According to the SEIA, the cost of solar panels in Oregon has declined by 11% in the last five years. That means you’re running out of excuses to embrace renewable energy if you live in this state.
Sustainable energy sources like solar panels are vital for bringing down carbon emissions and slowing global warming. So, while the initial costs might seem prohibitive to some owners, rather find out more about solar power before you decide against it.
Here’s what you need to know about Oregon solar power.
Cost of Solar Panels in Oregon
You’ll pay between $2.17 and $2.93 per watt for your solar panel installation in Oregon. That amounts to between $10,838 and $14,662 for the average home.
It will take you just over 11 years to recoup the costs of your installation in Oregon. Most solar panels last around 20 years, so that means you’ll enjoy pure savings for half the panels’ lifespan.
The average cost per watt for solar panels in Oregon is a little higher than the national average, but you’ll still benefit thanks to several solar incentives.
Oregon Solar Power Incentives
The first major saving you’ll enjoy when you install solar power in Oregon is the Federal Income Tax incentive. This benefit allows you to deduct 26% of the cost of your solar panel installation from your tax during 2022.
In 2023, the tax credits decrease to 22% and then go down to 10% from 2024.
According to the Oregon Solar and Storage Rebate Program, solar installation contractors can get a rebate from the state for up to $5,000 on a residential solar system and pass this saving on to their customers.
If you install solar power in Salem or Portland and opt for net metering, you’ll receive a rebate from your energy company, too.
How Can You Save with Solar Power in Oregon
There are three ways to get your home powered by solar in Oregon. If you decide on an off-grid system, you’re completely independent of grid energy and you’ll never see an electricity bill again.
A power purchase agreement means you allow a third party to install solar panels on your roof and in return, they provide you with cheap electricity.
The final option, net metering, falls somewhere in between the two. When you install a solar energy system, your power company will install a new meter that allows you to feed any excess solar power you generate back into the grid.
You can also use grid electricity whenever you need to. In exchange for your solar power, the electricity provider passes a credit toward the electricity you’ve used from their grid.
All the above options mean you’re likely to pay a lot less for your electricity needs when you opt for a solar panel installation in Oregon.
You can get an idea of how much you can save by filling in your details on this website, https://blueravensolar.com/oregon/salem/.
Discover More Bright Ideas
Oregon solar power is the ultimate solution for high electricity bills and will help soothe your conscience too. We all need to work together to conserve our planet, and you can rest assured you’re doing your bit when you install solar panels.
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