Solar Panel Cost Guide in Oak Grove, OR (2024 Update)
- Oak Grove Solar Installation Cost: $10,076
- 25-Year Savings: $25,038
- Payback Period: 11.2 Years
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Average Cost of Solar Panels in Oak Grove
See how much it might cost to switch to solar power in Oak Grove.
In Oak Grove, solar panels cost about 4 per watt on average.The average solar panel system size in Oak Grove is around 4.1 kilowatts, meaning a cost of about $10,076 for a solar installation, or $14,409 before the 0 federal solar tax credit is applied.
The actual price you pay can go above or below the average in Oak Grove based on a few factors, such as the type of solar panels you choose and the solar company you hire.But, once you've paid the upfront cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $22,000 over 20 years on power bills.
Click the button below to get connected to a top solar panel company in Oak Grove for a custom estimate.
Solar savings over time in Oak Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-8,671 |
| 3 years | $-5,862 |
| 5 years | $-3,053 |
| 7 years | $-244 |
| 9 years | $2,565 |
| 11 years | $5,374 |
| 13 years | $8,183 |
| 15 years | $10,992 |
| 17 years | $13,802 |
| 19 years | $16,611 |
| 21 years | $19,420 |
| 23 years | $22,229 |
| 25 years | $25,038 |
Top Solar Installers in Oak Grove
When making the switch to solar, many homeowners choose to go with a solar installer since putting up solar panels yourself can be a difficult project. Another great thing about using a reputable solar installer is that it'll likely provide warranties and free repairs, which help protect your investment.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Oak Grove
Factors that Affect Solar Panel Costs in Oak Grove
The cost of installing a solar system in Oak Grove can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of solar panels in Oak Grove, one of the most crucial 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 usage, which you can figure out by looking at past energy bills. Your total cost can increase by around $3,500 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Oak Grove, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of 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
Most solar companies in Oak Grove offer solar loans, which reduce the initial cost of installing solar.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you choose to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies in Oak Grove, and each can charge varying amounts for labor and equipment.Additionally, some companies in Oak Grove know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $3.64 | $15,288 | $17,490 | 11.7 years |
| 8 kW | $3.57 | $19,992 | $23,712 | 11.4 years |
| 10 kW | $3.50 | $24,500 | $30,130 | 11.2 years |
| 12 kW | $3.43 | $28,812 | $36,744 | 11.0 years |
| 14 kW | $3.36 | $32,928 | $43,554 | 10.8 years |
| 16 kW | $3.29 | $36,848 | $50,560 | 10.5 years |
| 18 kW | $3.22 | $40,572 | $57,762 | 10.3 years |
| 20 kW | $3.15 | $44,100 | $65,160 | 10.1 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before deciding.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
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 Oak Grove, OR Solar Cost FAQs
What is the average cost of installing solar panels in Oak Grove?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $17,500 for a 5-kW system and $35,000 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra 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 want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Oak Grove?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The downside 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.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Oak Grove is currently $642,132, so you could be looking at a value of about $26,327 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Oak Grove is a worthwhile investment.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.