Solar Panel Cost Guide in Norway, ME (2024 Update)
- Norway Solar Installation Cost: $14,648
- 25-Year Savings: $11,726
- Payback Period: 16.2 Years
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Average Cost of Solar Panels in Norway
See how much it might cost to go solar in Norway.
In Norway, solar panels cost about 4 per watt on average.To account for the typical energy usage of the average home in Norway, most homeowners require a 5.5-kilowatt system. Using the per-watt figure above, a solar installation costs about $14,648, or $20,947 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary quite a bit based on multiple factors, such as what size system you need, your energy usage and what installation company you go with.But, once you've paid the initial cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $16,000 over 20 years on electricity bills.
Click the button below to get connected to a reputable solar panel company in Norway for a customized estimate.
Solar savings over time in Norway
| Year | Return on Investment |
|---|---|
| 1 years | $-13,510 |
| 3 years | $-11,234 |
| 5 years | $-8,957 |
| 7 years | $-6,681 |
| 9 years | $-4,404 |
| 11 years | $-2,128 |
| 13 years | $149 |
| 15 years | $2,425 |
| 17 years | $4,702 |
| 19 years | $6,978 |
| 21 years | $9,255 |
| 23 years | $11,531 |
| 25 years | $13,808 |
Top Solar Installers in Norway
Many homeowners choose to hire a solar installation company since trying to put up solar panels by yourself can be a labor-intensive endeavor. The expertise that solar companies provide can be helpful as well, particularly if you don’t quite know what kind of solar equipment would be right for your home.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
See all of the solar companies in Norway
Factors that Affect Solar Panel Costs in Norway
The cost of installing a solar system in Norway can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.The model of solar panels and equipment you choose is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are offered by most installers in Norway, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of financing options, including the amount of 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 getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can play a part in determining your pricing. Norway’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $3.95 | $16,598 | $8,063 | 16.8 years |
| 8 kW | $3.88 | $21,706 | $11,176 | 16.5 years |
| 10 kW | $3.80 | $26,600 | $14,502 | 16.2 years |
| 12 kW | $3.72 | $31,282 | $18,041 | 15.9 years |
| 14 kW | $3.65 | $35,750 | $21,793 | 15.5 years |
| 16 kW | $3.57 | $40,006 | $25,757 | 15.2 years |
| 18 kW | $3.50 | $44,050 | $29,935 | 14.9 years |
| 20 kW | $3.42 | $47,880 | $34,325 | 14.6 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Warranty: If you’re concerned about the durability of your solar panels, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: When making the switch to solar energy, it’s essential to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the completion timeline.
EcoWatch's Norway, ME Solar Cost FAQs
How much does it cost to install solar panels in Norway?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $19,000 for a 5-kW system and $38,000 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Norway?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future utility bills.
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 take a 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 get 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.