Solar Panel Cost Guide in Farmington, ME (2023 Update)
- Farmington Solar Installation Cost: $11,133
- 25-Year Savings: $12,593
- Payback Period: 11.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Farmington
Here's how much it might cost to go solar in Farmington.
The average cost of solar panels in Farmington is 2.83 per watt. The average Farmington homeowner needs a 5.6-kilowatt system, which would cost about $11,133 with the federal tax credit, or $15,920 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Farmington homeowners. 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. But, once you've paid the initial cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $16,000 over 20 years on power bills.
Click the button below to get connected to a vetted solar installer in your area for a personalized estimate.
Solar savings over time in Farmington
| Year | Return on Investment |
|---|---|
| 1 years | $-10,184 |
| 3 years | $-8,286 |
| 5 years | $-6,388 |
| 7 years | $-4,490 |
| 9 years | $-2,592 |
| 11 years | $-694 |
| 13 years | $1,204 |
| 15 years | $3,102 |
| 17 years | $5,000 |
| 19 years | $6,899 |
| 21 years | $8,797 |
| 23 years | $10,695 |
| 25 years | $12,593 |
Top Solar Installers in Farmington
Many homeowners decide to hire a solar panel company since figuring out how to install solar panels on your own can be hard. Companies can also offer access to quality options of the best solar panels and help you pick which one will be best for you.
If you're on the hunt for a solar company in Farmington, we've compiled a list of our top suggestions here:
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 Farmington
Factors that Affect Solar Panel Costs in Farmington
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few key 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 cost of solar panel systems varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher 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 $2,830. There are a lot of different solar panel brands and the one you choose also changes the cost. Typically, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Farmington homeowners decide to finance their solar panel systems to make paying for solar more affordable. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, 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 consideration when trying to evaluate the cost of solar for your home or business in Farmington is the company you get to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, there's no shortage of solar installers that offer a range of services at different costs. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, 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 | $2.94 | $12,361 | $12,960 | 12.2 years |
| 8 kW | $2.89 | $16,165 | $17,596 | 12.0 years |
| 10 kW | $2.83 | $19,810 | $22,392 | 11.7 years |
| 12 kW | $2.77 | $23,297 | $27,345 | 11.5 years |
| 14 kW | $2.72 | $26,625 | $32,458 | 11.3 years |
| 16 kW | $2.66 | $29,794 | $37,728 | 11.0 years |
| 18 kW | $2.60 | $32,805 | $43,158 | 10.8 years |
| 20 kW | $2.55 | $35,658 | $48,745 | 10.6 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Installation Process: When going solar, it's necessary to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the project completion timeline.
- 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 that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Contract: It's important to read through your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
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 Farmington, ME Solar Cost FAQs
How much does it cost to install solar panels in Farmington?
The average cost of solar panels in Farmington is about $14,150 for a 5-kW system and $28,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Farmington?
You can't get solar panels for free in Farmington. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Can solar panels significantly reduce my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Farmington, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using 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.