Solar Panel Cost Guide in Gorham, ME (Feb 2023)

  • Gorham Solar Installation Cost: $10,380
  • 25-Year Savings: $12,255
  • Payback Period: 11.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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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 Gorham

Here's how much it might cost to switch to solar power in Gorham.

Although the national average of solar panels is $2.66 per watt, solar panels in Gorham generally cost around $3. To cover the typical energy needs of the average home in Gorham, most homeowners require a 5.2-kilowatt system. Using the figure above, a solar installation costs about $10,380, or $7,681 after the federal solar tax credit of 30% is applied.

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 solar panels you want, your solar contractor and more. But, after you've paid the upfront cost of installation, the payback for most homeowners is usually good, with a net average savings of about $16,000 over 20 years on electricity bills.

You can click the button below to get connected with a top solar installer in Gorham for a quote for your home.

Solar savings over time in Gorham

Year Return on Investment
1 years $-9,475
3 years $-7,664
5 years $-5,853
7 years $-4,043
9 years $-2,232
11 years $-421
13 years $1,390
15 years $3,201
17 years $5,011
19 years $6,822
21 years $8,633
23 years $10,444
25 years $12,255

Top Solar Installers in Gorham

Many homeowners decide to use a solar installer since figuring out how to install solar panels on your own can be challenging. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.

If you'd like to start using solar energy but still aren't certain which solar system installer to go with, here are our recommendations for providers near you:

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

★★★★★
4.5

  • 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 Gorham

Factors that Affect Solar Panel Costs in Gorham

Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that affect your total cost in Gorham: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.

Solar Equipment

When it comes to estimating the price of a solar panel system in Gorham, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by around $2,830 for each additional kilowatt you need. The brand and type of equipment you want 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 add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Gorham to be too steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest. It's a good idea to factor 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 off the loan.

Solar Panel Installation Company

The solar company you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Gorham, and each can charge different amounts for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that has the products, warranties and services you want and also fit into your budget.

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 $13,538 11.9 years
8 kW $2.89 $16,165 $18,367 11.7 years
10 kW $2.83 $19,810 $23,355 11.5 years
12 kW $2.77 $23,297 $28,502 11.2 years
14 kW $2.72 $26,625 $33,807 11.0 years
16 kW $2.66 $29,794 $39,270 10.8 years
18 kW $2.60 $32,805 $44,892 10.6 years
20 kW $2.55 $35,658 $50,673 10.3 years

How to Save on Solar Panels

Since the model of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
  • Installation Process: When going solar, it's necessary to keep an open line of communication with your solar company. See to it that you understand how the installation process works and the completion timeline.
  • Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose impacts 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

★★★★★
4.5

  • 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 Gorham, ME Solar Cost FAQs

What is the average cost of installing solar panels in Gorham?

The average cost of solar panels in Gorham is about $14,150 for a 5-kW system and $28,300 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.

Is it better to lease or buy solar panels in Gorham?

Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The drawback 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 way to go if you want to get the most savings.

Does Gorham have a net metering program?

The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

How often do you have to replace solar panels?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.

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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