Solar Panel Cost Guide in Portland, ME (Mar 2023)
- Portland Solar Installation Cost: $10,380
- 25-Year Savings: $12,255
- Payback Period: 11.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Portland
We break down average solar pricing in Portland.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Portland, the average cost of a solar system is 2.83 per watt. The average Portland homeowner needs a 5.2-kilowatt system, which would cost about $10,380 with the federal tax credit, or $14,843 before the 30% tax credit is applied.
The actual price you pay can be higher or lower than the average in Portland depending on a few factors, such as the brand of solar panels you choose and the solar contractor you hire. Many homeowners find adopting solar power is a sound investment. The average homeowner in Portland can save around $16,000 on their electricity bills over 20 years.
To get a free quote from a highly rated solar installer in Portland, you can click the button below.
Solar savings over time in Portland
| Year | Return on Investment |
|---|---|
| 1 years | $-9,475 |
| 3 years | $-7,664 |
| 5 years | $-5,853 |
| 7 years | $-4,043 |
| 9 years | $-2,232 |
| 11 years | $-421 |
| 13 years | $1,390 |
| 15 years | $3,201 |
| 17 years | $5,011 |
| 19 years | $6,822 |
| 21 years | $8,633 |
| 23 years | $10,444 |
| 25 years | $12,255 |
Top Solar Installers in Portland
Many homeowners opt for a solar installer since figuring out how to install solar panels yourself can be time-consuming. Companies can also have access to quality options of the best solar panels and help you decide which one will be best for you.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
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 Portland
Factors that Affect Solar Panel Costs in Portland
Although the average cost of a solar system in Portland is $10,380, your final cost may differ. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Portland, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $2,830 for each additional kilowatt you need. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Portland average.
Solar Financing Terms
Many homeowners find the average cost of solar in Portland to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time due to interest. You'll have to consider the long-term cost of financing options, including the total 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 original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Portland is the company you hire to install your PV system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that offer a range of services for different budgets. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and choose a company that has the products, warranties and services you're looking for and also is within your budget.
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 | $13,538 | 11.9 years |
| 8 kW | $2.89 | $16,165 | $18,367 | 11.7 years |
| 10 kW | $2.83 | $19,810 | $23,355 | 11.5 years |
| 12 kW | $2.77 | $23,297 | $28,502 | 11.2 years |
| 14 kW | $2.72 | $26,625 | $33,807 | 11.0 years |
| 16 kW | $2.66 | $29,794 | $39,270 | 10.8 years |
| 18 kW | $2.60 | $32,805 | $44,892 | 10.6 years |
| 20 kW | $2.55 | $35,658 | $50,673 | 10.3 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar company, be sure to read it through fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Different companies have different brands and models of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
- 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 that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Installation Process: When going solar, it's essential to maintain an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the completion timeline.
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 Portland, ME Solar Cost FAQs
What is the average cost of installing solar panels in Portland?
This is a tough question to answer precisely, 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 be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Do solar panels increase your property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Portland is currently $298,316, so you can expect a value of about $12,231 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Portland is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a 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.