Solar Panel Cost Guide in Florence, OR (2024 Update)
- Florence Solar Installation Cost: $9,753
- 25-Year Savings: $15,050
- Payback Period: 10.9 Years
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Average Cost of Solar Panels in Florence
Find out what the average cost of a solar system is in Florence.
The average cost of a solar panel system in Florence is 4 per watt.The average solar panel system size in Florence is around 4.0 kilowatts, meaning a cost of about $9,753 for a solar installation, or $13,947 before the 0 federal solar tax credit is applied.
These figures are just estimates, and your own solar costs will most likely vary based on the amount of energy your home requires and what company you choose to go with.But, after you've paid the upfront cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $23,000 over 20 years on energy bills.
Click the button below to get connected to a top solar panel company in your area for a custom estimate.
Solar savings over time in Florence
| Year | Return on Investment |
|---|---|
| 1 years | $-8,635 |
| 3 years | $-6,399 |
| 5 years | $-4,163 |
| 7 years | $-1,927 |
| 9 years | $309 |
| 11 years | $2,545 |
| 13 years | $4,781 |
| 15 years | $7,017 |
| 17 years | $9,253 |
| 19 years | $11,489 |
| 21 years | $13,725 |
| 23 years | $15,961 |
| 25 years | $18,197 |
Top Solar Installers in Florence
Installing solar panels by yourself can be a stressful project, which is why hiring a solar installer is a good option for many homeowners. Also, companies with a high reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you’d like to start using solar energy but still aren’t certain which solar panel company to go with, here are our suggestions for providers in Florence:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Florence
Factors that Affect Solar Panel Costs in Florence
Though the average cost of a solar system in Florence is $9,753, your actual cost may be higher or lower than that. There are quite a few 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 take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar system in Florence, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can determine by looking at past energy bills. Your total cost can increase by about $3,500 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you pick also affects the cost. Usually, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you want to install 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
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Florence, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of loans, including the amount of 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 more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you select will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor.The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to 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 promotion can bring their pricing lower to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.64 | $15,288 | $18,574 | 11.3 years |
| 8 kW | $3.57 | $19,992 | $25,157 | 11.1 years |
| 10 kW | $3.50 | $24,500 | $31,936 | 10.9 years |
| 12 kW | $3.43 | $28,812 | $38,912 | 10.6 years |
| 14 kW | $3.36 | $32,928 | $46,083 | 10.4 years |
| 16 kW | $3.29 | $36,848 | $53,450 | 10.2 years |
| 18 kW | $3.22 | $40,572 | $61,013 | 10.0 years |
| 20 kW | $3.15 | $44,100 | $68,773 | 9.8 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 brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: If you’re concerned about the durability of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Florence, OR Solar Cost FAQs
What is the average cost of installing solar panels in Florence?
The average cost of solar panels in Florence is about $17,500 for a 5-kW system and $35,000 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Florence?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Can solar panels completely eradicate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,128.73 per year.
How long do solar panels last in Florence?
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.