Solar Panel Cost Guide in Maine, IL (2024 Update)
- Maine Solar Installation Cost: $16,818
- 25-Year Savings: $10,400
- Payback Period: 18.6 Years
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Average Cost of Solar Panels in Maine
Let’s have a look at the average cost of solar in Maine.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Maine, the average cost of solar panels is 4 per watt.To account for the typical energy usage of the average home in Maine, most homeowners require a 6.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,818, or $24,050 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of solar system you want to get, your solar contractor and more.Even with the large upfront cost, the average Maine homeowner can save about $13,000 on their energy bills over 20 years, which is one of the benefits of solar.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Maine
| Year | Return on Investment |
|---|---|
| 1 years | $-15,662 |
| 3 years | $-13,350 |
| 5 years | $-11,038 |
| 7 years | $-8,725 |
| 9 years | $-6,413 |
| 11 years | $-4,100 |
| 13 years | $-1,788 |
| 15 years | $524 |
| 17 years | $2,837 |
| 19 years | $5,149 |
| 21 years | $7,461 |
| 23 years | $9,774 |
| 25 years | $12,086 |
Top Solar Installers in Maine
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Using a solar panel installer can make your swap to solar power much easier. Some solar installers, especially local ones, can help you take advantage of incentives in Maine, optimizing your ROI.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Maine
Factors that Affect Solar Panel Costs in Maine
The cost of installing a solar system in Maine can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,760. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a popular choice because they reduce your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, 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 principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Maine is the company you hire to install your PV system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services for different budgets.The company’s size sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.91 | $16,424 | $4,808 | 19.3 years |
| 8 kW | $3.84 | $21,477 | $6,832 | 19.0 years |
| 10 kW | $3.76 | $26,320 | $9,066 | 18.6 years |
| 12 kW | $3.68 | $30,952 | $11,511 | 18.2 years |
| 14 kW | $3.61 | $35,374 | $14,166 | 17.9 years |
| 16 kW | $3.53 | $39,585 | $17,032 | 17.5 years |
| 18 kW | $3.46 | $43,586 | $20,109 | 17.1 years |
| 20 kW | $3.38 | $47,376 | $23,396 | 16.7 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: If you care about the longevity of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Maine, IL Solar Cost FAQs
How much does it cost to install solar panels in Maine?
The average cost of solar panels in Maine is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Maine?
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 power bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.