Solar Panel Cost Guide in Oxford, ME (2024 Update)
- Oxford Solar Installation Cost: $14,648
- 25-Year Savings: $11,726
- Payback Period: 16.2 Years
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Average Cost of Solar Panels in Oxford
Find out what the average cost of installing solar panels is in Oxford.
Although the national average of solar panels is $2.66 per watt, solar panels in Oxford generally cost about 4.The average solar panel system size in Oxford is around 5.5 kilowatts, meaning a cost of about $14,648 for a solar installation, or $20,947 before the 0 federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you will most likely look different based on factors unique to your home and what company you want to go with.Many homeowners find going solar is a sound investment. The average homeowner in Oxford can save about $16,000 on their electricity bills over 20 years.
Click the button below to get connected to a vetted solar installer in your area for a custom estimate.
Solar savings over time in Oxford
| Year | Return on Investment |
|---|---|
| 1 years | $-13,510 |
| 3 years | $-11,234 |
| 5 years | $-8,957 |
| 7 years | $-6,681 |
| 9 years | $-4,404 |
| 11 years | $-2,128 |
| 13 years | $149 |
| 15 years | $2,425 |
| 17 years | $4,702 |
| 19 years | $6,978 |
| 21 years | $9,255 |
| 23 years | $11,531 |
| 25 years | $13,808 |
Top Solar Installers in Oxford
Many homeowners decide to hire a solar installation company since trying to install solar panels yourself can be time-consuming. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you're on the hunt for a solar installer in Oxford, we've compiled a list of our top suggestions here:
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 Oxford
Factors that Affect Solar Panel Costs in Oxford
For many Oxford homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Oxford, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,800.The kind of solar panels and equipment you get is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Oxford homeowners choose to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also adds to your overall costs, so it’s important to keep that in mind as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the growing popularity of green energy solutions in Oxford, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Oxford have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $3.95 | $16,598 | $8,063 | 16.8 years |
| 8 kW | $3.88 | $21,706 | $11,176 | 16.5 years |
| 10 kW | $3.80 | $26,600 | $14,502 | 16.2 years |
| 12 kW | $3.72 | $31,282 | $18,041 | 15.9 years |
| 14 kW | $3.65 | $35,750 | $21,793 | 15.5 years |
| 16 kW | $3.57 | $40,006 | $25,757 | 15.2 years |
| 18 kW | $3.50 | $44,050 | $29,935 | 14.9 years |
| 20 kW | $3.42 | $47,880 | $34,325 | 14.6 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. Because picking a company can be difficult, we have some tips to help you, such as:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: The kind of solar panel you’d like plays a role in which installer you should choose, since different companies provide different panels.
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 Oxford, ME Solar Cost FAQs
What is the average cost of installing solar panels in Oxford?
The average cost of solar panels in Oxford 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.
Is cost the most important consideration 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.
Is it worth going solar in Oxford?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Oxford?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.