Solar Panel Cost Guide in Portland, MI (2023 Update)
- Portland Solar Installation Cost: $17,521
- 25-Year Savings: $21,562
- Payback Period: 13.0 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Portland
Let's take a look at the average cost of solar panels in Portland.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Portland, the average cost of a solar system is 2.81 per watt.To account for the typical energy needs of the average home in Portland, most homeowners require a 6.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,136, or $17,354 before the federal solar tax credit of 30% is applied.
The actual price you pay can be higher or lower than the average in Portland based on several factors, such as the brand of solar panels you choose and the solar company you hire.With typical savings of about $21,000 on energy bills over 20 years, many homeowners in Portland find investing in solar can pay off big.
Click the button below to get connected to a top solar panel company in Portland for a custom quote.
Solar savings over time in Portland
| Year | Return on Investment |
|---|---|
| 1 years | $-16,267 |
| 3 years | $-13,760 |
| 5 years | $-11,252 |
| 7 years | $-8,745 |
| 9 years | $-6,238 |
| 11 years | $-3,730 |
| 13 years | $-1,223 |
| 15 years | $1,284 |
| 17 years | $3,792 |
| 19 years | $6,299 |
| 21 years | $8,807 |
| 23 years | $11,314 |
| 25 years | $13,821 |
Top Solar Installers in Portland
Installing solar panels on your own can be a stressful undertaking, which is why getting a solar installation company is a good option for many homeowners. Solar installers offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:
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 Portland
Factors that Affect Solar Panel Costs in Portland
For many Portland homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Portland, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production 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 $2,810.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Portland, where sunlight isn't as abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are an affordable choice because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you hire 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 different amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $4.22 | $17,734 | $15,052 | 13.5 years |
| 8 kW | $4.14 | $23,191 | $20,525 | 13.3 years |
| 10 kW | $4.06 | $28,420 | $26,224 | 13.0 years |
| 12 kW | $3.98 | $33,422 | $32,151 | 12.7 years |
| 14 kW | $3.90 | $38,196 | $38,306 | 12.5 years |
| 16 kW | $3.82 | $42,744 | $44,687 | 12.2 years |
| 18 kW | $3.74 | $47,064 | $51,296 | 12.0 years |
| 20 kW | $3.65 | $51,156 | $58,133 | 11.7 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: When going solar, it's important to maintain an open line of communication with your solar installer. Make sure you understand how the installation process will go and the completion timeline.
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 Portland, MI Solar Cost FAQs
How much does it cost to install solar panels in Portland?
The average cost of solar panels in Portland 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 things like the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside 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.
Do solar panels increase your home value?
Solar panels can increase your property's value significantly as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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 install 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.