Solar Panel Cost Guide in South Portland, ME (Mar 2023)
- South Portland Solar Installation Cost: $10,380
- 25-Year Savings: $12,255
- Payback Period: 11.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in South Portland
We break down average solar pricing in South Portland.
Currently, the national average cost of solar panels is $2.66 per watt. However, in South Portland, the typical cost of a solar system is 2.83 per watt. The average South Portland homeowner needs a 5.2-kilowatt system, which would cost about $10,380 with the federal tax credit, or $14,843 before the 30% tax credit is applied.
The true price you pay can go above or below the average in South Portland based on several factors, such as the type of solar panels you choose and the solar installer you hire. For most homeowners, the upfront investment in solar is worth paying. On average South Portland homeowners see about $16,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a reputable solar installer in South Portland for a customized estimate.
Solar savings over time in South Portland
| Year | Return on Investment |
|---|---|
| 1 years | $-9,475 |
| 3 years | $-7,664 |
| 5 years | $-5,853 |
| 7 years | $-4,043 |
| 9 years | $-2,232 |
| 11 years | $-421 |
| 13 years | $1,390 |
| 15 years | $3,201 |
| 17 years | $5,011 |
| 19 years | $6,822 |
| 21 years | $8,633 |
| 23 years | $10,444 |
| 25 years | $12,255 |
Top Solar Installers in South Portland
Putting up solar panels by yourself can be a stressful project, which is why hiring a solar installer is a good option for many homeowners. A solar company can also help save you money over time by offering warranties, repairs and part replacements.
There are various 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 South Portland
Factors that Affect Solar Panel Costs in South Portland
There are several criteria that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation 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 $2,830. Some solar panel 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
Many homeowners find the average cost of solar in South Portland to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. However, the interest on solar loans also increases your all-in costs, so it's crucial to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can impact your pricing. South Portland's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in South Portland are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $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 a large number of companies available in South Portland, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When looking over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Installation Process: Make sure you're on the same page with the company with regard to how the installation process will go and what you need to do before your solar system is installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
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
How much does it cost to install 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 things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in South Portland?
Leasing solar panels can be an appealing choice, as it commonly 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.
Does South Portland have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to 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.