Solar Panel Cost Guide in Bowdoinham, ME (2023 Update)
- Bowdoinham Solar Installation Cost: $10,420
- 25-Year Savings: $12,215
- Payback Period: 11.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Bowdoinham
We go over average solar pricing in Bowdoinham.
Although the national average of solar panels is $2.66 per watt, solar panels in Bowdoinham generally cost about 2.83. Because a 5.3-kW system is needed to cover the energy usage of a typical home in Bowdoinham, the average price of going solar will be about $10,420 after claiming the federal solar tax credit of 30%.
How much you pay can be above or below the average in Bowdoinham depending on a few factors, such as the model of solar panels you choose and the solar contractor you hire. Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Bowdoinham can save around $16,000 on their energy bills over 20 years.
You can click the button below to get connected with a vetted solar company in Bowdoinham that can help you get a more accurate cost estimate for your home.
Solar savings over time in Bowdoinham
| Year | Return on Investment |
|---|---|
| 1 years | $-10,345 |
| 3 years | $-10,194 |
| 5 years | $-10,043 |
| 7 years | $-9,892 |
| 9 years | $-9,741 |
| 11 years | $-9,590 |
| 13 years | $-9,439 |
| 15 years | $-9,288 |
| 17 years | $-9,137 |
| 19 years | $-8,987 |
| 21 years | $-8,836 |
| 23 years | $-8,685 |
| 25 years | $-8,534 |
Top Solar Installers in Bowdoinham
Although it's possible to install solar panels on your own, it takes extra labor and expertise. Because of that, almost all homeowners choose a solar panel installer. Also, companies with a high reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you'd like to make the switch to solar but still aren't certain which solar installer to go with, here are our suggestions for providers 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 Bowdoinham
Factors that Affect Solar Panel Costs in Bowdoinham
Though the average cost of a solar system in Bowdoinham is $10,420, your final cost may differ. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,830 per kilowatt in Bowdoinham. The type of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about 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 falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are available from most installers in Bowdoinham, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. Though solar loans make switching to solar energy more accessible for Bowdoinham homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last significant cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Bowdoinham, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $13,458 | 12.0 years |
| 8 kW | $2.89 | $16,165 | $18,260 | 11.7 years |
| 10 kW | $2.83 | $19,810 | $23,222 | 11.5 years |
| 12 kW | $2.77 | $23,297 | $28,342 | 11.3 years |
| 14 kW | $2.72 | $26,625 | $33,620 | 11.0 years |
| 16 kW | $2.66 | $29,794 | $39,057 | 10.8 years |
| 18 kW | $2.60 | $32,805 | $44,652 | 10.6 years |
| 20 kW | $2.55 | $35,658 | $50,406 | 10.4 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
- Warranty: If you care about the endurance of your solar panels, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: When reading over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
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 Bowdoinham, ME Solar Cost FAQs
What is the average cost of installing solar panels in Bowdoinham?
The average cost of solar panels in Bowdoinham 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 certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Bowdoinham?
You can't get solar panels for free in Bowdoinham. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Bowdoinham?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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 how much 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 cover 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.