Solar Panel Cost Guide in Skowhegan, ME (2024 Update)
- Skowhegan Solar Installation Cost: $15,117
- 25-Year Savings: $11,377
- Payback Period: 16.7 Years
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Average Cost of Solar Panels in Skowhegan
Let’s have a look at the average cost of solar panels in Skowhegan.
The national average cost of solar panels is $2.66 per watt, but in Skowhegan it’s 4 per watt.The average Skowhegan homeowner needs a 5.7-kilowatt system, which would cost about $15,117 with the federal tax credit, or $21,617 before the 0 tax credit is applied.
The true price you pay can be higher or lower than the average in Skowhegan based on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire.But, once you've paid the initial cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $15,000 over 20 years on electricity bills.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Skowhegan
| Year | Return on Investment |
|---|---|
| 1 years | $-13,979 |
| 3 years | $-11,702 |
| 5 years | $-9,426 |
| 7 years | $-7,149 |
| 9 years | $-4,873 |
| 11 years | $-2,596 |
| 13 years | $-320 |
| 15 years | $1,957 |
| 17 years | $4,233 |
| 19 years | $6,510 |
| 21 years | $8,786 |
| 23 years | $11,063 |
| 25 years | $13,339 |
Top Solar Installers in Skowhegan
Many homeowners opt for a solar installer since trying to install solar panels by yourself can be hard. The payback period on an investment in solar panels will vary depending on factors like your location and energy needs, but going with a solar company can shorten that period. Your provider will be able to help you apply for incentives available in your area.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Skowhegan
Factors that Affect Solar Panel Costs in Skowhegan
For many Skowhegan homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Skowhegan, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production use better technology and/or more equipment, both of which can increase 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. Generally speaking, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be far 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 Skowhegan to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices over time due to interest.You’ll have to consider the long-term cost of loans, 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar panel installer you pick will affect your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger 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 | $7,299 | 17.4 years |
| 8 kW | $3.88 | $21,706 | $10,157 | 17.0 years |
| 10 kW | $3.80 | $26,600 | $13,229 | 16.7 years |
| 12 kW | $3.72 | $31,282 | $16,513 | 16.4 years |
| 14 kW | $3.65 | $35,750 | $20,010 | 16.0 years |
| 16 kW | $3.57 | $40,006 | $23,719 | 15.7 years |
| 18 kW | $3.50 | $44,050 | $27,642 | 15.4 years |
| 20 kW | $3.42 | $47,880 | $31,777 | 15.0 years |
How to Save on Solar Panels
The company that does your solar system 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 a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Skowhegan, ME Solar Cost FAQs
What is the average cost of installing solar panels in Skowhegan?
The average cost of solar panels in Skowhegan 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Skowhegan?
Leasing solar panels can be an attractive choice, because it typically 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Is it worth going solar in Skowhegan?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Skowhegan?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.