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

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated May 20, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Waterboro

See how much it might cost to go solar in Waterboro.

Although the national average of solar panels is $2.66 per watt, solar panels in Waterboro generally cost about 4.To account for the typical energy usage of the average home in Waterboro, most homeowners require a 5.2-kilowatt system. Using the figure above, a solar installation costs around $13,737, or $19,644 before the federal solar tax credit of 0 is applied.

The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of making the switch to solar can vary depending on several factors, such as how many panels you need, your energy consumption and what solar installer you go with.For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Waterboro see about $17,000 in savings on utility bills over 20 years.

You can click the button below to get connected with a vetted solar company in Waterboro that can help you get a more accurate cost estimate for your home.

Solar savings over time in Waterboro

YearReturn 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

Putting up solar panels by yourself can be a difficult undertaking, which is why using a solar installer is a good option for many homeowners. The payback period on a solar system will vary based on factors like your location and energy needs, but going with a solar company can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.

Working with a vetted solar installer can make going solar easier. Here are our recommendations:

Best Technology

Tesla Energy

★★★★★
3.2
  • 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.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Waterboro, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

If paying for a solar system in cash is too expensive, solar loans are an affordable option because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.When estimating your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.

Solar Panel Installation Company

Lastly, the company you opt for to install your solar panel system can influence the cost. Waterboro’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that 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 come at a higher cost. It’s best to do some research and decide on the company that provides the products, warranties and services you’re looking for and also is within your budget.

Solar Panel Cost Data by System Size

System sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$3.95$16,598$9,70015.8 years
8 kW$3.88$21,706$13,35915.5 years
10 kW$3.80$26,600$17,23115.2 years
12 kW$3.72$31,282$21,31614.9 years
14 kW$3.65$35,750$25,61314.6 years
16 kW$3.57$40,006$30,12314.3 years
18 kW$3.50$44,050$34,84614.0 years
20 kW$3.42$47,880$39,78213.7 years

How to Save on Solar Panels

Since the kind of solar panels and the company you choose greatly impacts your costs and your system’s durability and efficiency, it’s important to select 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 system running for a long time and save you money on repairs and maintenance.
  • Reputation: Companies that have been in business for many years 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 service, such as part repairs and replacements.
  • Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
  • Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.

Best Technology

Tesla Energy

★★★★★
3.2
  • 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

How much does it cost to install solar panels in Waterboro?

The average cost of solar panels in Waterboro is about $19,000 for a 5-kW system and $38,000 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.

Are solar panels free in Waterboro?

You can’t get solar panels for free in Waterboro. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.

How much can I save on electricity bills after switching to solar?

It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Waterboro, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy usage and the average daily 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 install between 20 and 35 panels to cover 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.