Solar Panel Cost Guide in New Gloucester, ME (2023 Update)

  • New Gloucester Solar Installation Cost: $10,380
  • 25-Year Savings: $12,255
  • Payback Period: 11.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated March 14, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in New Gloucester

Find out what the average cost of a solar system is in New Gloucester.

While the national average of solar panels is $2.66 per watt, solar panels in New Gloucester generally cost around 2.83. The average solar panel system size in New Gloucester is around 5.2 kilowatts, meaning a cost of about $10,380 for a solar installation, or $14,843 before the 30% federal solar tax credit is applied.

These figures are just averages, and how much solar costs for you may differ based on the amount of energy your home requires and what company you want to go with. Despite the high initial cost, the average New Gloucester homeowner can save about $16,000 on their energy bills over 20 years, which is one of the benefits of solar.

For a customized quote from a local solar installer 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 $-9,475
3 years $-7,664
5 years $-5,853
7 years $-4,043
9 years $-2,232
11 years $-421
13 years $1,390
15 years $3,201
17 years $5,011
19 years $6,822
21 years $8,633
23 years $10,444
25 years $12,255

Top Solar Installers in New Gloucester

Although you can install solar panels by yourself, it takes extra energy and handiness. That's why most homeowners choose to go with a solar panel installer. The expertise that solar companies offer can be valuable as well, particularly if you aren't sure what kind of solar equipment would be right for your home.

If you're looking for a solar company in New Gloucester, we've organized a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • 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 New Gloucester

Factors that Affect Solar Panel Costs in New Gloucester

There are several criteria that can influence your solar panel 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

The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,830. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in New Gloucester to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest. You'll have to consider the long-term cost of loans, 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.

Solar Panel Installation Company

The solar panel installer you select will play a role in your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in New Gloucester have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.

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 $13,538 11.9 years
8 kW $2.89 $16,165 $18,367 11.7 years
10 kW $2.83 $19,810 $23,355 11.5 years
12 kW $2.77 $23,297 $28,502 11.2 years
14 kW $2.72 $26,625 $33,807 11.0 years
16 kW $2.66 $29,794 $39,270 10.8 years
18 kW $2.60 $32,805 $44,892 10.6 years
20 kW $2.55 $35,658 $50,673 10.3 years

How to Save on Solar Panels

There are a lot of companies to choose from in New Gloucester, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:

  • Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
  • Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
  • Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • 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 New Gloucester, ME Solar Cost FAQs

What is the average cost of installing solar panels in New Gloucester?

This is a tough question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $14,150 for a 5-kW system and $28,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.

Should I lease or buy solar panels in New Gloucester?

Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to 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 bang for your buck from going solar.

Is it worth going solar in New Gloucester?

Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.

How often do you have to replace solar panels?

On average, solar panels can last 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.

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