Solar Panel Cost Guide in Salem, OR (2024 Update)
- Salem Solar Installation Cost: $10,345
- 25-Year Savings: $14,600
- Payback Period: 11.5 Years
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Average Cost of Solar Panels in Salem
We go over average solar pricing in Salem.
In Salem, solar panels cost about 4 per watt on average.Because a 4.2-kW system is needed to cover the energy costs of a typical home in Salem, the average price of going solar will be about $10,345 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of equipment you want, your solar contractor and more.With average savings of about $21,000 on utility bills over 20 years, many homeowners in Salem find installing solar panels can be quite rewarding.
Click the button below to get connected to a highly rated solar panel company in your area for a custom quote.
Solar savings over time in Salem
| Year | Return on Investment |
|---|---|
| 1 years | $-9,087 |
| 3 years | $-6,570 |
| 5 years | $-4,053 |
| 7 years | $-1,536 |
| 9 years | $981 |
| 11 years | $3,499 |
| 13 years | $6,016 |
| 15 years | $8,533 |
| 17 years | $11,050 |
| 19 years | $13,567 |
| 21 years | $16,084 |
| 23 years | $18,601 |
| 25 years | $21,118 |
Top Solar Installers in Salem
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar company can make swapping over to solar power much easier. In addition, if you’d like to maximize your investment in solar power, using a solar installer can help with that too. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives.
If you’d like to make the switch to solar but still aren’t sure which solar company to go with, here are our recommendations for providers near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Salem
Factors that Affect Solar Panel Costs in Salem
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in Salem: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $3,500 per kilowatt in Salem.The brand of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Salem homeowners opt to finance their solar panel systems to make paying for solar more affordable.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies in Salem, and each can charge different amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $3.64 | $15,288 | $16,635 | 12.0 years |
| 8 kW | $3.57 | $19,992 | $22,573 | 11.7 years |
| 10 kW | $3.50 | $24,500 | $28,706 | 11.5 years |
| 12 kW | $3.43 | $28,812 | $35,035 | 11.3 years |
| 14 kW | $3.36 | $32,928 | $41,560 | 11.1 years |
| 16 kW | $3.29 | $36,848 | $48,281 | 10.8 years |
| 18 kW | $3.22 | $40,572 | $55,198 | 10.6 years |
| 20 kW | $3.15 | $44,100 | $62,312 | 10.4 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose significantly influences your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Although 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.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Salem, OR Solar Cost FAQs
How much does it cost to install solar panels in Salem?
This is a hard 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Salem?
Leasing solar panels can be an attractive choice, because it commonly 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Can you sell solar power back to the grid in Salem?
The majority of states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Salem?
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 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.