Power companies will have to buy back your excess power at more than six times the current rate if you convert to a solar energy plan.
The estimated monthly savings would nearly match a typical power bill and the State of Oregon will guarantee the new payback program from 15 years.
“If I'm matched to about 80 or 90 percent of what I consume, I'm going to be collecting income for that 15-year period, so I won't owe the utilities any money,” explained Jeff Friedman with Live Light Energy.
Start up costs for solar systems will generally cost the typical homeowner between $12,000 to $15,000. Financing that amount probably means the program will not pencil out.
Pacific Power offers an explanation of the program.