Solar Panel Cost Guide in Hollis, ME (2023 Update)
- Hollis Solar Installation Cost: $10,222
- 25-Year Savings: $12,413
- Payback Period: 11.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Hollis
We go over average solar pricing in Hollis.
The national average cost of solar panels is $2.66 per watt, but in Hollis it's 2.83 per watt. To account for the typical energy usage of the average home in Hollis, most homeowners require a 5.2-kilowatt system. Using the figure above, a solar installation costs around $10,222, or $14,617 before the federal solar tax credit of 30% is applied.
How much you pay can go higher or lower than the average in Hollis based on several factors, such as the kind of solar panels you choose and the solar company you hire. But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $17,000 over 20 years on utility bills.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Hollis
| Year | Return on Investment |
|---|---|
| 1 years | $-9,317 |
| 3 years | $-7,506 |
| 5 years | $-5,695 |
| 7 years | $-3,884 |
| 9 years | $-2,073 |
| 11 years | $-263 |
| 13 years | $1,548 |
| 15 years | $3,359 |
| 17 years | $5,170 |
| 19 years | $6,981 |
| 21 years | $8,791 |
| 23 years | $10,602 |
| 25 years | $12,413 |
Top Solar Installers in Hollis
Many homeowners opt for a solar installer since trying to put up solar panels on your own can be a lot of work. Plus, if you're unsure what kind of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you'd like to go solar but still aren't sure which solar system installer to go with, here are our suggestions for providers near you:
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 Hollis
Factors that Affect Solar Panel Costs in Hollis
For many Hollis homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Hollis, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space 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 extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Hollis offer solar loans, which reduce the initial cost of installing a solar system. While solar loans make switching to solar energy more accessible for Hollis homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The remaining significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Hollis, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions 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 | $13,937 | 11.8 years |
| 8 kW | $2.89 | $16,165 | $18,900 | 11.5 years |
| 10 kW | $2.83 | $19,810 | $24,021 | 11.3 years |
| 12 kW | $2.77 | $23,297 | $29,301 | 11.1 years |
| 14 kW | $2.72 | $26,625 | $34,739 | 10.8 years |
| 16 kW | $2.66 | $29,794 | $40,335 | 10.6 years |
| 18 kW | $2.60 | $32,805 | $46,091 | 10.4 years |
| 20 kW | $2.55 | $35,658 | $52,004 | 10.2 years |
How to Save on Solar Panels
There are a large number of companies available in Hollis, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
- Contract: Before you sign a contract with a solar installer, make sure you read it through fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: The type of solar panel you need plays a role in which installer you should go with, since different companies have access to different panels.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
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 Hollis, ME Solar Cost FAQs
How much does it cost to install solar panels in Hollis?
The average cost of solar panels in Hollis 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 certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase how much your home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Hollis is currently $227,020, which means you can look forward to a value of about $9,308 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Hollis is a worthwhile investment.
How long do solar panels last in Hollis?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had 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.