Solar Panel Cost Guide in Scarborough, ME (2024 Update)
- Scarborough Solar Installation Cost: $13,948
- 25-Year Savings: $14,508
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in Scarborough
See how much it might cost to install solar panels in Scarborough.
The national average cost of solar panels is $2.66 per watt, but in Scarborough it’s 4 per watt.Since a 5.2-kW system is needed to cover the energy needs of a typical home in Scarborough, the average price of going solar will be about $13,948 after claiming the federal solar tax credit of 0.
Keep in mind 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 equipment you want to get, your solar contractor and more.Despite the large initial cost, the average Scarborough homeowner can save around $16,000 on their electricity bills over 20 years, which is one of the advantages of solar.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Scarborough
| Year | Return on Investment |
|---|---|
| 1 years | $-12,810 |
| 3 years | $-10,534 |
| 5 years | $-8,257 |
| 7 years | $-5,981 |
| 9 years | $-3,704 |
| 11 years | $-1,428 |
| 13 years | $849 |
| 15 years | $3,125 |
| 17 years | $5,402 |
| 19 years | $7,678 |
| 21 years | $9,955 |
| 23 years | $12,231 |
| 25 years | $14,508 |
Top Solar Installers in Scarborough
Although it's possible to install solar panels by yourself, it requires extra labor and knowledge. Because of that, almost all homeowners choose to hire a solar panel installer. Plus, if you aren’t sure what type of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
See all of the solar companies in Scarborough
Factors that Affect Solar Panel Costs in Scarborough
There are many criteria that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Scarborough average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are provided by most installers in Scarborough, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies in Scarborough, and each can charge different amounts for labor and equipment.Additionally, some companies in Scarborough have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $9,301 | 16.0 years |
| 8 kW | $3.88 | $21,706 | $12,827 | 15.7 years |
| 10 kW | $3.80 | $26,600 | $16,565 | 15.4 years |
| 12 kW | $3.72 | $31,282 | $20,517 | 15.1 years |
| 14 kW | $3.65 | $35,750 | $24,681 | 14.8 years |
| 16 kW | $3.57 | $40,006 | $29,058 | 14.5 years |
| 18 kW | $3.50 | $44,050 | $33,648 | 14.2 years |
| 20 kW | $3.42 | $47,880 | $38,451 | 13.9 years |
How to Save on Solar Panels
The solar company you go with will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before making your decision.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Contract: When looking through your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
EcoWatch's Scarborough, ME Solar Cost FAQs
What is the average cost of installing solar panels in Scarborough?
The average cost of solar panels in Scarborough is about $19,000 for a 5-kW system and $38,000 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 Scarborough?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Do solar panels increase how much your home is worth?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
What solar power system size is right for my home?
To figure out what solar panel system size 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 generally 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.