Average OR Solar Installation Costs
Oregon, known for its vibrant green landscapes, also presents fantastic opportunities for harnessing solar power. This comprehensive guide explores the average installed cost of solar panels in Oregon, and we will discuss additional options that can influence these costs, such as adding a battery backup or an electric vehicle (EV) charger.
The Price Breakdown of Solar Panel Systems in Oregon
To comprehend the average cost of solar panels in Oregon, we need to examine the cost per watt. This factor varies depending on the size of your solar energy system. On average, Oregonians may expect to pay between $2.50 and $3.50 per watt. This means that the typical 5-kilowatt system can range from $12,500 to $17,500.
| System Size | Average Cost |
|---|---|
| 5kW | $12,500-$17,500 |
| 7kW | $17,500-$24,500 |
| 10kW | $25,000-$35,000 |
Prices can change based on the installation company you choose, as well as the specific equipment used. It is advisable to get several solar quotes from different providers to compare the best deal for you.
Incentives and Tax Credits
When it comes to the cost of solar panels, don’t forget to factor in the long-term savings from federal taxes and Oregon solar incentives. The federal government offers an Investment Tax Credit (ITC), a valuable incentive that can significantly reduce the installed cost of your solar panel system.
As of now, you can deduct 30% of the system cost from your federal income taxes. However, be sure to check for any changes as the ITC is scheduled to phase out in the coming years.
| Solar System Cost | Federal Tax Credit |
|---|---|
| $12,500 | $3,250 |
| $17,500 | $4,550 |
| $25,000 | $6,500 |
On top of the ITC, Oregon provides additional incentives that make going solar in Oregon even more appealing. The Energy Trust of Oregon, for instance, offers a cash incentive depending on the size of your system.
Additional Costs: Battery Backup and EV Charger
When evaluating solar panel installation costs, it’s worthwhile to consider adding a battery backup or an EV charger. A battery backup allows you to store excess solar power for use when your panels aren’t producing energy, like at night or during outages. The average battery system can range between $5,000 to $7,500, depending on the model and capacity.
| Battery Type | Average Cost |
|---|---|
| Tesla Powerwall 2 | $6,000-$7,000 |
| LG Chem Resu | $6,000-$7,500 |
| Sonnen eco | $9,500-$11,000 |
If you own an electric vehicle, installing an EV charger at home can be another great addition to your solar panel system. The cost for a Level 2 charger typically ranges between $500 and $700, excluding installation charges.
| Charger Type | Average Cost |
|---|---|
| ChargePoint Home Flex | $600-$700 |
| Tesla Wall Connector | $500-$600 |
Key Takeaways
Oregon’s abundant sunshine and commitment to sustainability make it an excellent place for solar power. Here’s what you need to remember:
- Solar Installation Costs: The average cost of solar panels in Oregon ranges from $2.50 to $3.50 per watt, putting the price of a 5kW system between $12,500 and $17,500. Remember, these costs can vary depending on the installation company and equipment.
- Federal and State Incentives: Take advantage of the Investment Tax Credit (ITC) which allows you to deduct 30% of your system cost from your federal taxes. Additionally, Oregon offers extra incentives like the Energy Trust of Oregon’s cash incentives as well as the Solar Within Reach program for low-income households.
- Additional Costs: If you’re considering adding a battery backup or an EV charger to your solar system, remember to account for these costs. A battery backup can range from $5,000 to $7,500 while a Level 2 EV charger typically costs between $500 and $700.
- Long-term Savings: While the upfront costs might seem high, the long-term savings on your electric bill and the positive environmental impact make solar panels a worthy investment. An average-sized system in Oregon can save homeowners around $1,000 per year.
- Finding a Reliable Solar Company: Be sure to do your research when choosing an Oregon solar company. Get solar quotes from several providers, read online reviews, and ask for customer references to find a reputable company.
Remember, while the costs associated with solar panel installation can be substantial, the long-term benefits for your wallet and the environment are even greater. Consider all the elements before making your decision, and you’ll be well on your way to a brighter, greener future.
Frequently Asked Questions
As part of this guide, we have compiled a few frequently asked questions that potential solar panel users in Oregon often ask. These FAQs aim to provide more detailed insights into the cost and savings associated with solar panel installation.
How much can I save on my electric bill with solar panels in Oregon?
The amount you can save on your electric bill largely depends on the size of your solar panel system and your home’s electricity usage. Solar panels can significantly reduce or even fully offset your electricity bill. In Oregon, an average-sized solar system can save homeowners around $1,000 per year.
How long does it take for solar panels to pay for themselves?
This timeframe, also known as the solar panel system’s payback period, varies based on multiple factors including system cost, available incentives, and energy cost savings. On average, homeowners in Oregon can expect a return on their solar investment in 7 to 10 years. Remember, solar panels can last for 25+ years, offering significant long-term savings.
How do I find a reliable solar company in Oregon?
When searching for a reputable solar company in Oregon, consider obtaining solar quotes from multiple providers. This process allows you to compare pricing and offerings. Additionally, read online reviews to get a sense of customer satisfaction, and ask companies for references from previous customers. These steps will help ensure you find a reliable solar installation company.
Are there any additional costs to consider?
Beyond the cost of the solar panels and installation, additional expenses can include routine maintenance and potential roof repairs. If you choose to enhance your solar panel system with a battery backup or an EV charger, these will incur extra costs. It’s crucial to factor all these elements into your overall budget when considering a transition to solar energy.
