Solar Panel Cost Guide in Dover-Foxcroft, ME (2024 Update)
- Dover-Foxcroft Solar Installation Cost: $15,174
- 25-Year Savings: $12,363
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Dover-Foxcroft
We go over average solar pricing in Dover-Foxcroft.
The average cost of solar panels in Dover-Foxcroft is 4 per watt.Because a 5.7-kW system is needed to cover the energy costs of a typical home in Dover-Foxcroft, the average price of going solar will be about $15,174 after claiming the federal solar tax credit of 0.
How much you pay can go higher or lower than the average in Dover-Foxcroft depending on several factors, such as the brand of solar panels you choose and the solar contractor you hire.But, once you've paid the initial cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $16,000 over 20 years on energy bills.
You can click the button below to get connected with a top solar company in Dover-Foxcroft for a quote for your home.
Solar savings over time in Dover-Foxcroft
Year | Return on Investment |
---|---|
1 years | $-14,144 |
3 years | $-12,082 |
5 years | $-10,021 |
7 years | $-7,960 |
9 years | $-5,899 |
11 years | $-3,837 |
13 years | $-1,776 |
15 years | $285 |
17 years | $2,346 |
19 years | $4,408 |
21 years | $6,469 |
23 years | $8,530 |
25 years | $10,591 |
Top Solar Installers in Dover-Foxcroft
When making the switch to solar, many homeowners prefer to hire a solar installation company since overseeing your solar installation yourself can be a difficult project. The expertise that solar companies provide can be valuable as well, especially if you don’t quite know what type of solar equipment you need.
If you’d like to make the switch to solar but still aren’t sure which solar panel company to go with, here are our recommendations for providers in Dover-Foxcroft:
See all of the solar companies in Dover-Foxcroft
Factors that Affect Solar Panel Costs in Dover-Foxcroft
Even though the average cost of a solar system in Dover-Foxcroft is $15,174, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,800. The kind of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. 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 looking for a solar system that’s in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a popular option because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Even though solar loans make going solar more accessible for Dover-Foxcroft homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar panel installation company you choose will influence your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $8,291 | 16.7 years |
8 kW | $3.88 | $21,706 | $11,480 | 16.4 years |
10 kW | $3.80 | $26,600 | $14,882 | 16.0 years |
12 kW | $3.72 | $31,282 | $18,497 | 15.7 years |
14 kW | $3.65 | $35,750 | $22,324 | 15.4 years |
16 kW | $3.57 | $40,006 | $26,365 | 15.1 years |
18 kW | $3.50 | $44,050 | $30,618 | 14.7 years |
20 kW | $3.42 | $47,880 | $35,084 | 14.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: 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 good 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 roof configurations and how much efficiency they need. While there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before deciding.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
EcoWatch's Dover-Foxcroft, ME Solar Cost FAQs
What is the average cost of installing solar panels in Dover-Foxcroft?
This is a tough question to answer exactly, because the cost depends on a few different 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Dover-Foxcroft?
Leasing solar panels can be an appealing choice, because it usually 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 way to go if you want to maximize your savings.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
How long do solar panels last in Dover-Foxcroft?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.