Solar Panel Cost Guide in Bar Harbor, ME (2023 Update)
- Bar Harbor Solar Installation Cost: $10,869
- 25-Year Savings: $13,309
- Payback Period: 11.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Bar Harbor
We break down average solar pricing in Bar Harbor.
In Bar Harbor, solar panels cost about 2.83 per watt on average. To cover the typical energy needs of the average home in Bar Harbor, most homeowners require a 5.5-kilowatt system. Using the figure above, a solar installation costs about $10,876, or $15,553 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of solar panels you choose, your solar contractor and more. Many homeowners find installing a solar system is a fruitful investment. The average homeowner in Bar Harbor can save around $17,000 on their energy bills over 20 years.
To receive a free quote from a top solar installer in Bar Harbor, you can click the button below.
Solar savings over time in Bar Harbor
| Year | Return on Investment |
|---|---|
| 1 years | $-9,839 |
| 3 years | $-7,777 |
| 5 years | $-5,716 |
| 7 years | $-3,655 |
| 9 years | $-1,594 |
| 11 years | $468 |
| 13 years | $2,529 |
| 15 years | $4,590 |
| 17 years | $6,651 |
| 19 years | $8,713 |
| 21 years | $10,774 |
| 23 years | $12,835 |
| 25 years | $14,896 |
Top Solar Installers in Bar Harbor
Trying to put up solar panels by yourself can be a difficult task, which is why getting a solar installer is a good option for many homeowners. Another benefit of using a solar company is that they can help you make the most of your return of investment by lowering your future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Bar Harbor
Factors that Affect Solar Panel Costs in Bar Harbor
There are many factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,830. There are many different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Bar Harbor, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you hire to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies in Bar Harbor, and each can charge different amounts for labor and equipment. Additionally, some companies in Bar Harbor know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $2.94 | $12,361 | $14,079 | 11.7 years |
| 8 kW | $2.89 | $16,165 | $19,088 | 11.5 years |
| 10 kW | $2.83 | $19,810 | $24,257 | 11.2 years |
| 12 kW | $2.77 | $23,297 | $29,583 | 11.0 years |
| 14 kW | $2.72 | $26,625 | $35,069 | 10.8 years |
| 16 kW | $2.66 | $29,794 | $40,712 | 10.6 years |
| 18 kW | $2.60 | $32,805 | $46,515 | 10.3 years |
| 20 kW | $2.55 | $35,658 | $52,475 | 10.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Warranty: If you're worried about the longevity of your solar energy system, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
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 Bar Harbor, ME Solar Cost FAQs
What is the average cost of installing solar panels in Bar Harbor?
The average cost of solar panels in Bar Harbor is about $14,150 for a 5-kW system and $28,300 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Bar Harbor?
Leasing solar panels can be an appealing choice, as 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 way to go if you want to maximize your savings.
Does Bar Harbor have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know 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 home 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.