Solar Panel Cost Guide in Lewiston, ME (2024 Update)
- Lewiston Solar Installation Cost: $14,377
- 25-Year Savings: $11,928
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in Lewiston
Find out how much it might cost to make the switch to solar in Lewiston.
The average cost of solar panels in Lewiston is 4 per watt.To cover the typical energy needs of the average home in Lewiston, most homeowners require a 5.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $14,377, or $20,559 before the federal solar tax credit of 0 is applied.
The true price you pay can be higher or lower than the average in Lewiston based on a few factors, such as the type of solar panels you choose and the solar installer you hire.With average savings of about $16,000 on power bills over 20 years, many homeowners in Lewiston find installing solar panels has a decent ROI.
To get a free estimate from a pre-vetted solar installation company in Lewiston, you can click the button below.
Solar savings over time in Lewiston
| Year | Return on Investment |
|---|---|
| 1 years | $-13,239 |
| 3 years | $-10,962 |
| 5 years | $-8,686 |
| 7 years | $-6,409 |
| 9 years | $-4,133 |
| 11 years | $-1,856 |
| 13 years | $420 |
| 15 years | $2,697 |
| 17 years | $4,973 |
| 19 years | $7,250 |
| 21 years | $9,526 |
| 23 years | $11,803 |
| 25 years | $14,079 |
Top Solar Installers in Lewiston
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Using a solar panel installer can make converting to solar power much easier. Since solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
Working with a professional solar company can make going solar easier. Here are our recommendations:
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 Lewiston
Factors that Affect Solar Panel Costs in Lewiston
The cost of installing a solar system in Lewiston can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Lewiston offer solar loans, which reduce the initial cost of installing solar panels.However, the interest on solar loans also increases your overall costs, so it’s vital to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies in Lewiston, and each can charge varying amounts for labor and equipment.Companies that 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 decide on the company that has the products, warranties and services you’re looking for 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 | $3.95 | $16,598 | $8,529 | 16.5 years |
| 8 kW | $3.88 | $21,706 | $11,797 | 16.2 years |
| 10 kW | $3.80 | $26,600 | $15,279 | 15.9 years |
| 12 kW | $3.72 | $31,282 | $18,973 | 15.6 years |
| 14 kW | $3.65 | $35,750 | $22,880 | 15.2 years |
| 16 kW | $3.57 | $40,006 | $27,000 | 14.9 years |
| 18 kW | $3.50 | $44,050 | $31,332 | 14.6 years |
| 20 kW | $3.42 | $47,880 | $35,878 | 14.3 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose significantly impacts your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar companies 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 choose.
- Warranty: If you’re concerned about the durability of your solar panels, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- 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 should know with your solar company, such as what permits you should acquire and what the project timeline is.
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 Lewiston, ME Solar Cost FAQs
What is the average cost of installing solar panels in Lewiston?
The average cost of solar panels in Lewiston 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 such as the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Lewiston?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of 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 savings from going solar.
Do solar panels increase your property value?
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 Lewiston is currently $279,991, which means you could be looking at a value of about $11,480 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lewiston is a worthwhile investment.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.