Understanding When to Go Solar
How Does the ROI Compare to 2017?
A 2018 investment in solar power is different than one made in 2017 in 2 major ways.
First, the upfront cost barrier has been significantly reduced!
Why is this true?
Second, the total amount of available money for going solar has decreased by $1,200 for PGE customers. It has decreased by $1,400 for Pacific Power customers.
Because your panels will still send the same amount of electricity to your home as they would have last year, the total time required for your panels to pay themselves off stretches out a bit.
The exact amount of time depends on how much electricity you use and the total solar resource available to your roof. In addition, your total costs could be impacted by the type of roof you have and other factors, like your exact electric rate (which can vary) and the age of your electrical panel and wiring. Ground mounted systems are also an option.
However, for an average Oregon homeowner, we expect to see an impact of approximately 3-6 years.
A free site evaluation will confirm your eligibility for the solar cash rebate and provide you with exact numbers, including your expected ROI.
Click here to contact us for a Free Site Evaluation, or feel free to drop us a line at (503) 208-4786.
First, the upfront cost barrier has been significantly reduced!
Why is this true?
- The RETC was a tax credit. It was available at tax time in 4 installments of $1,500. This stretched out the financial impact of the $6,000 credit over 4 years.
- This year, on the other hand, the increased solar rebate can be removed from the upfront cost altogether, if you choose. Financing and loans are still available to assist you. Therefore, the total cost of your investment drops immediately by comparison.
Second, the total amount of available money for going solar has decreased by $1,200 for PGE customers. It has decreased by $1,400 for Pacific Power customers.
Because your panels will still send the same amount of electricity to your home as they would have last year, the total time required for your panels to pay themselves off stretches out a bit.
The exact amount of time depends on how much electricity you use and the total solar resource available to your roof. In addition, your total costs could be impacted by the type of roof you have and other factors, like your exact electric rate (which can vary) and the age of your electrical panel and wiring. Ground mounted systems are also an option.
However, for an average Oregon homeowner, we expect to see an impact of approximately 3-6 years.
A free site evaluation will confirm your eligibility for the solar cash rebate and provide you with exact numbers, including your expected ROI.
Click here to contact us for a Free Site Evaluation, or feel free to drop us a line at (503) 208-4786.