Solar Panel Cost Guide in Bar Harbor, ME (2024 Update)
- Bar Harbor Solar Installation Cost: $14,595
- 25-Year Savings: $13,309
- Payback Period: 15.1 Years
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Average Cost of Solar Panels in Bar Harbor
We break down average solar pricing in Bar Harbor.
The national average cost of solar panels is $2.66 per watt, but in Bar Harbor it’s 4 per watt.The average Bar Harbor homeowner needs a 5.5-kilowatt system, which would cost about $14,595 with the federal tax credit, or $20,871 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of solar panels you choose, your solar contractor and more.But, after you've paid the upfront cost of installation, the ROI for most homeowners is usually rewarding, with a net average savings of about $17,000 over 20 years on utility bills.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Bar Harbor
| Year | Return on Investment |
|---|---|
| 1 years | $-13,564 |
| 3 years | $-11,503 |
| 5 years | $-9,442 |
| 7 years | $-7,380 |
| 9 years | $-5,319 |
| 11 years | $-3,258 |
| 13 years | $-1,197 |
| 15 years | $865 |
| 17 years | $2,926 |
| 19 years | $4,987 |
| 21 years | $7,048 |
| 23 years | $9,110 |
| 25 years | $11,171 |
Top Solar Installers in Bar Harbor
Many homeowners opt for a solar panel company since trying to install solar panels by yourself can be a lot of work. Solar installers offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
There are several licensed solar professionals that can help you install your solar system. 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 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 Bar Harbor
Factors that Affect Solar Panel Costs in Bar Harbor
For many Bar Harbor homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Bar Harbor, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,800.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Bar Harbor homeowners decide to finance their solar panel systems to offset upfront costs.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can affect your pricing. Bar Harbor’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Bar Harbor are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $3.95 | $16,598 | $9,842 | 15.7 years |
| 8 kW | $3.88 | $21,706 | $13,548 | 15.4 years |
| 10 kW | $3.80 | $26,600 | $17,467 | 15.1 years |
| 12 kW | $3.72 | $31,282 | $21,598 | 14.8 years |
| 14 kW | $3.65 | $35,750 | $25,943 | 14.5 years |
| 16 kW | $3.57 | $40,006 | $30,500 | 14.2 years |
| 18 kW | $3.50 | $44,050 | $35,270 | 13.9 years |
| 20 kW | $3.42 | $47,880 | $40,253 | 13.6 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 select the right company for you, here are some tips to keep in mind:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, project completion timeline rebates and warranties.
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 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 Bar Harbor, ME Solar Cost FAQs
What is the average cost of installing solar panels in Bar Harbor?
The average cost of solar panels in Bar Harbor 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 certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Bar Harbor?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $881.33 per year.
How often do you have to replace solar panels?
On average, solar panels can last 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 higher level 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.