Solar Panel Cost Guide in Fairfield, ME (2024 Update)
- Fairfield Solar Installation Cost: $15,117
- 25-Year Savings: $11,377
- Payback Period: 16.7 Years
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Average Cost of Solar Panels in Fairfield
We break down average solar pricing in Fairfield.
Although the national average of solar panels is $2.66 per watt, solar panels in Fairfield generally cost around 4.Because a 5.7-kW system is needed to cover the energy costs of a typical home in Fairfield, the average price of going solar will be about $15,117 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average Fairfield homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Despite the significant initial cost, the average Fairfield homeowner can save around $15,000 on their electricity bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a highly rated solar panel company in Fairfield for a customized estimate.
Solar savings over time in Fairfield
| Year | Return on Investment |
|---|---|
| 1 years | $-13,979 |
| 3 years | $-11,702 |
| 5 years | $-9,426 |
| 7 years | $-7,149 |
| 9 years | $-4,873 |
| 11 years | $-2,596 |
| 13 years | $-320 |
| 15 years | $1,957 |
| 17 years | $4,233 |
| 19 years | $6,510 |
| 21 years | $8,786 |
| 23 years | $11,063 |
| 25 years | $13,339 |
Top Solar Installers in Fairfield
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Taking advantage of a solar panel installer can make swapping over to solar power much easier. In addition, if you’d like to maximize your investment in solar, opting for a solar company can help with that as well. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
See all of the solar companies in Fairfield
Factors that Affect Solar Panel Costs in Fairfield
While the average cost of a solar system in Fairfield is $15,117, your final cost may be higher or lower than that. There are quite a few 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 keep in mind.
Solar Equipment
When it comes to estimating the price of a solar energy system in Fairfield, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can figure out by looking at past electricity bills. Your total cost can increase by around $3,800 for each additional kilowatt you need.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your power bills. In addition, extra products, like solar batteries, can bump up your total well above the Fairfield average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Fairfield, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible.It’s wise to add 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 the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Fairfield is the company you get to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that provide a range of services at different costs.The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger 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 | $7,299 | 17.4 years |
| 8 kW | $3.88 | $21,706 | $10,157 | 17.0 years |
| 10 kW | $3.80 | $26,600 | $13,229 | 16.7 years |
| 12 kW | $3.72 | $31,282 | $16,513 | 16.4 years |
| 14 kW | $3.65 | $35,750 | $20,010 | 16.0 years |
| 16 kW | $3.57 | $40,006 | $23,719 | 15.7 years |
| 18 kW | $3.50 | $44,050 | $27,642 | 15.4 years |
| 20 kW | $3.42 | $47,880 | $31,777 | 15.0 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
- Contract: Before you sign a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
EcoWatch's Fairfield, ME Solar Cost FAQs
How much does it cost to install solar panels in Fairfield?
This is a difficult question to answer precisely, because the cost depends on a variety of 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. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Fairfield?
Leasing solar panels can be an appealing choice, as it typically 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 maximize your savings.
How much can I save on electricity 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 $796.57 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 usually produce about 250 to 400 watt-hours per hour, the average household 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.