Solar Panel Cost Guide in Rumford, ME (2023 Update)
- Rumford Solar Installation Cost: $10,915
- 25-Year Savings: $11,720
- Payback Period: 12.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Rumford
Here's how much it might cost to install solar panels in Rumford.
The national average cost of solar panels is $2.66 per watt, but in Rumford it's 2.83 per watt. The average Rumford homeowner needs a 5.5-kilowatt system, which would cost about $10,915 with the federal tax credit, or $15,608 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Rumford 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 power bills over 20 years, many homeowners in Rumford find investing in solar can be quite rewarding.
Click the button below to get connected to a top solar installer in Rumford for a customized estimate.
Solar savings over time in Rumford
| Year | Return on Investment |
|---|---|
| 1 years | $-10,010 |
| 3 years | $-8,199 |
| 5 years | $-6,388 |
| 7 years | $-4,578 |
| 9 years | $-2,767 |
| 11 years | $-956 |
| 13 years | $855 |
| 15 years | $2,666 |
| 17 years | $4,476 |
| 19 years | $6,287 |
| 21 years | $8,098 |
| 23 years | $9,909 |
| 25 years | $11,720 |
Top Solar Installers in Rumford
Installing solar panels yourself can be a challenging project, which is why using a solar installer is a good option for many homeowners. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you'd like to start using solar energy but still aren't sure which solar company to go with, here are our recommendations for providers in Rumford:
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 Rumford
Factors that Affect Solar Panel Costs in Rumford
For many Rumford homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Rumford, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in Rumford, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can gauge by looking at past power bills. Your overall cost can increase by about $2,830 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Rumford, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Rumford provide solar loans, which reduce your upfront costs of installing solar panels. 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 finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you hire to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in Rumford, and each can charge different amounts for labor and equipment. The company's size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $12,300 | 12.5 years |
| 8 kW | $2.89 | $16,165 | $16,717 | 12.3 years |
| 10 kW | $2.83 | $19,810 | $21,292 | 12.0 years |
| 12 kW | $2.77 | $23,297 | $26,026 | 11.8 years |
| 14 kW | $2.72 | $26,625 | $30,919 | 11.6 years |
| 16 kW | $2.66 | $29,794 | $35,969 | 11.3 years |
| 18 kW | $2.60 | $32,805 | $41,179 | 11.1 years |
| 20 kW | $2.55 | $35,658 | $46,547 | 10.8 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose greatly affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Different companies have different brands and types of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
- Installation Process: Make sure you're aligned with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- 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 previous customers.
- Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
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 Rumford, ME Solar Cost FAQs
What is the average cost of installing solar panels in Rumford?
The average cost of solar panels in Rumford is about $14,150 for a 5-kW system and $28,300 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Rumford?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future energy bills.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.