Solar Panel Cost Guide in Woolwich, ME (2023 Update)
- Woolwich Solar Installation Cost: $10,420
- 25-Year Savings: $12,215
- Payback Period: 11.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Woolwich
Let's have a look at the average cost of solar in Woolwich.
While the national average of solar panels is $2.66 per watt, solar panels in Woolwich typically cost around 2.83. The average solar panel system size in Woolwich is around 5.3 kilowatts, meaning a cost of about $10,420 for a solar installation, or $14,901 before the 30% federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Woolwich depending on several factors, such as the type of solar panels you choose and the solar contractor you hire. Many homeowners find installing a solar panel system is a sound investment. The average homeowner in Woolwich can save around $16,000 on their energy bills over 20 years.
To receive a free estimate from a highly rated solar installer in Woolwich, you can click the button below.
Solar savings over time in Woolwich
| Year | Return on Investment |
|---|---|
| 1 years | $-9,282 |
| 3 years | $-7,005 |
| 5 years | $-4,729 |
| 7 years | $-2,452 |
| 9 years | $-176 |
| 11 years | $2,101 |
| 13 years | $4,377 |
| 15 years | $6,654 |
| 17 years | $8,930 |
| 19 years | $11,207 |
| 21 years | $13,483 |
| 23 years | $15,760 |
| 25 years | $18,036 |
Top Solar Installers in Woolwich
Although it's possible to install solar panels by yourself, it involves extra time and expertise. That's one of the reasons most people choose a solar panel installer. Some solar companies, especially local ones, can help you take advantage of incentives in Woolwich, therefore optimizing your ROI.
If you'd like to make the switch to solar but still aren't certain which solar system installer to go with, here are our suggestions for providers nearby:
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 Woolwich
Factors that Affect Solar Panel Costs in Woolwich
There are many factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
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 uses, the larger your system will likely need to be. You can expect to pay around $2,830 per kilowatt in Woolwich. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Woolwich, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Woolwich to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. It's wise 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 solar company you pick will influence your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. The company's size can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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
The solar company you choose will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, including:
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
- Contract: Review the contract terms thoroughly to make sure you understand the overall cost, 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 Woolwich, ME Solar Cost FAQs
What is the average cost of installing solar panels in Woolwich?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $14,150 for a 5-kW system and $28,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to think about when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Woolwich?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.
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.