The purpose of this article is to determine the tilt angle and azimuth for a photovoltaic panel in Ontario (Canada) at which revenue is maximised. Measured and modelled solar radiation data, simulated photovoltaic panel performance, hourly electricity market data and details regarding pricing regimes from 2003 to 2008 are used to study two different locations. In all instances, the desired tilt angle is slightly less than latitude (depending upon the particular pricing regime, between 36 degrees and 38 degrees for Ottawa, which is at a latitude of 45 degrees N, and between 32 degrees and 35 degrees for Toronto, which is at a latitude of 44 degrees N), and the desired azimuth is close to due south (depending upon the particular pricing regime, between 4 degrees west of due south and 6 degrees east of due south for Ottawa, and between 1 degrees west of due south and 2 degrees east of due south for Toronto). In conclusion, the importance of solar electricity - particularly valuable because of when it is produced and where it can be produced - is highlighted, as are future priorities for research. (C) 2010 Elsevier Ltd. All rights reserved.