Solar Panel Cost Guide in Saco, ME (2023 Update)
- Saco Solar Installation Cost: $10,230
- 25-Year Savings: $12,405
- Payback Period: 11.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Saco
Let's have a look at the average cost of solar panels in Saco.
While the national average of solar panels is $2.66 per watt, solar panels in Saco typically cost about 2.83. The average Saco homeowner needs a 5.2-kilowatt system, which would cost about $10,222 with the federal tax credit, or $14,617 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Saco homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Even with the significant upfront cost, the average Saco homeowner can save around $17,000 on their electricity bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a vetted solar company in Saco that can help you get a more accurate cost estimate for your home.
Solar savings over time in Saco
| Year | Return on Investment |
|---|---|
| 1 years | $-9,092 |
| 3 years | $-6,815 |
| 5 years | $-4,539 |
| 7 years | $-2,262 |
| 9 years | $14 |
| 11 years | $2,291 |
| 13 years | $4,567 |
| 15 years | $6,844 |
| 17 years | $9,120 |
| 19 years | $11,397 |
| 21 years | $13,673 |
| 23 years | $15,950 |
| 25 years | $18,226 |
Top Solar Installers in Saco
Although you can install solar panels yourself, it requires extra energy and handiness. Because of that, most people choose a solar panel installer. Another benefit of working with a solar installer is that they can help you make the most of your ROI by reducing your future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
If you'd like to switch to solar energy but still aren't certain which solar system installer to go with, here are our recommendations for providers 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 Saco
Factors that Affect Solar Panel Costs in Saco
Though the average cost of a solar system in Saco is $10,222, your actual cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $2,830 per kilowatt in Saco. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Saco, where sunlight is relatively abundant, efficiency can quickly pay off. Also, 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 Saco have solar loans, which reduce your upfront costs of installing solar panels. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The last major cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Saco, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. The company's size can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better 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 | $13,937 | 11.8 years |
| 8 kW | $2.89 | $16,165 | $18,900 | 11.5 years |
| 10 kW | $2.83 | $19,810 | $24,021 | 11.3 years |
| 12 kW | $2.77 | $23,297 | $29,301 | 11.1 years |
| 14 kW | $2.72 | $26,625 | $34,739 | 10.8 years |
| 16 kW | $2.66 | $29,794 | $40,335 | 10.6 years |
| 18 kW | $2.60 | $32,805 | $46,091 | 10.4 years |
| 20 kW | $2.55 | $35,658 | $52,004 | 10.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Different companies offer 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.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable 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 good reviews from previous customers.
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Saco, ME Solar Cost FAQs
How much does it cost to install solar panels in Saco?
The average cost of solar panels in Saco is about $14,150 for a 5-kW system and $28,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Saco?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can you sell solar power back to the grid in Saco?
Most states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future electricity 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 need to know 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 house 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.