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 go 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 company you hire.But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $12,000 over 20 years on utility bills.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, 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 by yourself, it involves extra energy and expertise. That's one of the reasons most homeowners choose a solar panel installer. Companies can also have access to a large variety of the best solar panels and help you decide which one will be right for your family.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Maine
Factors that Affect Solar Panel Costs in Maine
For many Maine homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Maine, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over 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. Because of that, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Maine to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest.While solar loans make going solar more accessible for Maine homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can influence your pricing. Maine’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Maine are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $3.80 | $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
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: It’s important to read through your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable 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.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How much can I save on energy bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Maine, that will require at least a 10-kW system. Not all homes 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 do I need to power 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 buy 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.