Solar Panel Cost Guide in Bath, ME (2024 Update)
- Bath Solar Installation Cost: $13,992
- 25-Year Savings: $12,215
- Payback Period: 15.5 Years
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Average Cost of Solar Panels in Bath
Let’s have a look at the average cost of solar panels in Bath.
Although the national average of solar panels is $2.66 per watt, solar panels in Bath typically cost around 4.Since a 5.3-kW system is needed to cover the energy usage of a typical home in Bath, the average price of going solar will be about $13,992 after claiming the federal solar tax credit of 0.
These figures are just averages, and how much solar costs for you will most likely differ based on factors unique to your home and what company you go with.Despite the high upfront cost, the average Bath homeowner can save around $16,000 on their power bills over 20 years, which is one of the perks 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 Bath
| Year | Return on Investment |
|---|---|
| 1 years | $-12,853 |
| 3 years | $-10,577 |
| 5 years | $-8,300 |
| 7 years | $-6,024 |
| 9 years | $-3,747 |
| 11 years | $-1,471 |
| 13 years | $806 |
| 15 years | $3,082 |
| 17 years | $5,358 |
| 19 years | $7,635 |
| 21 years | $9,911 |
| 23 years | $12,188 |
| 25 years | $14,464 |
Top Solar Installers in Bath
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar company can make your switch to solar power much easier. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
See all of the solar companies in Bath
Factors that Affect Solar Panel Costs in Bath
Though the average cost of a solar system in Bath is $13,992, your actual cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
When it comes to estimating the price of a solar energy system in Bath, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $3,800 for each additional kilowatt you need.The brand and type of equipment you get 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 a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Bath provide solar loans, which reduce the initial cost of installing a solar system.However, the interest on solar loans also adds to your overall costs, so it’s vital to include that in your estimate as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can influence how much you pay. Bath’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Bath have more knowledge 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 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 | $3.95 | $16,598 | $9,221 | 16.1 years |
| 8 kW | $3.88 | $21,706 | $12,720 | 15.8 years |
| 10 kW | $3.80 | $26,600 | $16,432 | 15.5 years |
| 12 kW | $3.72 | $31,282 | $20,357 | 15.1 years |
| 14 kW | $3.65 | $35,750 | $24,494 | 14.8 years |
| 16 kW | $3.57 | $40,006 | $28,845 | 14.5 years |
| 18 kW | $3.50 | $44,050 | $33,408 | 14.2 years |
| 20 kW | $3.42 | $47,880 | $38,184 | 13.9 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Contract: Look through the contract terms thoroughly to make sure you understand the overall cost, project timeline rebates and warranties.
EcoWatch's Bath, ME Solar Cost FAQs
How much does it cost to install solar panels in Bath?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly 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 be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Bath?
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.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Bath is currently $343,579, which means you can expect a value of about $14,087 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Bath is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption 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 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.