Solar Panel Cost Guide in Auburn, ME (2023 Update)
- Auburn Solar Installation Cost: $10,697
- 25-Year Savings: $11,938
- Payback Period: 11.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Auburn
Let's have a look at the average cost of solar in Auburn.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Auburn, the average cost of solar panels is 2.83 per watt. Because a 5.4-kW system is needed to cover the energy usage of a typical home in Auburn, the average price of going solar will be about $10,697 after claiming the federal solar tax credit of 30%.
The true price you pay can go higher or lower than the average in Auburn depending on several factors, such as the model of solar panels you choose and the solar installer you hire. With typical savings of about $16,000 on electricity bills over 20 years, many homeowners in Auburn find going solar can be quite rewarding.
Click the button below to get connected to a highly rated solar panel company in your area for a personalized quote.
Solar savings over time in Auburn
| Year | Return on Investment |
|---|---|
| 1 years | $-9,792 |
| 3 years | $-7,981 |
| 5 years | $-6,170 |
| 7 years | $-4,360 |
| 9 years | $-2,549 |
| 11 years | $-738 |
| 13 years | $1,073 |
| 15 years | $2,884 |
| 17 years | $4,694 |
| 19 years | $6,505 |
| 21 years | $8,316 |
| 23 years | $10,127 |
| 25 years | $11,938 |
Top Solar Installers in Auburn
When going solar, many homeowners prefer to go with a solar installation company since installing a solar system yourself can be a challenging project. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some near you:
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 Auburn
Factors that Affect Solar Panel Costs in Auburn
The cost of installing a solar system in Auburn can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Auburn, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $2,830 for each additional kilowatt you need. The kind of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Auburn to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in paying more over time because of interest. 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 principal 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 solar company you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies in Auburn, and each can charge varying amounts for labor and equipment. Additionally, some companies in Auburn 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 | $12,766 | 12.3 years |
| 8 kW | $2.89 | $16,165 | $17,338 | 12.1 years |
| 10 kW | $2.83 | $19,810 | $22,069 | 11.8 years |
| 12 kW | $2.77 | $23,297 | $26,958 | 11.6 years |
| 14 kW | $2.72 | $26,625 | $32,006 | 11.4 years |
| 16 kW | $2.66 | $29,794 | $37,212 | 11.1 years |
| 18 kW | $2.60 | $32,805 | $42,576 | 10.9 years |
| 20 kW | $2.55 | $35,658 | $48,100 | 10.6 years |
How to Save on Solar Panels
There are numerous companies to choose from in Auburn, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While 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 take a look at their list of options before making your decision.
- Installation Process: When going solar, it's essential to keep an open line of communication with your solar installer. See to it that you understand how the installation process works and the project completion timeline.
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 Auburn, ME Solar Cost FAQs
How much does it cost to install solar panels in Auburn?
The average cost of solar panels in Auburn 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 things like the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Auburn?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
How much can I save on energy bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Auburn, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Auburn?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.