Solar Panel Cost Guide in Waterville, ME (2025 Update)
- Waterville Solar Installation Cost: $14,502
- 25-Year Savings: $11,835
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Waterville
Let’s take a look at the average cost of solar panels in Waterville.
In Waterville, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in Waterville, most homeowners require a 5.5-kilowatt system. Using the figure above, a solar installation costs around $14,502, or $20,738 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 energy system. The true cost of installing solar panels can vary quite a bit based on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with.Despite the large initial cost, the average Waterville homeowner can save about $16,000 on their power bills over 20 years, which is one of the positives of solar.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Waterville
Year | Return on Investment |
---|---|
1 years | $-13,364 |
3 years | $-11,087 |
5 years | $-8,811 |
7 years | $-6,534 |
9 years | $-4,258 |
11 years | $-1,981 |
13 years | $295 |
15 years | $2,572 |
17 years | $4,848 |
19 years | $7,125 |
21 years | $9,401 |
23 years | $11,678 |
25 years | $13,954 |
Top Solar Installers in Waterville
Many homeowners decide to hire a solar installation company since installing solar panels yourself can be challenging. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you’d like to start using solar energy but still aren’t sure which solar company to go with, here are our recommendations for providers near you:
See all of the solar companies in Waterville
Factors that Affect Solar Panel Costs in Waterville
The cost of installing a solar system in Waterville can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $3,800 per kilowatt in Waterville.The kind of 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. On the other hand, higher efficiency could save you more in the long run on your power bills. In addition, extra products, like solar batteries, can bring your total well above the Waterville average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are available from most installers in Waterville, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Waterville is the company you choose to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that offer a range of services for different budgets.Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $8,312 | 16.7 years |
8 kW | $3.88 | $21,706 | $11,509 | 16.3 years |
10 kW | $3.80 | $26,600 | $14,918 | 16.0 years |
12 kW | $3.72 | $31,282 | $18,540 | 15.7 years |
14 kW | $3.65 | $35,750 | $22,375 | 15.4 years |
16 kW | $3.57 | $40,006 | $26,423 | 15.1 years |
18 kW | $3.50 | $44,050 | $30,683 | 14.7 years |
20 kW | $3.42 | $47,880 | $35,156 | 14.4 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can research your installer’s reputation is by reading reviews.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: Look through the contract terms thoroughly to make sure you understand the overall cost, project timeline incentives and warranties.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one mark of a good company.
EcoWatch's Waterville, ME Solar Cost FAQs
How much does it cost to install solar panels in Waterville?
The average cost of solar panels in Waterville is about $19,000 for a 5-kW system and $38,000 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Waterville?
You can’t get solar panels for free in Waterville. However, you may still be able to afford 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.
Can you sell solar power back to the grid in Waterville?
Most states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for 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 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.