Solar Panel Cost Guide in Oakland, ME (2023 Update)
- Oakland Solar Installation Cost: $10,800
- 25-Year Savings: $11,835
- Payback Period: 11.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Oakland
Find out what the average cost of a solar system is in Oakland.
While the national average of solar panels is $2.66 per watt, solar panels in Oakland generally cost about 2.83. Since a 5.5-kW system is needed to cover the energy usage of a typical home in Oakland, the average price of going solar will be about $10,796 after claiming the federal solar tax credit of 30%.
These figures are just estimates, and how much solar costs for you will look different based on factors unique to your home and what company you go with. For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Oakland see about $16,000 in savings on utility bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Oakland
| Year | Return on Investment |
|---|---|
| 1 years | $-10,725 |
| 3 years | $-10,574 |
| 5 years | $-10,423 |
| 7 years | $-10,272 |
| 9 years | $-10,121 |
| 11 years | $-9,970 |
| 13 years | $-9,819 |
| 15 years | $-9,668 |
| 17 years | $-9,517 |
| 19 years | $-9,366 |
| 21 years | $-9,216 |
| 23 years | $-9,065 |
| 25 years | $-8,914 |
Top Solar Installers in Oakland
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Taking advantage of an installer can make your switch to solar power much easier. Plus, if you aren't sure what brand of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
If you're searching for a solar installer in Oakland, the EcoWatch team has compiled 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 Oakland
Factors that Affect Solar Panel Costs in Oakland
Though the average cost of a solar system in Oakland is $10,796, your actual cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Oakland, one of the most crucial 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 consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by about $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. However, more efficient panels could save you more over time on your power bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Oakland average.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Oakland homeowners decide to finance their solar panel systems to make going solar more affordable. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Oakland is the company you get to install your PV system. As with choosing a company to install new cabinets, for example, there's no shortage of solar installers that provide a range of services for different budgets. The company's size sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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 | $12,549 | 12.4 years |
| 8 kW | $2.89 | $16,165 | $17,050 | 12.2 years |
| 10 kW | $2.83 | $19,810 | $21,708 | 11.9 years |
| 12 kW | $2.77 | $23,297 | $26,525 | 11.7 years |
| 14 kW | $2.72 | $26,625 | $31,501 | 11.5 years |
| 16 kW | $2.66 | $29,794 | $36,635 | 11.2 years |
| 18 kW | $2.60 | $32,805 | $41,927 | 11.0 years |
| 20 kW | $2.55 | $35,658 | $47,378 | 10.7 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of options before making your decision.
- 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 your solar system's energy production.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Oakland, ME Solar Cost FAQs
How much does it cost to install solar panels in Oakland?
This is a hard question to answer exactly, because the cost depends on a variety of 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. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Oakland?
Leasing solar panels can be an attractive 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
How much can I save on power bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Oakland, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Oakland?
On average, the lifespan of solar panels is 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.