Oregon is not necessarily the first place you’d expect to find highly efficient solar energy infrastructure, but the state continues to rate among the best places in the country to install these new technologies. The recent announcement of further high-value state incentives (geared especially to attract lower/middle income residents) continues the state’s commitment to renewable energy and is fantastic news for those yet to make the changeover.
Investing in solar energy is one of those decisions where it is important to have all the latest data at hand. Let’s take a look at some of the numbers relating to solar energy in Oregon and what they mean.
Payback & System Lifetime
One of the most appealing aspects of solar energy is that not only will your home/business become more environmentally sound, but you’ll also be looking at substantial savings on your grid energy needs over the lifetime of your system. All good Oregon solar companies will be happy to help make approximate forecasts for individual installations, but the averages we currently have at hand suggest that going solar is simply an outstanding investment here.
* On average solar projects will pay for themselves within 11 years and 5 months.
* Savings compared to grid energy work out at $41,325 over the panel’s lifetime.
* A 12.18kw system will – on average – cover 100% of residential energy requirements.
* Solar installations add approximately $15,000 to residential property valuations.
It is important to also understand that the latest solar panels are expected to work without fault for at least 25 years (and are usually guaranteed to this age). They are far more durable, robust, and energy-efficient compared to those released 10-20 years ago, and there’s no reason why they shouldn’t last far longer with adequate care. We would suggest considering those average figures towards the lower, more conservative end of what kind of savings you can expect from the average installation.
Excellent Net Metering Laws & State Policy
The best Oregon solar energy companies will be happy to provide assistance with effective net metering, rebate management, and battery storage systems. It is important to establish whether you will be better off paying back excess power into the grid (for a legally set rebate on future bills) or if more expensive battery systems are a superior long term investment. There is no ‘one size fits all’ here as much depends on the size and utility of the installation as well as personal energy requirements and expenditure. Consult with the experts and remember that the best solution is not always the most immediately obvious.
One of the absolute advantages of going solar in Oregon is that the state is among the most committed to renewable energy resources in the country. The latest 2020 solar incentives in Oregon rate as one of the most generous and inclusive initiatives nationwide so far and is sure to see another substantial spike in solar uptake similar to that witnessed between 2016-2018. Make no mistake there is a firm commitment to going solar here and the state legislature is going to provide ongoing security and support for those who adopt to their initiatives.