Canadian Solar Panel Investment

Are Canadian solar panels a good investment?

A system that uses Canadian Solar panels is a good investment, in any state where solar panels make financial sense. If you’re ready to find an installer near you, start by using our free solar calculator to determine how much solar you’ll need for your specific home, and get cost and savings estimates.

What is Canadian Solar doing?

Canadian Solar is building a state-of-the-art solar photovoltaic module manufacturing plant with an annual output of 5 GW, equivalent to approximately 20,000 high-power modules per day. The new facility represents an investment of over $250 million and will create approximately 1,500 skilled jobs once it is fully ramped up.

Where do Canadian Solar energy investments come from?

The investments will come from existing resources, the government said. The Canadian Renewable Energy Association says there are currently more than 43,000 solar (PV) energy installations on residential, commercial, and industrial rooftops in the nation, providing power directly to those homes and businesses.

How much do residential solar panels cost in Canada?

On top of being great quality panels, Canadian’s residential solar panels come in at a great price too. Costing an average of $2.60 per watt, expect to spend about $15,600 for a typical 6 kW solar system using these panels. Keep in mind that this is just for the panels alone, no other additional costs.

Should you buy Canadian Solar?

Canadian Solar has reached an incredible scale, with solar module capacity of 27.9 gigawatts (GW) at the end of the second quarter and expectations to grow to 50 GW by the end of 2023. Shares trade for just 20 times trailing earnings, which looks cheap given the growth rate. But there are some reasons to avoid this stock.

Does Canada have solar panels?

With 15 million residential buildings and 500,000 commercial and industrial buildings, Canada has plenty of space to accommodate a great many solar panels. But the energy potential can vary: from the Maritimes to the Rockies to Nunavik, the hours of sunlight in some regions are nearly double.