Solar Panel Cost Guide in Orono, ME (2024 Update)
- Orono Solar Installation Cost: $14,992
- 25-Year Savings: $13,013
- Payback Period: 15.5 Years
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Average Cost of Solar Panels in Orono
Find out what the average cost of solar panels are in Orono.
The national average cost of solar panels is $2.66 per watt, but in Orono it’s 4 per watt.To account for the typical energy usage of the average home in Orono, most homeowners require a 5.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $14,992, or $21,439 before the federal solar tax credit of 0 is applied.
How much you pay can be higher or lower than the average in Orono based on several factors, such as the brand of solar panels you choose and the solar contractor you hire.For many homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $16,000 in savings on electricity bills over 20 years.
To receive a free quote from a top solar installation company in Orono, you can click the button below.
Solar savings over time in Orono
| Year | Return on Investment |
|---|---|
| 1 years | $-13,961 |
| 3 years | $-11,900 |
| 5 years | $-9,839 |
| 7 years | $-7,778 |
| 9 years | $-5,716 |
| 11 years | $-3,655 |
| 13 years | $-1,594 |
| 15 years | $467 |
| 17 years | $2,529 |
| 19 years | $4,590 |
| 21 years | $6,651 |
| 23 years | $8,712 |
| 25 years | $10,774 |
Top Solar Installers in Orono
Many homeowners opt for a solar installer since installing solar panels on your own can be a lot of work. Plus, if you’re not certain what brand of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you’d like to make the switch to solar but still aren’t certain which solar system company to go with, here are our suggestions for providers nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Orono
Factors that Affect Solar Panel Costs in Orono
Although the average cost of a solar system in Orono is $14,992, your final cost may be above or below the average. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Orono, 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 consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by about $3,800 for each additional kilowatt you need.There are several different solar panel brands and the one you choose also affects the cost. In many cases, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Orono homeowners choose to finance their solar panel systems to make going 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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installer you select will affect your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Orono 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 help you save 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 | $3.95 | $16,598 | $9,141 | 16.1 years |
| 8 kW | $3.88 | $21,706 | $12,614 | 15.8 years |
| 10 kW | $3.80 | $26,600 | $16,299 | 15.5 years |
| 12 kW | $3.72 | $31,282 | $20,197 | 15.2 years |
| 14 kW | $3.65 | $35,750 | $24,308 | 14.9 years |
| 16 kW | $3.57 | $40,006 | $28,632 | 14.6 years |
| 18 kW | $3.50 | $44,050 | $33,169 | 14.3 years |
| 20 kW | $3.42 | $47,880 | $37,918 | 14.0 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Solar Panel Brands: The kind of solar panel you want to get plays a role in which installer you should choose, since different companies have access to different panels.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Orono, ME Solar Cost FAQs
What is the average cost of installing solar panels in Orono?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly 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 other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Does Orono have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.