Solar Panel Cost Guide in Old Town, ME (2023 Update)
- Old Town Solar Installation Cost: $11,165
- 25-Year Savings: $12,793
- Payback Period: 11.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Old Town
Find out what the average cost of installing solar panels is in Old Town.
Although the national average of solar panels is $2.66 per watt, solar panels in Old Town generally cost about 2.83. Because a 5.6-kW system is needed to cover the energy usage of a typical home in Old Town, the average price of going solar will be about $11,173 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average Old Town homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. With average savings of about $16,000 on electricity bills over 20 years, many homeowners in Old Town find installing solar panels has a decent ROI.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Old Town
| Year | Return on Investment |
|---|---|
| 1 years | $-11,085 |
| 3 years | $-10,926 |
| 5 years | $-10,766 |
| 7 years | $-10,606 |
| 9 years | $-10,446 |
| 11 years | $-10,287 |
| 13 years | $-10,127 |
| 15 years | $-9,967 |
| 17 years | $-9,808 |
| 19 years | $-9,648 |
| 21 years | $-9,488 |
| 23 years | $-9,328 |
| 25 years | $-9,169 |
Top Solar Installers in Old Town
When going solar, many homeowners choose to use a solar installer since putting up solar panels yourself can be a challenging project. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you'd like to make the switch to solar but still aren't sure which solar installer to go with, here are our suggestions 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 Old Town
Factors that Affect Solar Panel Costs in Old Town
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that will push your cost above or below the average in Old Town: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Old Town, where sunlight isn't as abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Old Town, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. While solar loans make adopting solar energy more accessible for Old Town homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you choose will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Old Town have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $13,143 | 12.1 years |
| 8 kW | $2.89 | $16,165 | $17,841 | 11.9 years |
| 10 kW | $2.83 | $19,810 | $22,698 | 11.7 years |
| 12 kW | $2.77 | $23,297 | $27,713 | 11.4 years |
| 14 kW | $2.72 | $26,625 | $32,886 | 11.2 years |
| 16 kW | $2.66 | $29,794 | $38,218 | 11.0 years |
| 18 kW | $2.60 | $32,805 | $43,709 | 10.7 years |
| 20 kW | $2.55 | $35,658 | $49,358 | 10.5 years |
How to Save on Solar Panels
The solar company you go with will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two 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 satisfied reviews from past customers.
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 Old Town, ME Solar Cost FAQs
How much does it cost to install solar panels in Old Town?
This is a tough question to answer exactly, because the cost depends on a few different 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Are solar panels free in Old Town?
A solar panel system isn't free in Old Town, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can solar panels significantly reduce my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Old Town, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs 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 household 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.