Solar Panel Cost Guide in Arundel, ME (2023 Update)
- Arundel Solar Installation Cost: $10,230
- 25-Year Savings: $13,291
- Payback Period: 10.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Arundel
Let's take a look at the average cost of solar in Arundel.
Although the national average of solar panels is $2.66 per watt, solar panels in Arundel generally cost around 2.83. The average solar panel system size in Arundel is around 5.2 kilowatts, meaning a cost of about $10,222 for a solar installation, or $14,617 before the 30% federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Arundel based on a variety of factors, such as the kind of solar panels you choose and the solar company you hire. For most homeowners, the upfront cost of solar is worth paying. On average Arundel homeowners see about $17,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a top solar installer in Arundel that can help you get a more accurate cost estimate for your home.
Solar savings over time in Arundel
| Year | Return on Investment |
|---|---|
| 1 years | $-10,152 |
| 3 years | $-9,995 |
| 5 years | $-9,838 |
| 7 years | $-9,681 |
| 9 years | $-9,524 |
| 11 years | $-9,368 |
| 13 years | $-9,211 |
| 15 years | $-9,054 |
| 17 years | $-8,897 |
| 19 years | $-8,740 |
| 21 years | $-8,584 |
| 23 years | $-8,427 |
| 25 years | $-8,270 |
Top Solar Installers in Arundel
Many homeowners decide to hire a solar installer since trying to install solar panels on your own can be a lot of work. Companies can also have access to a large variety of the best solar panels and help you choose which one will be best for your home.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Arundel
Factors that Affect Solar Panel Costs in Arundel
For many Arundel homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Arundel, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar system in Arundel, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by around $2,830 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Arundel, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a popular option because they decrease 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 total 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 securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Arundel, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Arundel 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 that service. 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 | $2.94 | $12,361 | $14,967 | 11.3 years |
| 8 kW | $2.89 | $16,165 | $20,273 | 11.1 years |
| 10 kW | $2.83 | $19,810 | $25,737 | 10.9 years |
| 12 kW | $2.77 | $23,297 | $31,360 | 10.7 years |
| 14 kW | $2.72 | $26,625 | $37,141 | 10.4 years |
| 16 kW | $2.66 | $29,794 | $43,081 | 10.2 years |
| 18 kW | $2.60 | $32,805 | $49,180 | 10.0 years |
| 20 kW | $2.55 | $35,658 | $55,436 | 9.8 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Arundel, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the completion timeline.
- Contract: Although reading through a contract can be tedious, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
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 Arundel, ME Solar Cost FAQs
What is the average cost of installing solar panels in Arundel?
The average cost of solar panels in Arundel is about $14,150 for a 5-kW system and $28,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Arundel?
Leasing solar panels can be an appealing 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 option if you want to maximize your savings.
How will installing solar panels impact how much my home is worth?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.