Solar Panel Cost Guide in Norway, ME (2023 Update)
- Norway Solar Installation Cost: $10,915
- 25-Year Savings: $11,720
- Payback Period: 12.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Norway
Let's have a look at the average cost of solar panels in Norway.
Although the national average of solar panels is $2.66 per watt, solar panels in Norway typically cost around 2.83. To account for the typical energy needs of the average home in Norway, most homeowners require a 5.5-kilowatt system. Using the figure above, a solar installation costs around $10,915, or $15,608 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of installing solar panels can vary quite a bit depending on a few factors, such as what size system you need, your energy usage and what installation company you go with. Despite the significant upfront cost, the average Norway homeowner can save around $16,000 on their energy bills over 20 years, which is one of the benefits of solar.
To receive a free quote from a pre-vetted solar company in Norway, you can click the button below.
Solar savings over time in Norway
| Year | Return on Investment |
|---|---|
| 1 years | $-10,010 |
| 3 years | $-8,199 |
| 5 years | $-6,388 |
| 7 years | $-4,578 |
| 9 years | $-2,767 |
| 11 years | $-956 |
| 13 years | $855 |
| 15 years | $2,666 |
| 17 years | $4,476 |
| 19 years | $6,287 |
| 21 years | $8,098 |
| 23 years | $9,909 |
| 25 years | $11,720 |
Top Solar Installers in Norway
When making the switch to solar, many homeowners decide to use a solar installer since handling can be a difficult project. Plus, if you aren't sure what type of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
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 Norway
Factors that Affect Solar Panel Costs in Norway
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Norway: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Norway, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can figure out by looking at past power bills. Your overall cost can increase by around $2,830 for each additional kilowatt you need. The type of solar equipment you choose can increase or decrease your cost 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. On the other hand, higher efficiency could save you more in the long run on your electric bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Norway average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Norway homeowners opt to finance their solar panel systems to make going solar more affordable. 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'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 APR could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can impact the cost. Norway's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $12,300 | 12.5 years |
| 8 kW | $2.89 | $16,165 | $16,717 | 12.3 years |
| 10 kW | $2.83 | $19,810 | $21,292 | 12.0 years |
| 12 kW | $2.77 | $23,297 | $26,026 | 11.8 years |
| 14 kW | $2.72 | $26,625 | $30,919 | 11.6 years |
| 16 kW | $2.66 | $29,794 | $35,969 | 11.3 years |
| 18 kW | $2.60 | $32,805 | $41,179 | 11.1 years |
| 20 kW | $2.55 | $35,658 | $46,547 | 10.8 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Norway, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- 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 like a system part breaking or the company going out of business.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
- 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 most likely has a solid reputation and is qualified to do the job well. Another way you can check your installer's reputation is by reading reviews.
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 Norway, ME Solar Cost FAQs
How much does it cost to install solar panels in Norway?
This is a hard question to answer precisely, 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. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Norway?
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 home 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 switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses 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 house 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.