Solar Panel Cost Guide in Standish, ME (2023 Update)
- Standish 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 Standish
Let's have a look at the average cost of solar in Standish.
While the national average of solar panels is $2.66 per watt, solar panels in Standish typically cost around 2.83. To cover the typical energy needs of the average home in Standish, most homeowners require a 5.2-kilowatt system. Using the figure above, a solar installation costs around $10,380, or $14,843 before the federal solar tax credit of 30% is applied.
These figures are just averages, and how much solar costs for you will vary based on factors unique to your home and what company you go with. Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Standish can save about $16,000 on their energy bills over 20 years.
To receive a free quote from a highly rated solar company in Standish, you can click the button below.
Solar savings over time in Standish
| Year | Return on Investment |
|---|---|
| 1 years | $-10,312 |
| 3 years | $-10,162 |
| 5 years | $-10,011 |
| 7 years | $-9,860 |
| 9 years | $-9,709 |
| 11 years | $-9,558 |
| 13 years | $-9,407 |
| 15 years | $-9,256 |
| 17 years | $-9,105 |
| 19 years | $-8,954 |
| 21 years | $-8,803 |
| 23 years | $-8,653 |
| 25 years | $-8,502 |
Top Solar Installers in Standish
Many homeowners opt for a solar installation company since trying to put up solar panels on your own can be a lot of work. Plus, if you're not certain what brand of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
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 Standish
Factors that Affect Solar Panel Costs in Standish
There are several factors that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need 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. 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 power bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Standish average.
Solar Financing Terms
Most solar companies in Standish provide solar loans, which reduce your upfront costs of installing a solar system. Though solar loans make adopting solar energy more accessible for Standish homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Standish, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Standish 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 help you save 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
The solar panel company you choose will be a major factor in determining not only your total 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 take into account, such as:
- Installation Process: When making the switch to solar energy, it's crucial to maintain an open line of communication with your solar installer. See to it that you understand how the installation process will go and the project completion timeline.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Solar Panel Brands: The brand of solar panel you'd like plays a part in which installer you should choose, since different companies provide different panels.
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 Standish, ME Solar Cost FAQs
How much does it cost to install solar panels in Standish?
This is a hard 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 extra solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Standish?
Leasing solar panels can be an appealing choice, as it often 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 get the most savings.
How will installing solar panels impact my home value?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't choose 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."
How often do you have to replace solar panels?
Even 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 their energy production will have decreased significantly after that point. You can decide 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.