Solar Panel Cost Guide in Farmington, ME (2024 Update)

  • Farmington Solar Installation Cost: $14,955
  • 25-Year Savings: $12,589
  • Payback Period: 15.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Farmington

We go over average solar pricing in Farmington.

The national average cost of solar panels is $2.66 per watt, but in Farmington it’s 4 per watt.To cover the typical energy usage of the average home in Farmington, most homeowners require a 5.6-kilowatt system. Using the figure above, a solar installation costs around $14,955, or $21,386 before the federal solar tax credit of 0 is applied.

The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of installing solar panels can vary quite a bit depending on multiple factors, such as what size system you need, your energy usage and what company you go with.For most homeowners, the upfront cost of solar power is worth paying. On average Farmington homeowners see about $16,000 in savings on energy bills over 20 years.

For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Farmington

Year Return on Investment
1 years $-13,816
3 years $-11,540
5 years $-9,263
7 years $-6,987
9 years $-4,710
11 years $-2,434
13 years $-157
15 years $2,119
17 years $4,396
19 years $6,672
21 years $8,948
23 years $11,225
25 years $13,501

Top Solar Installers in Farmington

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Hiring an installer can make switching to solar power much easier. Plus, if you aren’t sure what type of solar panels and equipment you want, a solar installer can help you figure that out after a site survey and consultation.

Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
3.2

  • 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 Farmington

Factors that Affect Solar Panel Costs in Farmington

Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Farmington: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.

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, you can expect your total to increase by about $3,800. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Farmington to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time due to interest.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.

Solar Panel Installation Company

The solar company you hire to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar panel companies in Farmington, and each can charge different amounts for labor and equipment.Additionally, some companies in Farmington are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.

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 $8,723 16.4 years
8 kW $3.88 $21,706 $12,056 16.1 years
10 kW $3.80 $26,600 $15,602 15.8 years
12 kW $3.72 $31,282 $19,360 15.4 years
14 kW $3.65 $35,750 $23,332 15.1 years
16 kW $3.57 $40,006 $27,516 14.8 years
18 kW $3.50 $44,050 $31,913 14.5 years
20 kW $3.42 $47,880 $36,523 14.2 years

How to Save on Solar Panels

The solar company you go with will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, such as:

  • Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
  • Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
  • Contract: When looking 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 component breaking or the company going out of business.
  • Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
3.2

  • 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 Farmington, ME Solar Cost FAQs

How much does it cost to install solar panels in Farmington?

This is a difficult question to answer exactly, because the cost depends on a variety of 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 be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. 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 Farmington?

Leasing solar panels can be an attractive 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.

Is it worth going solar in Farmington?

Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already fairly low, solar panels might not be for you.

How long do solar panels last in Farmington?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use them at a lower efficiency.

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.

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