Solar Panel Cost Guide in Sanford, ME (2024 Update)
- Sanford Solar Installation Cost: $13,737
- 25-Year Savings: $14,720
- Payback Period: 14.9 Years
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Average Cost of Solar Panels in Sanford
Let’s have a look at the average cost of solar in Sanford.
The average cost of a solar system in Sanford is 4 per watt.To cover the typical energy needs of the average home in Sanford, most homeowners require a 5.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $13,737, or $19,644 before the federal solar tax credit of 0 is applied.
These figures are only estimates, and how much solar costs for you may vary based on factors unique to your home and what company you go with.Even with the high initial cost, the average Sanford homeowner can save about $17,000 on their energy bills over 20 years, which is one of the positives of solar.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Sanford
| Year | Return on Investment |
|---|---|
| 1 years | $-12,598 |
| 3 years | $-10,322 |
| 5 years | $-8,045 |
| 7 years | $-5,769 |
| 9 years | $-3,492 |
| 11 years | $-1,216 |
| 13 years | $1,061 |
| 15 years | $3,337 |
| 17 years | $5,614 |
| 19 years | $7,890 |
| 21 years | $10,167 |
| 23 years | $12,443 |
| 25 years | $14,720 |
Top Solar Installers in Sanford
Although it's possible to install solar panels yourself, it involves extra energy and expertise. That's one of the reasons almost all homeowners choose to go with a solar panel installer. The payback period on a solar system will vary based on factors like your location and energy needs, but working with a solar company can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
If you're searching for a solar company in Sanford, we've put together a list of our top suggestions here:
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 Sanford
Factors that Affect Solar Panel Costs in Sanford
For many Sanford homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Sanford, 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 cost of solar panels in Sanford, one of the most crucial 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 figure out by looking at past electricity bills. Your total cost can increase by around $3,800 for each additional kilowatt you need.The model of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to consider 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 falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Sanford homeowners opt to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also increases your all-in costs, so it’s crucial to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Sanford, and each can charge different amounts for labor and equipment.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 cost more. It’s best to do some research and go with the company that offers the products, warranties and services you want 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 | $3.95 | $16,598 | $10,142 | 15.5 years |
| 8 kW | $3.88 | $21,706 | $13,948 | 15.2 years |
| 10 kW | $3.80 | $26,600 | $17,967 | 14.9 years |
| 12 kW | $3.72 | $31,282 | $22,198 | 14.6 years |
| 14 kW | $3.65 | $35,750 | $26,643 | 14.3 years |
| 16 kW | $3.57 | $40,006 | $31,300 | 14.0 years |
| 18 kW | $3.50 | $44,050 | $36,170 | 13.7 years |
| 20 kW | $3.42 | $47,880 | $41,253 | 13.4 years |
How to Save on Solar Panels
The solar company you opt for will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, including:
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated 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 positive reviews from past customers.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
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 Sanford, ME Solar Cost FAQs
What is the average cost of installing solar panels in Sanford?
The average cost of solar panels in Sanford 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 such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Sanford?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The downside 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 option if you want to maximize your savings.
Can solar panels completely eradicate my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Sanford, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
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 requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.