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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Updated February 03, 2024
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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 a solar panel system in Lewiston is 4 per watt.To account for the typical energy usage of the average home in Lewiston, most homeowners require a 5.4-kilowatt system. Using the figure above, a solar installation costs about $14,377, or $20,559 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Lewiston 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.Even with the high upfront cost, the average Lewiston homeowner can save around $16,000 on their power bills over 20 years, which is one of the positives of solar.
To get a free quote from a vetted solar installer 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
Many homeowners opt for a solar installer since trying to install solar panels by yourself can be challenging. Solar companies provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some nearby:
Best National Provider
SunPower
- 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
- 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
There are a number of factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,800. The kind of solar panels and equipment you choose is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, 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 looking for a solar system that’s in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a popular option because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also adds to your total costs, so it’s vital to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can affect the cost. Lewiston’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- 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 National Provider
SunPower
- 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
- 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 like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Lewiston?
Leasing solar panels can be an option if you are unable to 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 property 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 having solar panels impact my home value?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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 cover 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.