Solar Panel Cost Guide in Hermon, ME (2024 Update)
- Hermon Solar Installation Cost: $14,992
- 25-Year Savings: $12,499
- Payback Period: 15.8 Years
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Average Cost of Solar Panels in Hermon
We break down average solar pricing in Hermon.
In Hermon, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in Hermon, most homeowners require a 5.6-kilowatt system. Using the figure above, a solar installation costs about $14,992, or $21,439 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Hermon homeowner. The price 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.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Hermon can save about $16,000 on their power 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 Hermon
| Year | Return on Investment |
|---|---|
| 1 years | $-13,961 |
| 3 years | $-11,900 |
| 5 years | $-9,839 |
| 7 years | $-7,778 |
| 9 years | $-5,716 |
| 11 years | $-3,655 |
| 13 years | $-1,594 |
| 15 years | $467 |
| 17 years | $2,529 |
| 19 years | $4,590 |
| 21 years | $6,651 |
| 23 years | $8,712 |
| 25 years | $10,774 |
Top Solar Installers in Hermon
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Going with an installer can make your switch to solar power much easier. Some solar companies, particularly local ones, can help you better understand incentives in Hermon, therefore optimizing your ROI.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
Best National Provider
SunPower
- 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
- 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 Hermon
Factors that Affect Solar Panel Costs in Hermon
There are several criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The model of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Hermon to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time because of interest.Though solar loans make adopting solar energy more accessible for Hermon homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Hermon is the company you get to install your PV system. As with choosing a company to install new cabinets, for example, there’s no shortage of solar installers that offer a range of services for different budgets.You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, 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 | $3.95 | $16,598 | $8,593 | 16.5 years |
| 8 kW | $3.88 | $21,706 | $11,883 | 16.2 years |
| 10 kW | $3.80 | $26,600 | $15,386 | 15.8 years |
| 12 kW | $3.72 | $31,282 | $19,102 | 15.5 years |
| 14 kW | $3.65 | $35,750 | $23,030 | 15.2 years |
| 16 kW | $3.57 | $40,006 | $27,172 | 14.9 years |
| 18 kW | $3.50 | $44,050 | $31,526 | 14.6 years |
| 20 kW | $3.42 | $47,880 | $36,092 | 14.3 years |
How to Save on Solar Panels
There are many companies to choose from in Hermon, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Contract: Before you sign a contract with a solar installer, make sure to look it over carefully 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.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
Best National Provider
SunPower
- 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
- 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 Hermon, ME Solar Cost FAQs
How much does it cost to install solar panels in Hermon?
The average cost of solar panels in Hermon is about $19,000 for a 5-kW system and $38,000 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Hermon?
A solar panel system isn’t free in Hermon, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Does Hermon have a net metering program?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs 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 house 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.