Solar Panel Cost Guide in Oakland, ME (2024 Update)
- Oakland Solar Installation Cost: $14,502
- 25-Year Savings: $11,835
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Oakland
Let’s have a look at the average cost of solar panels in Oakland.
The national average cost of solar panels is $2.66 per watt, but in Oakland it’s 4 per watt.Using this figure, a typical 5.5-kW system would cost about $14,502 before the 0 federal solar tax credit is applied.
These figures are only estimates, and the cost of going solar for you will most likely differ based on factors unique to your home and what company you go with.With typical savings of about $16,000 on energy bills over 20 years, many homeowners in Oakland find investing in solar can pay off big.
You can click the button below to get connected with a vetted solar company in Oakland for a quote for your home.
Solar savings over time in Oakland
| Year | Return on Investment |
|---|---|
| 1 years | $-13,364 |
| 3 years | $-11,087 |
| 5 years | $-8,811 |
| 7 years | $-6,534 |
| 9 years | $-4,258 |
| 11 years | $-1,981 |
| 13 years | $295 |
| 15 years | $2,572 |
| 17 years | $4,848 |
| 19 years | $7,125 |
| 21 years | $9,401 |
| 23 years | $11,678 |
| 25 years | $13,954 |
Top Solar Installers in Oakland
Many homeowners opt for a solar panel company since trying to install solar panels yourself can be challenging. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
See all of the solar companies in Oakland
Factors that Affect Solar Panel Costs in Oakland
For many Oakland homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Oakland, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.The brand and kind of equipment you want 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 a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Oakland homeowners opt to finance their solar panel systems to offset upfront costs.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can influence your pricing. Oakland’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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 | $3.95 | $16,598 | $8,312 | 16.7 years |
| 8 kW | $3.88 | $21,706 | $11,509 | 16.3 years |
| 10 kW | $3.80 | $26,600 | $14,918 | 16.0 years |
| 12 kW | $3.72 | $31,282 | $18,540 | 15.7 years |
| 14 kW | $3.65 | $35,750 | $22,375 | 15.4 years |
| 16 kW | $3.57 | $40,006 | $26,423 | 15.1 years |
| 18 kW | $3.50 | $44,050 | $30,683 | 14.7 years |
| 20 kW | $3.42 | $47,880 | $35,156 | 14.4 years |
How to Save on Solar Panels
There are many companies to choose from in Oakland, 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:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Read the contract terms thoroughly to make sure you understand the total cost, project completion timeline rebates and warranties.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
EcoWatch's Oakland, ME Solar Cost FAQs
What is the average cost of installing solar panels in Oakland?
The average cost of solar panels in Oakland is about $19,000 for a 5-kW system and $38,000 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Oakland is currently $310,057, so you can expect a value of about $12,712 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Oakland is a fruitful investment.
How many solar panels should I get to power 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 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.