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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

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 around $13,737, or $19,644 before the federal solar tax credit of 0 is applied.

Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of solar system you choose, your solar contractor and more.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $17,000 over 20 years on electricity bills.

To get a free quote from a highly rated solar company in Sanford, you can 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 you can install solar panels yourself, it requires extra labor and know-how. That's why almost all homeowners choose a solar panel installer. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives and by providing warranties and repairs.

If you're searching for a solar installer in Sanford, the EcoWatch team has compiled a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
3.2

  • 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

While the average cost of a solar system in Sanford is $13,737, your actual cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,800.There are a lot of different solar panel brands and the one you pick also changes the cost. Usually, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Many homeowners find the average cost of solar in Sanford to be too steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.However, the interest on solar loans also adds to your overall costs, so it’s vital to keep that in mind as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.

Solar Panel Installation Company

The final significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Sanford, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.The company’s size sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.

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 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. Since picking a company can be difficult, we have some tips to help you, such as:

  • Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
  • Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
  • Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
  • Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
3.2

  • 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

How much does it cost to install solar panels in Sanford?

This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $19,000 for a 5-kW system and $38,000 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.

Is it better to lease or buy solar panels in Sanford?

Leasing solar panels can be an appealing choice, as it usually 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 get the most savings.

How much can I save on energy bills after switching to solar?

It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Sanford, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can 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 buy between 20 and 35 panels to cover 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.

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