Solar Panel Cost Guide in Skowhegan, ME (2023 Update)
- Skowhegan Solar Installation Cost: $11,252
- 25-Year Savings: $11,383
- Payback Period: 12.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Skowhegan
Here's how much it might cost to make the switch to solar in Skowhegan.
In Skowhegan, solar panels cost about 2.83 per watt on average. The average solar panel system size in Skowhegan is around 5.7 kilowatts, meaning a cost of about $11,252 for a solar installation, or $16,090 before the 30% federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Skowhegan depending on a few factors, such as the type of solar panels you choose and the solar company you hire. With average savings of about $15,000 on energy bills over 20 years, many homeowners in Skowhegan find investing in solar can pay off big.
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 Skowhegan
| Year | Return on Investment |
|---|---|
| 1 years | $-10,347 |
| 3 years | $-8,536 |
| 5 years | $-6,725 |
| 7 years | $-4,914 |
| 9 years | $-3,103 |
| 11 years | $-1,293 |
| 13 years | $518 |
| 15 years | $2,329 |
| 17 years | $4,140 |
| 19 years | $5,951 |
| 21 years | $7,761 |
| 23 years | $9,572 |
| 25 years | $11,383 |
Top Solar Installers in Skowhegan
Although it's possible to install solar panels yourself, it takes extra energy and handiness. That's one of the reasons almost all homeowners choose to go with a solar panel installer. A solar installer can also help save you money in the long run by providing warranties, repairs and system component replacements.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
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
The cost of installing a solar system in Skowhegan can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,830. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Skowhegan have solar loans, which reduce the initial cost of installing solar. While solar loans make switching to solar energy more accessible for Skowhegan homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can affect your pricing. Skowhegan's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $11,536 | 12.9 years |
| 8 kW | $2.89 | $16,165 | $15,698 | 12.7 years |
| 10 kW | $2.83 | $19,810 | $20,019 | 12.4 years |
| 12 kW | $2.77 | $23,297 | $24,498 | 12.2 years |
| 14 kW | $2.72 | $26,625 | $29,135 | 11.9 years |
| 16 kW | $2.66 | $29,794 | $33,932 | 11.7 years |
| 18 kW | $2.60 | $32,805 | $38,886 | 11.4 years |
| 20 kW | $2.55 | $35,658 | $43,999 | 11.2 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: When looking through your solar installer'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 if the company goes out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which type 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 making your decision.
- Warranty: Many companies offer different types 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
How much does it cost to install solar panels in Skowhegan?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $14,150 for a 5-kW system and $28,300 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How will installing solar panels impact my home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Skowhegan is currently $124,100, which means you can expect a value of about $5,088 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Skowhegan is a rewarding investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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 account for 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.