Solar Panel Cost Guide in Independence, OR (2024 Update)
- Independence Solar Installation Cost: $10,399
- 25-Year Savings: $14,559
- Payback Period: 11.6 Years
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Average Cost of Solar Panels in Independence
We go over average solar pricing in Independence.
The national average cost of solar panels is $2.66 per watt, but in Independence it’s 4 per watt.The average solar panel system size in Independence is around 4.2 kilowatts, meaning a cost of about $10,399 for a solar installation, or $14,871 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $21,000 in savings on utility bills over 20 years.
Click the button below to get connected to a top solar company in Independence for a custom quote.
Solar savings over time in Independence
| Year | Return on Investment |
|---|---|
| 1 years | $-9,189 |
| 3 years | $-6,771 |
| 5 years | $-4,352 |
| 7 years | $-1,934 |
| 9 years | $485 |
| 11 years | $2,904 |
| 13 years | $5,322 |
| 15 years | $7,741 |
| 17 years | $10,160 |
| 19 years | $12,578 |
| 21 years | $14,997 |
| 23 years | $17,415 |
| 25 years | $19,834 |
Top Solar Installers in Independence
Installing solar panels yourself can be a challenging project, which is why getting a solar installation company is a good option for many homeowners. Since solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you're searching for a solar installer in Independence, the EcoWatch team has compiled a list of our top suggestions here:
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 Independence
Factors that Affect Solar Panel Costs in Independence
Even though the average cost of a solar system in Independence is $10,399, your final cost may be above or below the average. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar system in Independence, one of the most important 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 electricity bills. Your total cost can increase by about $3,500 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you choose also changes the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
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 Independence homeowners choose to finance their solar panel systems to offset upfront costs.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar company you go with to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Independence, and each can charge varying amounts for labor and equipment.Additionally, some companies in Independence know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $16,472 | 12.0 years |
| 8 kW | $3.57 | $19,992 | $22,355 | 11.8 years |
| 10 kW | $3.50 | $24,500 | $28,433 | 11.6 years |
| 12 kW | $3.43 | $28,812 | $34,708 | 11.3 years |
| 14 kW | $3.36 | $32,928 | $41,179 | 11.1 years |
| 16 kW | $3.29 | $36,848 | $47,845 | 10.9 years |
| 18 kW | $3.22 | $40,572 | $54,708 | 10.6 years |
| 20 kW | $3.15 | $44,100 | $61,767 | 10.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar company. Make sure you understand how the installation process will go and the project completion timeline.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which brand 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 offerings before deciding.
- Contract: Before you sign a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
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 Independence, OR Solar Cost FAQs
What is the average cost of installing solar panels in Independence?
This is a hard question to answer precisely, because the cost depends on many factors. Generally 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 higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Independence?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The drawback 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 way to go if you want to get the most savings.
Is it worth going solar in Independence?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Independence?
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 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.