Solar Panel Cost Guide in Maine, NY (2024 Update)
- Maine Solar Installation Cost: $11,857
- 25-Year Savings: $5,217
- Payback Period: 20.0 Years
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Average Cost of Solar Panels in Maine
We break down average solar pricing in Maine.
While the national average of solar panels is $2.66 per watt, solar panels in Maine typically cost around 4.Since a 4.6-kW system is needed to cover the energy consumption of a typical home in Maine, the average price of going solar will be about $11,857 after claiming the federal solar tax credit of 0.
The true cost of your system can be higher or lower than the average in Maine depending on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $12,000 over 20 years on utility bills.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Maine
| Year | Return on Investment |
|---|---|
| 1 years | $-11,031 |
| 3 years | $-9,380 |
| 5 years | $-7,728 |
| 7 years | $-6,076 |
| 9 years | $-4,424 |
| 11 years | $-2,772 |
| 13 years | $-1,120 |
| 15 years | $531 |
| 17 years | $2,183 |
| 19 years | $3,835 |
| 21 years | $5,487 |
| 23 years | $7,139 |
| 25 years | $8,791 |
Top Solar Installers in Maine
Although it's possible to install solar panels on your own, it takes extra energy and know-how. For that reason, most homeowners choose a solar panel installer. The expertise that solar installers offer can be helpful as well, especially if you don’t quite know what kind of solar equipment you need.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Maine
Factors that Affect Solar Panel Costs in Maine
There are several factors that can influence your 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
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,650. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Maine, where sunlight isn’t as abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Maine, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable.When figuring out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can influence your pricing. Maine’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $3.80 | $15,943 | $3,191 | 20.8 years |
| 8 kW | $3.72 | $20,849 | $4,664 | 20.4 years |
| 10 kW | $3.65 | $25,550 | $6,341 | 20.0 years |
| 12 kW | $3.58 | $30,047 | $8,222 | 19.6 years |
| 14 kW | $3.50 | $34,339 | $10,308 | 19.2 years |
| 16 kW | $3.43 | $38,427 | $12,598 | 18.8 years |
| 18 kW | $3.36 | $42,311 | $15,092 | 18.4 years |
| 20 kW | $3.29 | $45,990 | $17,791 | 18.0 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 find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The type of solar panel you’d like to install plays a part in which company you should go with, since different companies have access to different panels.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
- Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Maine, NY Solar Cost FAQs
What is the average cost of installing solar panels in Maine?
The average cost of solar panels in Maine is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Maine, 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 check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much 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.