Solar Panel Cost Guide in Camden, ME (2024 Update)
- Camden Solar Installation Cost: $14,215
- 25-Year Savings: $12,048
- Payback Period: 15.7 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Camden
Let’s have a look at the average cost of solar panels in Camden.
The national average cost of solar panels is $2.66 per watt, but in Camden it’s 4 per watt.The average solar panel system size in Camden is around 5.3 kilowatts, meaning a cost of about $14,215 for a solar installation, or $20,327 before the 0 federal solar tax credit is applied.
How much you pay can be above or below the average in Camden depending on a few factors, such as the brand of solar panels you choose and the solar installer you hire.Many homeowners find adopting solar power is a sound investment. The average homeowner in Camden can save around $16,000 on their energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Camden
Year | Return on Investment |
---|---|
1 years | $-13,077 |
3 years | $-10,801 |
5 years | $-8,524 |
7 years | $-6,248 |
9 years | $-3,971 |
11 years | $-1,695 |
13 years | $582 |
15 years | $2,858 |
17 years | $5,135 |
19 years | $7,411 |
21 years | $9,688 |
23 years | $11,964 |
25 years | $14,241 |
Top Solar Installers in Camden
Although it's possible to install solar panels on your own, it takes extra effort and expertise. That's one of the reasons most people choose to hire a solar panel installer. Companies can also offer access to various kinds of the best solar panels and help you pick which one will be best for your home.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Camden
Factors that Affect Solar Panel Costs in Camden
There are a number of factors that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production use 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 $3,800.The brand of solar panels and equipment you want is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to think 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 looking for a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Camden homeowners decide to finance their solar panel systems to offset upfront costs.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Camden is the company you choose to install your solar panel system. As with choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that offer a range of services for different budgets.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $8,815 | 16.3 years |
8 kW | $3.88 | $21,706 | $12,178 | 16.0 years |
10 kW | $3.80 | $26,600 | $15,755 | 15.7 years |
12 kW | $3.72 | $31,282 | $19,544 | 15.4 years |
14 kW | $3.65 | $35,750 | $23,547 | 15.1 years |
16 kW | $3.57 | $40,006 | $27,762 | 14.8 years |
18 kW | $3.50 | $44,050 | $32,189 | 14.4 years |
20 kW | $3.42 | $47,880 | $36,830 | 14.1 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 pick the right company for you, here are some tips to keep in mind:
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Camden, ME Solar Cost FAQs
What is the average cost of installing solar panels in Camden?
The average cost of solar panels in Camden is about $19,000 for a 5-kW system and $38,000 for a 10-kW system before the ITC, but the real cost will depend on things like the kind 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 Camden?
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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Do solar panels increase your property value?
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 Camden is currently $646,273, so you can expect a value of about $26,497 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Camden is a fruitful investment.
How many solar panels should I get to power 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.