Solar Panel Cost Guide in New Gloucester, ME (2024 Update)
- New Gloucester Solar Installation Cost: $13,948
- 25-Year Savings: $12,247
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in New Gloucester
We break down average solar pricing in New Gloucester.
In New Gloucester, solar panels cost about 4 per watt on average.The average solar panel system size in New Gloucester is around 5.2 kilowatts, meaning a cost of about $13,948 for a solar installation, or $19,946 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy consumption, the type of equipment you want, your solar contractor and more.For many homeowners, the upfront cost of solar is worth paying. On average New Gloucester homeowners see about $16,000 in savings on energy bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in New Gloucester
| Year | Return on Investment |
|---|---|
| 1 years | $-12,810 |
| 3 years | $-10,534 |
| 5 years | $-8,257 |
| 7 years | $-5,981 |
| 9 years | $-3,704 |
| 11 years | $-1,428 |
| 13 years | $849 |
| 15 years | $3,125 |
| 17 years | $5,402 |
| 19 years | $7,678 |
| 21 years | $9,955 |
| 23 years | $12,231 |
| 25 years | $14,508 |
Top Solar Installers in New Gloucester
Although it's possible to install solar panels by yourself, it involves extra energy and expertise. For that reason, the majority of homeowners choose to go with a solar panel installer. Solar companies provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some near you:
See all of the solar companies in New Gloucester
Factors that Affect Solar Panel Costs in New Gloucester
There are several factors that can affect your 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
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $3,800 per kilowatt in New Gloucester.There are several different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in New Gloucester, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible.Though solar loans make switching to solar energy more accessible for New Gloucester homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can play a role in determining how much it costs. New Gloucester’s solar companies all have different labor costs and add varying upcharges to 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 cost more. It’s best to do some research and choose a company that provides the products, warranties and services you’re looking for and also fits within 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 | $9,301 | 16.0 years |
| 8 kW | $3.88 | $21,706 | $12,827 | 15.7 years |
| 10 kW | $3.80 | $26,600 | $16,565 | 15.4 years |
| 12 kW | $3.72 | $31,282 | $20,517 | 15.1 years |
| 14 kW | $3.65 | $35,750 | $24,681 | 14.8 years |
| 16 kW | $3.57 | $40,006 | $29,058 | 14.5 years |
| 18 kW | $3.50 | $44,050 | $33,648 | 14.2 years |
| 20 kW | $3.42 | $47,880 | $38,451 | 13.9 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 several important things you should take into account, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can research your installer’s reputation is by reading reviews.
- Solar Panel Brands: Different companies have different brands and kinds of panels. If you want a specific brand, make sure the solar company you’re considering has it.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Warranty: If you care about the endurance of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
EcoWatch's New Gloucester, ME Solar Cost FAQs
How much does it cost to install solar panels in New Gloucester?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $19,000 for a 5-kW system and $38,000 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a crucial 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 be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Is it worth going solar in New Gloucester?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
What solar power system size is right for 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 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 install 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.