Solar Panel Cost Guide in Oregon-Nashua, IL (2023 Update)
- Oregon-Nashua Solar Installation Cost: $12,411
- 25-Year Savings: $10,200
- Payback Period: 13.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Oregon-Nashua
Find out what the average cost of solar panels are in Oregon-Nashua.
The national average cost of solar panels is $2.66 per watt, but in Oregon-Nashua it's 2.73 per watt. The average Oregon-Nashua homeowner needs a 6.5-kilowatt system, which would cost about $12,402 with the federal tax credit, or $17,735 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of making the switch to solar can vary depending on several factors, such as how many panels you need, your energy usage and what installation company you go with. Many homeowners find going solar is a solid investment. The average homeowner in Oregon-Nashua can save about $13,000 on their power bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Oregon-Nashua
| Year | Return on Investment |
|---|---|
| 1 years | $-11,255 |
| 3 years | $-8,943 |
| 5 years | $-6,631 |
| 7 years | $-4,318 |
| 9 years | $-2,006 |
| 11 years | $306 |
| 13 years | $2,619 |
| 15 years | $4,931 |
| 17 years | $7,244 |
| 19 years | $9,556 |
| 21 years | $11,868 |
| 23 years | $14,181 |
| 25 years | $16,493 |
Top Solar Installers in Oregon-Nashua
Although it's possible to install solar panels yourself, it takes extra time and know-how. That's one of the reasons most people choose to go with a solar panel installer. Plus, if you aren't sure what type of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Oregon-Nashua
Factors that Affect Solar Panel Costs in Oregon-Nashua
There are several factors that can play into your 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
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,730. There are a lot of different solar panel brands and the one you choose also changes the cost. Usually, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Oregon-Nashua homeowners decide to finance their solar panel systems to make paying for solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you pick will impact your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.84 | $11,925 | $8,964 | 14.3 years |
| 8 kW | $2.78 | $15,594 | $12,258 | 14.0 years |
| 10 kW | $2.73 | $19,110 | $15,705 | 13.7 years |
| 12 kW | $2.68 | $22,473 | $19,305 | 13.4 years |
| 14 kW | $2.62 | $25,684 | $23,057 | 13.2 years |
| 16 kW | $2.57 | $28,741 | $26,963 | 12.9 years |
| 18 kW | $2.51 | $31,646 | $31,021 | 12.6 years |
| 20 kW | $2.46 | $34,398 | $35,232 | 12.4 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: The type of solar panel you want plays a part in which installer you should opt for, since different companies have access to different panels.
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: When making the switch to solar power, it's essential to keep an open line of communication with your solar panel company. Make sure you understand how the installation process works and the project timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Oregon-Nashua, IL Solar Cost FAQs
What is the average cost of installing solar panels in Oregon-Nashua?
The average cost of solar panels in Oregon-Nashua is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Oregon-Nashua?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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 savings from going solar.
Is it worth going solar in Oregon-Nashua?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily 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 buy between 20 and 35 panels to cover 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.