Solar Panel Cost Guide in Hollis, ME (2023 Update)

  • Hollis Solar Installation Cost: $13,737
  • 25-Year Savings: $12,405
  • Payback Period: 15.2 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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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 Hollis

Let’s have a look at the average cost of solar in Hollis.

While the national average of solar panels is $2.66 per watt, solar panels in Hollis typically cost around 4.Because a 5.2-kW system is needed to cover the energy needs of a typical home in Hollis, the average price of going solar will be about $13,737 after claiming the federal solar tax credit of 0.

Bear in mind that the figures above are only estimates based on the average Hollis homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Hollis see about $17,000 in savings on utility bills over 20 years.

For a free 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 $-12,598
3 years $-10,322
5 years $-8,045
7 years $-5,769
9 years $-3,492
11 years $-1,216
13 years $1,061
15 years $3,337
17 years $5,614
19 years $7,890
21 years $10,167
23 years $12,443
25 years $14,720

Top Solar Installers in Hollis

Trying to install solar panels on your own can be a difficult project, which is why getting a solar installer is a good option for many homeowners. Another good thing about going with a reputable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.

There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

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

★★★★★
3.2

  • 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

Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Hollis: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.

Solar Equipment

The cost of solar panels 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 with better efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,800.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Hollis, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Most solar installers in Hollis offer solar loans, which reduce your upfront costs of installing a solar system.While solar loans make adopting solar energy more accessible for Hollis homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

A final consideration when trying to estimate the cost of solar for your home or business in Hollis is the company you hire to install your PV system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services at different costs.Additionally, some companies in Hollis have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.

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 $9,700 15.8 years
8 kW $3.88 $21,706 $13,359 15.5 years
10 kW $3.80 $26,600 $17,231 15.2 years
12 kW $3.72 $31,282 $21,316 14.9 years
14 kW $3.65 $35,750 $25,613 14.6 years
16 kW $3.57 $40,006 $30,123 14.3 years
18 kW $3.50 $44,050 $34,846 14.0 years
20 kW $3.42 $47,880 $39,782 13.7 years

How to Save on Solar Panels

The solar company you choose will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:

  • Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
  • Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
  • Contract: It’s important to read through your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
  • Warranty: If you’re concerned about the endurance of your solar panels, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.

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

★★★★★
3.2

  • 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

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

This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $19,000 for a 5-kW system and $38,000 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.

Is cost the most important consideration when buying solar panels?

Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Can you sell solar power back to the grid in Hollis?

The majority of states have net metering programs of some kind. Through these, you can receive compensation 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 should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home 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.

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