Solar Panel Cost Guide in Glenburn, ME (2023 Update)
- Glenburn Solar Installation Cost: $11,165
- 25-Year Savings: $12,705
- Payback Period: 11.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Glenburn
Let's take a look at the average cost of solar panels in Glenburn.
The national average cost of solar panels is $2.66 per watt, but in Glenburn it's 2.83 per watt. Since a 5.6-kW system is needed to cover the energy usage of a typical home in Glenburn, the average price of going solar will be about $11,173 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of equipment you want to get, your solar contractor and more. For many homeowners, the upfront investment in solar power is worth paying. On average Glenburn homeowners see about $16,000 in savings on energy bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Glenburn
| Year | Return on Investment |
|---|---|
| 1 years | $-11,086 |
| 3 years | $-10,926 |
| 5 years | $-10,767 |
| 7 years | $-10,608 |
| 9 years | $-10,449 |
| 11 years | $-10,290 |
| 13 years | $-10,131 |
| 15 years | $-9,972 |
| 17 years | $-9,812 |
| 19 years | $-9,653 |
| 21 years | $-9,494 |
| 23 years | $-9,335 |
| 25 years | $-9,176 |
Top Solar Installers in Glenburn
Trying to put up solar panels yourself can be a stressful undertaking, which is why hiring a solar installation company is a good option for many homeowners. Some solar installers, especially local ones, can help you better understand incentives in Glenburn, therefore optimizing your ROI.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
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 Glenburn
Factors that Affect Solar Panel Costs in Glenburn
Although the average cost of a solar system in Glenburn is $11,173, your final cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need 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. The type of solar panels and equipment you get is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Furthermore, solar equipment consists of more than 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 researching a solar system that's in your budget.
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 Glenburn homeowners opt to finance their solar panel systems to make paying for solar more affordable. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you hire to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Glenburn, and each can charge different amounts for labor and equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, 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 | $2.94 | $12,361 | $13,049 | 12.2 years |
| 8 kW | $2.89 | $16,165 | $17,716 | 11.9 years |
| 10 kW | $2.83 | $19,810 | $22,541 | 11.7 years |
| 12 kW | $2.77 | $23,297 | $27,525 | 11.5 years |
| 14 kW | $2.72 | $26,625 | $32,667 | 11.2 years |
| 16 kW | $2.66 | $29,794 | $37,968 | 11.0 years |
| 18 kW | $2.60 | $32,805 | $43,427 | 10.8 years |
| 20 kW | $2.55 | $35,658 | $49,045 | 10.5 years |
How to Save on Solar Panels
There are many companies to choose from in Glenburn, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Read the contract terms closely to make sure you understand the total cost, completion timeline incentives and warranties.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
- Warranty: If you're concerned about the longevity of your solar panel system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- 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 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 Glenburn, ME Solar Cost FAQs
What is the average cost of installing solar panels in Glenburn?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,150 for a 5-kW system and $28,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Glenburn?
Leasing solar panels can be an appealing choice, as it often 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 energy bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Glenburn, 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 contact a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.