Solar Panel Cost Guide in North Yarmouth, ME (2023 Update)
- North Yarmouth Solar Installation Cost: $10,380
- 25-Year Savings: $12,255
- Payback Period: 11.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in North Yarmouth
Let's have a look at the average cost of solar in North Yarmouth.
The average cost of a solar system in North Yarmouth is 2.83 per watt. The average solar panel system size in North Yarmouth 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.
How much you pay can go higher or lower than the average in North Yarmouth based on several factors, such as the type of solar panels you choose and the solar company you hire. For many homeowners, the upfront cost of solar is worth paying. On average North Yarmouth homeowners see about $16,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a vetted solar company in North Yarmouth that can help you get a more accurate cost estimate for your home.
Solar savings over time in North Yarmouth
| 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 North Yarmouth
Although it's possible to install solar panels by yourself, it involves extra labor and handiness. That's one of the reasons most homeowners choose to go with a solar panel installer. Companies can also offer access to various kinds of the best solar panels and help you decide which one will be right for your family.
If you'd like to start using solar energy but still aren't certain which solar installer to go with, here are our recommendations for providers 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 North Yarmouth
Factors that Affect Solar Panel Costs in North Yarmouth
Though the average cost of a solar system in North Yarmouth is $10,380, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,830. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. In addition, add-on products, like solar batteries, can bump up your total well above the North Yarmouth average.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many North Yarmouth homeowners decide to finance their solar panel systems to offset upfront costs. 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in North Yarmouth is the company you hire to install your solar panel system. As with choosing a company to build a deck or pool, for instance, you'll have no shortage of solar installers that provide a range of services for different budgets. Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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 | $13,538 | 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 large number of companies to choose from in North Yarmouth, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
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 North Yarmouth, ME Solar Cost FAQs
How much does it cost to install solar panels in North Yarmouth?
The average cost of solar panels in North Yarmouth is about $14,150 for a 5-kW system and $28,300 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in North Yarmouth?
Leasing solar panels can be an attractive choice, because 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?
Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.