Solar Panel Cost Guide in Portland, CT (2023 Update)
- Portland Solar Installation Cost: $8,898
- 25-Year Savings: $18,121
- Payback Period: 8.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Portland
Find out how much it might cost to install solar panels in Portland.
The average cost of solar panels in Portland is 2.8 per watt. Using this figure, a typical 4.5-kW system would cost about $8,898 before the 30% federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you will most likely vary based on factors unique to your home and what company you want to go with. With average savings of about $23,000 on electricity bills over 20 years, many homeowners in Portland find investing in solar has a decent ROI.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Portland
| Year | Return on Investment |
|---|---|
| 1 years | $-7,818 |
| 3 years | $-5,656 |
| 5 years | $-3,494 |
| 7 years | $-1,333 |
| 9 years | $829 |
| 11 years | $2,990 |
| 13 years | $5,152 |
| 15 years | $7,313 |
| 17 years | $9,475 |
| 19 years | $11,636 |
| 21 years | $13,798 |
| 23 years | $15,960 |
| 25 years | $18,121 |
Top Solar Installers in Portland
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Taking advantage of a solar panel installer can make your swap to solar power much easier. Companies can also have access to a large variety of the best solar panels and help you pick which one will be best for your family.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Portland
Factors that Affect Solar Panel Costs in Portland
There are a number of criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the price of solar panels in Portland, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can determine by looking at past energy bills. Your overall cost can increase by around $2,800 for each additional kilowatt you need. The kind of solar panels and equipment you get is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Portland to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to paying more over time because of interest. However, the interest on solar loans also increases your all-in costs, so it's crucial to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you choose to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar panel companies operating in Portland, and each can charge varying amounts for labor and equipment. The size of the company can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.91 | $12,230 | $23,511 | 8.6 years |
| 8 kW | $2.86 | $15,994 | $31,661 | 8.4 years |
| 10 kW | $2.80 | $19,600 | $39,968 | 8.2 years |
| 12 kW | $2.74 | $23,050 | $48,432 | 8.1 years |
| 14 kW | $2.69 | $26,342 | $57,053 | 7.9 years |
| 16 kW | $2.63 | $29,478 | $65,831 | 7.7 years |
| 18 kW | $2.58 | $32,458 | $74,765 | 7.6 years |
| 20 kW | $2.52 | $35,280 | $83,856 | 7.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
- Contract: When looking over your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Portland, CT Solar Cost FAQs
How much does it cost to install solar panels in Portland?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $14,000 for a 5-kW system and $28,000 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Portland?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is switching to solar power worth it?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.