Solar Panel Cost Guide in Wiscasset, ME (2023 Update)
- Wiscasset Solar Installation Cost: $14,124
- 25-Year Savings: $12,116
- Payback Period: 15.6 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Wiscasset
Find out what the average cost of installing solar panels is in Wiscasset.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Wiscasset, the average cost of a solar system is 4 per watt.The average Wiscasset homeowner needs a 5.3-kilowatt system, which would cost about $14,124 with the federal tax credit, or $20,197 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of going solar can vary quite a bit depending on multiple factors, such as what size system you need, your energy usage and what installation company you go with.But, after you've paid the initial cost of installation, the savings for most homeowners is typically good, with a net average savings of about $16,000 over 20 years on utility bills.
To get a free quote from a vetted solar installation company in Wiscasset, you can click the button below.
Solar savings over time in Wiscasset
| Year | Return on Investment |
|---|---|
| 1 years | $-12,986 |
| 3 years | $-10,709 |
| 5 years | $-8,433 |
| 7 years | $-6,156 |
| 9 years | $-3,880 |
| 11 years | $-1,603 |
| 13 years | $673 |
| 15 years | $2,950 |
| 17 years | $5,226 |
| 19 years | $7,503 |
| 21 years | $9,779 |
| 23 years | $12,056 |
| 25 years | $14,332 |
Top Solar Installers in Wiscasset
Many homeowners choose to use a solar installer since trying to install solar panels yourself can be time-consuming. Also, companies with a good reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
There are several licensed solar professionals that can help you install your solar system. 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 Wiscasset
Factors that Affect Solar Panel Costs in Wiscasset
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Wiscasset: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That’s why it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Wiscasset, where sunlight isn’t as 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
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Wiscasset homeowners choose to finance their solar panel systems to make paying for solar more affordable.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the growing popularity of renewable energy solutions in Wiscasset, you’ll have many options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Wiscasset are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $3.95 | $16,598 | $8,979 | 16.2 years |
| 8 kW | $3.88 | $21,706 | $12,398 | 15.9 years |
| 10 kW | $3.80 | $26,600 | $16,029 | 15.6 years |
| 12 kW | $3.72 | $31,282 | $19,873 | 15.3 years |
| 14 kW | $3.65 | $35,750 | $23,930 | 15.0 years |
| 16 kW | $3.57 | $40,006 | $28,200 | 14.7 years |
| 18 kW | $3.50 | $44,050 | $32,683 | 14.4 years |
| 20 kW | $3.42 | $47,880 | $37,378 | 14.0 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The model of solar panel you want plays a role in which company you should go with, since different companies offer different panels.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
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 Wiscasset, ME Solar Cost FAQs
What is the average cost of installing solar panels in Wiscasset?
The average cost of solar panels in Wiscasset 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 model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Wiscasset?
You can’t get solar panels for free in Wiscasset. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $852.58 per year.
How long do solar panels last in Wiscasset?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.