Solar Panel Cost Guide in Augusta, ME (2024 Update)
- Augusta Solar Installation Cost: $14,502
- 25-Year Savings: $13,954
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Augusta
Let’s take a look at the average cost of solar panels in Augusta.
The average cost of a solar system in Augusta is 4 per watt.The average solar panel system size in Augusta is around 5.5 kilowatts, meaning a cost of about $14,502 for a solar installation, or $20,738 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of making the switch to solar can vary depending on a few factors, such as what size system you need, your energy usage and what installation company you go with.For many homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $16,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Augusta
Year | Return on Investment |
---|---|
1 years | $-13,364 |
3 years | $-11,087 |
5 years | $-8,811 |
7 years | $-6,534 |
9 years | $-4,258 |
11 years | $-1,981 |
13 years | $295 |
15 years | $2,572 |
17 years | $4,848 |
19 years | $7,125 |
21 years | $9,401 |
23 years | $11,678 |
25 years | $13,954 |
Top Solar Installers in Augusta
Many homeowners opt for a solar panel company since trying to put up solar panels by yourself can be time-consuming. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives and by providing warranties and repairs.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:
See all of the solar companies in Augusta
Factors that Affect Solar Panel Costs in Augusta
For many Augusta homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Augusta, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,800. The brand of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. 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 Augusta to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest.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’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Augusta is the company you choose to install your solar panel system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services at different costs.Additionally, some companies in Augusta know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $3.95 | $16,598 | $8,312 | 16.7 years |
8 kW | $3.88 | $21,706 | $11,509 | 16.3 years |
10 kW | $3.80 | $26,600 | $14,918 | 16.0 years |
12 kW | $3.72 | $31,282 | $18,540 | 15.7 years |
14 kW | $3.65 | $35,750 | $22,375 | 15.4 years |
16 kW | $3.57 | $40,006 | $26,423 | 15.1 years |
18 kW | $3.50 | $44,050 | $30,683 | 14.7 years |
20 kW | $3.42 | $47,880 | $35,156 | 14.4 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose considerably influences your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: The brand of solar panel you need plays a role in which company you should go with, since different companies provide different panels.
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
EcoWatch's Augusta, ME Solar Cost FAQs
What is the average cost of installing solar panels in Augusta?
This is a hard question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $19,000 for a 5-kW system and $38,000 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Augusta?
Most states have net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power 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 take a 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 install 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.