Solar Panel Cost Guide in Oregon, MI (2023 Update)
- Oregon Solar Installation Cost: $12,204
- 25-Year Savings: $15,462
- Payback Period: 11.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Oregon
Find out what the average cost of a solar system is in Oregon.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Oregon, the average cost of solar panels is 2.81 per watt. Because a 6.2-kW system is needed to cover the energy consumption of a typical home in Oregon, the average price of going solar will be about $12,195 after claiming the federal solar tax credit of 30%.
These figures are just estimates, and your own solar costs will vary based on your energy needs and what company you want to go with. For most homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Oregon see about $17,000 in savings on energy bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Oregon
| Year | Return on Investment |
|---|---|
| 1 years | $-12,111 |
| 3 years | $-11,927 |
| 5 years | $-11,742 |
| 7 years | $-11,558 |
| 9 years | $-11,374 |
| 11 years | $-11,189 |
| 13 years | $-11,005 |
| 15 years | $-10,820 |
| 17 years | $-10,636 |
| 19 years | $-10,451 |
| 21 years | $-10,267 |
| 23 years | $-10,083 |
| 25 years | $-9,898 |
Top Solar Installers in Oregon
Many homeowners choose to use a solar installation company since figuring out how to install solar panels yourself can be hard. Plus, if you're not certain what brand of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
See all of the solar companies in Oregon
Factors that Affect Solar Panel Costs in Oregon
While the average cost of a solar system in Oregon is $12,195, your final cost may differ. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar panel system in Oregon, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can gauge by looking at past electricity bills. Your overall cost can increase by around $2,810 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you choose also changes the cost. In many cases, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a popular option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the growing popularity of sustainable energy solutions in Oregon, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Oregon know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.92 | $12,274 | $14,481 | 11.5 years |
| 8 kW | $2.87 | $16,051 | $19,623 | 11.2 years |
| 10 kW | $2.81 | $19,670 | $24,922 | 11.0 years |
| 12 kW | $2.75 | $23,132 | $30,379 | 10.8 years |
| 14 kW | $2.70 | $26,436 | $35,993 | 10.6 years |
| 16 kW | $2.64 | $29,584 | $41,764 | 10.4 years |
| 18 kW | $2.59 | $32,574 | $47,692 | 10.1 years |
| 20 kW | $2.53 | $35,406 | $53,778 | 9.9 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 decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Contract: Even though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely provide high-quality solar panel installation and expertise.
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
EcoWatch's Oregon, MI Solar Cost FAQs
How much does it cost to install solar panels in Oregon?
The average cost of solar panels in Oregon is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Oregon is currently $147,707, which means you can look forward to a value of about $6,056 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Oregon is a rewarding investment.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.