Are Solar Panels Worth It In Oregon?
Oregon is a great place for solar energy. The state’s Solar Incentive Program and Solar Tax Credit make solar panel systems more affordable, and the state has plenty of sun exposure. If you’re thinking about going solar, Oregon is definitely a good place to do it.
The Solar Incentive Program offers a rebate of up to $500 for solar panel systems while the Solar Tax Credit allows deduction of up to $2000 from your federal taxes making it easier for people in Oregon to afford Solar Panel Systems. Another reason why Oregon is a good place for Solar Energy is because the state has plenty of sun exposure. People who are thinking about Going Solar should highly consider doing so in Oregon.
How to Figure Out if Solar Panels are Worth It in Oregon
Solar panels are a great way to save on your electricity bill, but they’re not right for everyone. The best way to figure out if solar panels are worth it in Oregon is to look at your electricity bill and see how much you’re paying per month. Then, compare that to the cost of installing solar panels. Solar panel systems typically range in price from $15,000-$30,000. If you’re paying more than $100 per month on your electricity bill, then solar panels could be a good investment for you.
Solar Panel Maintenance:
Solar panels require very little maintenance. You’ll need to clean them about once a year, but other than that they should last for 20-25 years with no problems.
Solar panels are a great way to save money on your electricity bill, and they’re good for the environment too. If you’re thinking about going solar, Oregon is definitely a good place to do it. With the state’s Solar Incentive Program and Solar Tax Credit, solar panel systems are more affordable than ever.
How Much Is It To Go Solar in Oregon?
Solar panel systems typically range in price from $15,000-$30,000. However, with the Solar Incentive Program and Solar Tax Credit, you can get up to $500 back on your solar panel system. This makes going solar a more affordable option for Oregonians. Then, you can also get a Federal tax credit of around 23%. This means that 23% of the cost of solar is cover by the FED either in reduction of initial cost, or as a Tax credit.
If you’re thinking about going solar, Oregon is a great place to do it. With the state’s Solar Incentive Program and Solar Tax Credit, you can save money on your solar panel system. Companies like Smart Solar Energy (https://www.smartsolarenergyco.com) offer incredible service and even up to a 25 year warranty on all work.
What’s the Payback Period for Solar in Oregon?
Solar panel systems typically have a payback period of around five to eight years. This means that it will take five to eight years for you to recoup the cost of your solar panel system through savings on your electricity bill. After the payback period, you’ll be saving money every month on your electricity bill.
If you’re looking for a way to save money on your electricity bill, solar panels are a great option. With a payback period of just five to eight years, solar panels are a wise investment for Oregonians.
How Much Are Buy-Back Rates in Oregon?
One of the great things about solar energy is that you can sell the excess electricity that your solar panel system produces back to the utility company. In Oregon, the average buy-back rate is $0.15 per kilowatt-hour (kWh). This means for every kWh of electricity that your solar panel system produces, you’ll get a credit of $0.15 on your utility bill.
How Much Sun Does Your Roof Receive?
Solar panels need direct sunlight to work effectively. If your roof doesn’t get a lot of sun, then solar panels may not be the right option for you. You can use this website: https://sunroof.withgoogle.com/ to check the average amount of sunlight that your roof gets each day.
Benefits of Solar Energy in Oregon
Lets take a look at some of the benefits of going solar here in Oregon.
Electricity Bill Savings
Solar panels can save you money on your electricity bill. The average Oregonian household pays about $100 per month on their electricity bill. With solar panels, you can save an average of 20% on your monthly electricity bill. This means that you could save $20 per month, or $240 per year, by going solar.
Lower Taxes & Access to Other Incentives
Solar panels can also help you save money on your taxes. The Solar Incentive Program offers a tax credit of up to $500 for solar panel systems. You may also be eligible for the Solar Tax Credit, which is a federal tax credit that covers 26% of the cost of your solar panel system.
Reduce Your Carbon Footprint
Home Resale Value Increase
Solar panels can also increase the resale value of your home. A study by the Lawrence Berkeley National Laboratory found that homes with solar panel systems sell for an average of $15,000 more than homes without solar panel systems.
Clean, Renewable Energy
Solar energy is a clean, renewable source of energy. Solar panels don’t produce any emissions, so they’re friendly for the environment.
What to Look Out For When Considering Solar in Oregon
Let’s look at some of the pitfalls to avoid when considering going solar.
Upfront Fees
Some solar panel companies will try to charge you upfront fees. These fees can range from $500 to $2000, and they’re often hidden in the fine print. Make sure to read the contract carefully before signing anything so that you don’t get hit with any hidden fees.
Long-Term Contracts
Solar panel companies will often try to lock you into a long-term contract. These contracts can last for 20 years or more, and they usually have a clause that allows the company to increase the price of your monthly payments if the cost of solar panels goes up. Be sure to read the contract carefully before signing anything so that you know what you’re getting into.
Payback Period
Solar panel systems can have a payback period of five to eight years. This means that it will take five to eight years for you to recoup the cost of your solar panel system through savings on your electricity bill. After the payback period, you’ll be saving money every month on your electricity bill.
Net Metering Policies in Oregon
Solar panels work best when you have a net metering policy in place. Net metering is a billing arrangement where you can sell the excess electricity that your solar panel system produces back to the utility company. In Oregon, the average buy-back rate is $0.15 per kilowatt-hour (kWh). This means that for every kWh of electricity that your solar panel system produces, you’ll get a credit of $0.15 on your utility bill.
Companies Pushing Solar Leases or PPAs
Solar leases and power purchase agreements (PPAs) are financing arrangements where you don’t own the solar panel system. Instead, you make monthly payments to a solar company for the electricity that your solar panel system produces. These arrangements often have high interest rates and long-term contracts, so they’re not a good deal for most people.
Conclusion
So, are solar panels worth it in Oregon? The answer is yes! If you’re looking for ways to save money on your energy bill, solar panels are a great option. With the state incentives, you can offset the cost of the system and start saving money right away. Give us a call today and we’ll help you get started with your new solar panel system!
