Is Solar Worth It in Newfoundland and Labrador in 2026?
Not for most homeowners. At Newfoundland and Labrador's rates, a 23.1-year payback means you are betting on rate increases and equipment longevity to earn the money back.
Payback
23.1 yrs
25-Year ROI
8%
Rank in Canada
#10/13
Annual Savings
C$1,040
What drives the verdict in Newfoundland and Labrador
Your rate matters more than your sun. Newfoundland and Labrador averages C$0.138/kWh and 3 peak sun hours. Canada's cheapest electricity (Quebec) makes solar a lifestyle purchase, not an investment; high-rate provinces pay back fastest regardless of latitude.
Net metering sets your export value. Newfoundland Power / Hydro net metering credits exports at retail rate for systems under 100 kW.
No federal credit to lean on. Canada's Greener Homes program has wound down; the programs that remain are provincial and utility-level, listed on the Newfoundland and Labrador payback page.
System cost. About C$24,000 for a typical 8 kW system (C$3.00/W) before incentives. Sources: Newfoundland Power residential rates; NREL PVWatts irradiance as of 2026-07-01.
Fastest paybacks in Canada
| Province | Payback | 25-Year ROI |
|---|---|---|
| Nunavut | 12.4 yrs | 102% |
| Northwest Territories | 13.5 yrs | 86% |
| Alberta | 14.6 yrs | 71% |
| Nova Scotia | 15.9 yrs | 58% |
| Saskatchewan | 16.2 yrs | 55% |
| Prince Edward Island | 17.4 yrs | 44% |
Run your own numbers
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