Solar Panel Cost Guide in Waterboro, ME (2024 Update)
- Waterboro Solar Installation Cost: $13,737
- 25-Year Savings: $12,405
- Payback Period: 15.2 Years
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Average Cost of Solar Panels in Waterboro
See how much it might cost to go solar in Waterboro.
In Waterboro, solar panels cost about 4 per watt on average.Using this figure, a typical 5.2-kW system would cost about $13,737 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Waterboro homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $17,000 on utility bills over 20 years, many homeowners in Waterboro find going solar can be quite rewarding.
To get a free estimate from a top solar installation company in Waterboro, you can click the button below.
Solar savings over time in Waterboro
| Year | Return on Investment |
|---|---|
| 1 years | $-12,598 |
| 3 years | $-10,322 |
| 5 years | $-8,045 |
| 7 years | $-5,769 |
| 9 years | $-3,492 |
| 11 years | $-1,216 |
| 13 years | $1,061 |
| 15 years | $3,337 |
| 17 years | $5,614 |
| 19 years | $7,890 |
| 21 years | $10,167 |
| 23 years | $12,443 |
| 25 years | $14,720 |
Top Solar Installers in Waterboro
Many homeowners choose to use a solar installer since installing solar panels yourself can be a labor-intensive endeavor. Some solar installers, especially local ones, can help you make the most of incentives in Waterboro, optimizing your ROI.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Waterboro
Factors that Affect Solar Panel Costs in Waterboro
There are many criteria that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $3,800 per kilowatt in Waterboro.The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Waterboro homeowners decide to finance their solar panel systems to make going solar more affordable.Though solar loans make adopting solar energy more accessible for Waterboro homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Waterboro is the company you choose to install your PV system. Similar to choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that provide a range of services for different budgets.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.95 | $16,598 | $9,700 | 15.8 years |
| 8 kW | $3.88 | $21,706 | $13,359 | 15.5 years |
| 10 kW | $3.80 | $26,600 | $17,231 | 15.2 years |
| 12 kW | $3.72 | $31,282 | $21,316 | 14.9 years |
| 14 kW | $3.65 | $35,750 | $25,613 | 14.6 years |
| 16 kW | $3.57 | $40,006 | $30,123 | 14.3 years |
| 18 kW | $3.50 | $44,050 | $34,846 | 14.0 years |
| 20 kW | $3.42 | $47,880 | $39,782 | 13.7 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose greatly influences your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases offer good-quality solar panel installation and expertise.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Waterboro, ME Solar Cost FAQs
What is the average cost of installing solar panels in Waterboro?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $19,000 for a 5-kW system and $38,000 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Waterboro?
A solar panel system isn’t free in Waterboro, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $876.62 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a 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 get 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.