing dependency on conventional power grids and slashing energy costs over time.
What makes solar energy even more remarkable is its versatility—it can power a cozy home or fuel large-scale industrial operations with equal efficiency. By adopting solar solutions, we take a step closer to a greener planet while enjoying tangible financial benefits. The sun isn’t just a source of light—it’s a beacon of hope for a sustainable tomorrow.
The visual below illustrates energy generation by fuel type over the last five years. Among all sources, solar energy has consistently contributed the least to the overall electricity generation, despite being one of the most sustainable and renewable energy sources.
Data Source: Ontario.ca
Harnessing solar energy more effectively could provide a dual benefit: meeting residential energy needs and supporting commercial operations. Scaling up solar energy infrastructure would not only reduce reliance on non-renewable resources but also align with global sustainability goals.
The graph below shows the breakdown of the total commodity costs on a typical electricity bill in Ontario.
Total cost of commodity for electricity( Ontario) = Average Hourly Ontario Energy Price(HOEP) + Average Global Adjustment (GA)
Data Source: iso.ca
As the graph above shows, electricity costs include the average energy price plus a global adjustment (GA). The GA includes the cost of building new electricity infrastructure, regulated payments to electricity suppliers under contract, and funding for energy efficiency and conservation programs. These constitute the majority of the costs.
Because solar energy can be generated locally and applied at different local scales, such as households or factories, GA can be lower. This lower GA cost combined with the increasing cost-effectiveness of solar energy generation, provide an economic incentive for transitioning to solar energy. By prioritizing solar energy, we can minimize the reliance on costly infrastructure projects, lower overall electricity costs, and support environmentally friendly energy solutions.
City of Toronto – Home Energy Loan Program (HELP)
Through HELP, homeowners can get a low-interest loan of up to $125,000 to cover the cost of home energy improvements, including solar and energy storage. HELP allows you to repay the loan via instalments on your property tax bill and the loan can be paid off at any time without penalty. For more details, Visit Home Energy Loan Program in Toronto website.
EnergyHub
EnergyHub provides you with the cost estimate of installing solar panels based on your demand, calculating the annual energy usage for your home or Office.
So, let’s pretend you added up your power bills and determined that you use 10,000 kWh over the course of a year. Let’s also pretend that you live in Ontario which receives an annual average of 1,166 full sunlight hours per year. You would do the above calculation to determine that the size of the system you need is 8.58kW!
(10,000kWh / 1,166h = 8.58kW)
This number can then be multiplied by the estimated cost per watt quoted in the pricing table above to get your final cost!
(8,580 Watts * $2.42-$3.05/Watt = $20,761-$26,169)
This means that an average 8.58 kW system would cost between $20,761 and $26,169 in Ontario.
Cost Estimation, used with permission from www.energyhub.org
House Insulation in Ontario – Canada Greener Homes Initiative
The Canada Greener Homes Initiative provides grants for homeowners to increase their home insulation. Insulation in older buildings plays a crucial role in maintaining a comfortable indoor temperature by reducing heat loss during winter and blocking heat gain during summer. Proper insulation minimizes the need for heating and cooling systems, significantly lowering energy bills. By reducing energy consumption, insulation also decreases the demand for electricity, allowing for smaller solar panel installations to meet the building’s energy needs. This approach promotes sustainability, cuts energy costs, and reduces environmental impact by lowering reliance on non-renewable energy sources.
For more details about the grant and eligible retrofits, please visit Canada Greener Homes Grant on the Natural Resources Canada website.
“Generate your own electricity and save more than ever before.”
ABOUT THE AUTHOR
Ananthi Ramachandran is an IT professional, with a technical and financial background, who specializes in visualization of sales and profit achievement. She is currently volunteering on the development of a Toronto database of sustainability projects for the Toronto Biosphere Eco-City initiative.