Solar Panel Cost Guide in Limington, ME (2023 Update)
- Limington Solar Installation Cost: $10,222
- 25-Year Savings: $12,413
- Payback Period: 11.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Limington
Find out what the average cost of solar panels are in Limington.
The national average cost of solar panels is $2.66 per watt, but in Limington it's 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.
These figures are only averages, and the cost of going solar for you may differ based on the amount of energy your home requires and what company you choose to go with. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Limington can save around $17,000 on their electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Limington for a quote for your home.
Solar savings over time in Limington
| 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 Limington
Trying to put up solar panels by yourself can be a challenging task, which is why using a solar installation company is a good option for many homeowners. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
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 Limington
Factors that Affect Solar Panel Costs in Limington
For many Limington homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Limington, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The kind of solar panels and equipment you choose is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on 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
Many homeowners find the average cost of solar in Limington to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can play a part in determining your pricing. Limington's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $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
The solar company you go with will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few 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 brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Contract: When looking over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
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 Limington, ME Solar Cost FAQs
How much does it cost to install solar panels in Limington?
This is a tough question to answer precisely, because the cost depends on a few different 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. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Limington?
Solar panels aren't free in Limington, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How will installing solar panels impact my property value?
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 Limington is currently $185,429, which means you can look forward to a value of about $7,603 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Limington is a worthwhile investment.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.