Solar Panel Cost Guide in Kennebunkport, ME (2023 Update)
- Kennebunkport Solar Installation Cost: $10,222
- 25-Year Savings: $13,299
- Payback Period: 10.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Kennebunkport
We go over average solar pricing in Kennebunkport.
In Kennebunkport, solar panels cost about 2.83 per watt on average. The average Kennebunkport homeowner needs a 5.2-kilowatt system, which would cost about $10,222 with the federal tax credit, or $14,617 before the 30% tax credit is applied.
How much you pay can go above or below the average in Kennebunkport depending on a few factors, such as the brand of solar panels you choose and the solar company you hire. For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Kennebunkport see about $17,000 in savings on utility bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Kennebunkport
| Year | Return on Investment |
|---|---|
| 1 years | $-9,281 |
| 3 years | $-7,399 |
| 5 years | $-5,518 |
| 7 years | $-3,636 |
| 9 years | $-1,754 |
| 11 years | $127 |
| 13 years | $2,009 |
| 15 years | $3,891 |
| 17 years | $5,772 |
| 19 years | $7,654 |
| 21 years | $9,536 |
| 23 years | $11,418 |
| 25 years | $13,299 |
Top Solar Installers in Kennebunkport
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Taking advantage of a solar panel installer can make your swap to solar power much easier. A solar company can also help save you money over time by providing warranties, repairs and system component replacements.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Kennebunkport:
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 Kennebunkport
Factors that Affect Solar Panel Costs in Kennebunkport
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Kennebunkport: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Kennebunkport, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can gauge by looking at past power bills. Your total cost can increase by about $2,830 for each additional kilowatt you need. The type of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Plus, 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 falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Kennebunkport, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of financing options, including the total 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 securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you choose to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Kennebunkport, and each can charge varying amounts for labor and equipment. Some companies 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 at a higher cost. It's best to do some research and choose a company that offers 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 | $14,967 | 11.3 years |
| 8 kW | $2.89 | $16,165 | $20,273 | 11.1 years |
| 10 kW | $2.83 | $19,810 | $25,737 | 10.9 years |
| 12 kW | $2.77 | $23,297 | $31,360 | 10.7 years |
| 14 kW | $2.72 | $26,625 | $37,141 | 10.4 years |
| 16 kW | $2.66 | $29,794 | $43,081 | 10.2 years |
| 18 kW | $2.60 | $32,805 | $49,180 | 10.0 years |
| 20 kW | $2.55 | $35,658 | $55,436 | 9.8 years |
How to Save on Solar Panels
There are a lot of companies available in Kennebunkport, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Make sure you're on the same page with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Contract: When looking through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Solar Panel Brands: The kind of solar panel you'd like to install plays a role in which company you should opt for, since different companies provide different panels.
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 Kennebunkport, ME Solar Cost FAQs
How much does it cost to install solar panels in Kennebunkport?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally 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 additional solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Kennebunkport?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How will solar panels impact the value of my home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Kennebunkport is currently $312,500, which means you can look forward to a value of about $12,812 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Kennebunkport is a worthwhile investment.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable 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 continue to use 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.