Solar Panel Cost Guide in Topsham, ME (2023 Update)
- Topsham Solar Installation Cost: $10,420
- 25-Year Savings: $12,215
- Payback Period: 11.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Topsham
Find out how much it might cost to go solar in Topsham.
The average cost of solar panels in Topsham is 2.83 per watt. Using this figure, a typical 5.3-kW system would cost about $10,420 before the 30% federal solar tax credit is applied.
The true cost of your system can go above or below the average in Topsham depending on several factors, such as the type of solar panels you choose and the solar installer you hire. With typical savings of about $16,000 on power bills over 20 years, many homeowners in Topsham find investing in solar has a decent ROI.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Topsham
| Year | Return on Investment |
|---|---|
| 1 years | $-9,515 |
| 3 years | $-7,704 |
| 5 years | $-5,893 |
| 7 years | $-4,082 |
| 9 years | $-2,271 |
| 11 years | $-461 |
| 13 years | $1,350 |
| 15 years | $3,161 |
| 17 years | $4,972 |
| 19 years | $6,783 |
| 21 years | $8,593 |
| 23 years | $10,404 |
| 25 years | $12,215 |
Top Solar Installers in Topsham
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar company can make swapping over to solar power much easier. Also, companies with a good reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you're searching for a solar company in Topsham, we've put together a list of our top suggestions here:
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 Topsham
Factors that Affect Solar Panel Costs in Topsham
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 few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production use 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. There are many different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are offered by most installers in Topsham, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. Though solar loans make adopting solar energy more accessible for Topsham 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 avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Topsham is the company you get to install your PV system. As with choosing a company to install new cabinets, for instance, you'll have no shortage of solar installers that provide a range of services for different budgets. Additionally, some companies in Topsham know more about local solar incentives and can help you learn about 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 | $13,458 | 12.0 years |
| 8 kW | $2.89 | $16,165 | $18,260 | 11.7 years |
| 10 kW | $2.83 | $19,810 | $23,222 | 11.5 years |
| 12 kW | $2.77 | $23,297 | $28,342 | 11.3 years |
| 14 kW | $2.72 | $26,625 | $33,620 | 11.0 years |
| 16 kW | $2.66 | $29,794 | $39,057 | 10.8 years |
| 18 kW | $2.60 | $32,805 | $44,652 | 10.6 years |
| 20 kW | $2.55 | $35,658 | $50,406 | 10.4 years |
How to Save on Solar Panels
There are numerous companies available in Topsham, 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:
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
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 Topsham, ME Solar Cost FAQs
What is the average cost of installing solar panels in Topsham?
The average cost of solar panels in Topsham 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Topsham?
A solar panel system isn't free in Topsham, 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 you can take advantage of.
Can you sell solar power back to the grid in Topsham?
Each state has some kind 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 power bills.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.