Solar Panel Cost Guide in Millinocket, ME (2024 Update)
- Millinocket Solar Installation Cost: $14,992
- 25-Year Savings: $13,013
- Payback Period: 15.5 Years
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Average Cost of Solar Panels in Millinocket
We break down average solar pricing in Millinocket.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Millinocket, the typical cost of a solar system is 4 per watt.Using this figure, a typical 5.6-kW system would cost about $14,992 before the 0 federal solar tax credit is applied.
How much you pay can be above or below the average in Millinocket depending on a few factors, such as the kind of solar panels you choose and the solar contractor you hire.Despite the significant upfront cost, the average Millinocket homeowner can save about $16,000 on their electricity bills over 20 years, which is one of the perks of solar.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Millinocket
| Year | Return on Investment |
|---|---|
| 1 years | $-13,961 |
| 3 years | $-11,900 |
| 5 years | $-9,839 |
| 7 years | $-7,778 |
| 9 years | $-5,716 |
| 11 years | $-3,655 |
| 13 years | $-1,594 |
| 15 years | $467 |
| 17 years | $2,529 |
| 19 years | $4,590 |
| 21 years | $6,651 |
| 23 years | $8,712 |
| 25 years | $10,774 |
Top Solar Installers in Millinocket
Although you can install solar panels by yourself, it requires extra time and knowledge. That's one of the reasons most homeowners choose a solar panel installer. Solar warranties and repairs are ordinarily included in the cost of installation when you opt for a solar contractor too, which can save you more money after your upfront investment.
If you're searching for a solar company in Millinocket, the EcoWatch team has put together a list of our top suggestions here:
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 Millinocket
Factors that Affect Solar Panel Costs in Millinocket
There are several criteria that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the cost of a solar system in Millinocket, 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 determine by looking at past power bills. Your overall cost can increase by around $3,800 for each additional kilowatt you need.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 can expect a higher equipment cost, but this can typically lead to greater 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
If paying for a solar system in cash is too expensive, solar loans are a solid route because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also increases your overall costs, so it’s crucial to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installation company you select will impact your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.Companies that 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 come with an above-average cost. It’s best to do some research and go with the company that has 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 | $3.95 | $16,598 | $9,141 | 16.1 years |
| 8 kW | $3.88 | $21,706 | $12,614 | 15.8 years |
| 10 kW | $3.80 | $26,600 | $16,299 | 15.5 years |
| 12 kW | $3.72 | $31,282 | $20,197 | 15.2 years |
| 14 kW | $3.65 | $35,750 | $24,308 | 14.9 years |
| 16 kW | $3.57 | $40,006 | $28,632 | 14.6 years |
| 18 kW | $3.50 | $44,050 | $33,169 | 14.3 years |
| 20 kW | $3.42 | $47,880 | $37,918 | 14.0 years |
How to Save on Solar Panels
The solar panel company you choose will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:
- Contract: Read the contract terms carefully to make sure you understand the overall cost, completion timeline incentives and warranties.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
- Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
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 Millinocket, ME Solar Cost FAQs
What is the average cost of installing solar panels in Millinocket?
The average cost of solar panels in Millinocket 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 type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Millinocket?
You can’t get solar panels for free in Millinocket. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $857.98 per year.
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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.