Solar Panel Cost Guide in Ellsworth, ME (2024 Update)
- Ellsworth Solar Installation Cost: $14,595
- 25-Year Savings: $12,795
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in Ellsworth
Let’s have a look at the average cost of solar panels in Ellsworth.
The national average cost of solar panels is $2.66 per watt, but in Ellsworth it’s 4 per watt.To account for the typical energy usage of the average home in Ellsworth, most homeowners require a 5.5-kilowatt system. Using the figure above, a solar installation costs around $14,595, or $20,871 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Ellsworth homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.For many homeowners, the upfront investment in solar is worth paying. On average homeowners in Ellsworth see about $16,000 in savings on energy bills over 20 years.
To get a free estimate from a vetted solar company in Ellsworth, you can click the button below.
Solar savings over time in Ellsworth
| Year | Return on Investment |
|---|---|
| 1 years | $-13,564 |
| 3 years | $-11,503 |
| 5 years | $-9,442 |
| 7 years | $-7,380 |
| 9 years | $-5,319 |
| 11 years | $-3,258 |
| 13 years | $-1,197 |
| 15 years | $865 |
| 17 years | $2,926 |
| 19 years | $4,987 |
| 21 years | $7,048 |
| 23 years | $9,110 |
| 25 years | $11,171 |
Top Solar Installers in Ellsworth
Although it's possible to install solar panels on your own, it takes extra labor and know-how. For that reason, most people choose a solar panel installer. Some solar installers, especially local ones, can help you make the most of incentives in Ellsworth, optimizing your ROI.
If you're on the hunt for a solar company in Ellsworth, the EcoWatch team has compiled a list of our top suggestions here:
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 Ellsworth
Factors that Affect Solar Panel Costs in Ellsworth
While the average cost of a solar system in Ellsworth is $14,595, your final cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,800. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Ellsworth homeowners opt to finance their solar panel systems to offset upfront costs.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Ellsworth is the company you hire to install your PV system. As with choosing a company to renovate your kitchen, for example, you’ll have no shortage of solar installers that provide a range of services for different budgets.You may notice national solar installers that have lower prices due to 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 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 | $9,279 | 16.0 years |
| 8 kW | $3.88 | $21,706 | $12,798 | 15.7 years |
| 10 kW | $3.80 | $26,600 | $16,529 | 15.4 years |
| 12 kW | $3.72 | $31,282 | $20,473 | 15.1 years |
| 14 kW | $3.65 | $35,750 | $24,630 | 14.8 years |
| 16 kW | $3.57 | $40,006 | $29,000 | 14.5 years |
| 18 kW | $3.50 | $44,050 | $33,582 | 14.2 years |
| 20 kW | $3.42 | $47,880 | $38,378 | 13.9 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Ellsworth, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: When making the switch to solar power, it’s necessary to maintain an open line of communication with your solar company. Make sure you understand how the installation process will go and the completion timeline.
- Warranty: If you’re worried about the endurance of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Contract: Read the contract terms carefully to make sure you understand the overall cost, project timeline incentives and warranties.
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 Ellsworth, ME Solar Cost FAQs
What is the average cost of installing solar panels in Ellsworth?
This is a difficult question to answer precisely, because the cost depends on many 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 cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $862.58 per year.
How many solar panels should I get to power 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 house 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.