Solar Panel Cost Guide in Norridgewock, ME (2023 Update)
- Norridgewock Solar Installation Cost: $11,258
- 25-Year Savings: $13,923
- Payback Period: 11.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Norridgewock
Find out what the average cost of solar panels are in Norridgewock.
The national average cost of solar panels is $2.66 per watt, but in Norridgewock it's 2.83 per watt. The average solar panel system size in Norridgewock is around 5.7 kilowatts, meaning a cost of about $11,252 for a solar installation, or $16,090 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of equipment you want to get, your solar contractor and more. With typical savings of about $17,000 on utility bills over 20 years, many homeowners in Norridgewock find installing solar panels has a decent ROI.
Click the button below to get connected to a reputable solar installer in Norridgewock for a personalized quote.
Solar savings over time in Norridgewock
| Year | Return on Investment |
|---|---|
| 1 years | $-11,174 |
| 3 years | $-11,006 |
| 5 years | $-10,838 |
| 7 years | $-10,671 |
| 9 years | $-10,503 |
| 11 years | $-10,335 |
| 13 years | $-10,167 |
| 15 years | $-9,999 |
| 17 years | $-9,831 |
| 19 years | $-9,663 |
| 21 years | $-9,495 |
| 23 years | $-9,328 |
| 25 years | $-9,160 |
Top Solar Installers in Norridgewock
When going solar, many homeowners choose to hire a solar company since handling can be a challenging project. A solar installer can also help save you money over time by offering warranties, repairs and system component replacements.
If you're searching for a solar company in Norridgewock, 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 Norridgewock
Factors that Affect Solar Panel Costs in Norridgewock
For many Norridgewock homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Norridgewock, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Norridgewock, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can determine by looking at past electricity bills. Your total cost can increase by about $2,830 for each additional kilowatt you need. The brand and kind of equipment you choose for your solar system can increase or decrease 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 limited roof space 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. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Norridgewock provide solar loans, which reduce the initial cost of installing a solar system. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to 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 finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you choose will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Norridgewock know more about local solar incentives and can help you take advantage 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 | $14,224 | 11.6 years |
| 8 kW | $2.89 | $16,165 | $19,282 | 11.4 years |
| 10 kW | $2.83 | $19,810 | $24,499 | 11.2 years |
| 12 kW | $2.77 | $23,297 | $29,874 | 11.0 years |
| 14 kW | $2.72 | $26,625 | $35,407 | 10.7 years |
| 16 kW | $2.66 | $29,794 | $41,099 | 10.5 years |
| 18 kW | $2.60 | $32,805 | $46,950 | 10.3 years |
| 20 kW | $2.55 | $35,658 | $52,959 | 10.1 years |
How to Save on Solar Panels
The solar company you go with will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Contract: When reading through your solar company'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 component breaking or the company going out of business.
- Installation Process: When going solar, it's crucial to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the project completion timeline.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of 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 satisfied reviews from previous customers.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which model 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 take a look at their list of offerings before making your decision.
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 Norridgewock, ME Solar Cost FAQs
What is the average cost of installing solar panels in Norridgewock?
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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Norridgewock?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.