Solar Panel Cost Guide in Lake Arrowhead, ME (Mar 2023)
- Lake Arrowhead Solar Installation Cost: $10,222
- 25-Year Savings: $12,413
- Payback Period: 11.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lake Arrowhead
Find out what the average cost of installing solar panels is in Lake Arrowhead.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lake Arrowhead, the typical cost of a solar system is 2.83 per watt. Using this figure, a typical 5.2-kW system would cost about $10,222 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Lake Arrowhead homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $17,000 in savings on utility bills over 20 years.
Click the button below to get connected to a reputable solar company in Lake Arrowhead for a customized quote.
Solar savings over time in Lake Arrowhead
| 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 Lake Arrowhead
When switching to solar energy, many homeowners prefer to hire a solar installation company since putting up a solar system yourself can be a challenging project. Plus, if you aren't sure what type of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Lake Arrowhead
Factors that Affect Solar Panel Costs in Lake Arrowhead
The cost of installing a solar system in Lake Arrowhead can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar energy system in Lake Arrowhead, one of the most important 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 consumption, which you can determine by looking at past power bills. Your total cost can increase by around $2,830 for each additional kilowatt you need. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. In addition, add-on products, like solar batteries, can bump up your total well above the Lake Arrowhead average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Lake Arrowhead homeowners decide to finance their solar panel systems to make going solar more affordable. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you select will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and decide on the 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 | $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 lot of companies to choose from in Lake Arrowhead, 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:
- 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 unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Different companies will carry different brands and kinds of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
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 Lake Arrowhead, ME Solar Cost FAQs
How much does it cost to install solar panels in Lake Arrowhead?
The average cost of solar panels in Lake Arrowhead 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 kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How will installing solar panels impact how much my 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 Lake Arrowhead is currently $175,330, which means you can expect a value of about $7,189 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lake Arrowhead is a worthwhile investment.
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.