Solar Panel Cost Guide in South Portland, ME (2023 Update)
- South Portland Solar Installation Cost: $10,388
- 25-Year Savings: $12,247
- Payback Period: 11.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in South Portland
Let's take a look at the average cost of solar panels in South Portland.
Currently, the national average cost of solar panels is $2.66 per watt. However, in South Portland, the typical cost of solar panels is 2.83 per watt. Using this figure, a typical 5.2-kW system would cost about $10,380 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of installing solar panels can vary quite a bit depending on a few factors, such as how many panels you need, your energy consumption and what company you go with. For most homeowners, the upfront investment in solar power is worth paying. On average South Portland homeowners see about $16,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in South Portland for a quote for your home.
Solar savings over time in South Portland
| Year | Return on Investment |
|---|---|
| 1 years | $-9,250 |
| 3 years | $-6,973 |
| 5 years | $-4,697 |
| 7 years | $-2,420 |
| 9 years | $-144 |
| 11 years | $2,133 |
| 13 years | $4,409 |
| 15 years | $6,686 |
| 17 years | $8,962 |
| 19 years | $11,239 |
| 21 years | $13,515 |
| 23 years | $15,792 |
| 25 years | $18,068 |
Top Solar Installers in South Portland
Many homeowners opt for a solar installer since trying to put up solar panels on your own can be challenging. Plus, if you're unsure what type of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some nearby:
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 South Portland
Factors that Affect Solar Panel Costs in South Portland
For many South Portland homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in South Portland, 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
When it comes to estimating the price of solar panels in South Portland, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by about $2,830 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like South Portland, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in South Portland, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. While solar loans make adopting solar energy more accessible for South Portland homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you choose to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating in South Portland, and each can charge varying amounts for labor and equipment. Some companies 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 decide on the company that has the products, warranties and services you're looking for and also fit into 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 | $2.94 | $12,361 | $13,538 | 11.9 years |
| 8 kW | $2.89 | $16,165 | $18,367 | 11.7 years |
| 10 kW | $2.83 | $19,810 | $23,355 | 11.5 years |
| 12 kW | $2.77 | $23,297 | $28,502 | 11.2 years |
| 14 kW | $2.72 | $26,625 | $33,807 | 11.0 years |
| 16 kW | $2.66 | $29,794 | $39,270 | 10.8 years |
| 18 kW | $2.60 | $32,805 | $44,892 | 10.6 years |
| 20 kW | $2.55 | $35,658 | $50,673 | 10.3 years |
How to Save on Solar Panels
There are many companies available in South Portland, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
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 South Portland, ME Solar Cost FAQs
What is the average cost of installing solar panels in South Portland?
The average cost of solar panels in South Portland is about $14,150 for a 5-kW system and $28,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in South Portland?
Solar panels aren't free in South Portland, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How will having solar panels impact the value of my home?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't go 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 a solar system."
How long do solar panels last in South Portland?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.