Solar Panel Cost Guide in Camden, ME (2024 Update)
- Camden Solar Installation Cost: $14,215
- 25-Year Savings: $12,048
- Payback Period: 15.7 Years
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Average Cost of Solar Panels in Camden
Let’s have a look at the average cost of solar panels in Camden.
The national average cost of solar panels is $2.66 per watt, but in Camden it’s 4 per watt.To account for the typical energy usage of the average home in Camden, most homeowners require a 5.3-kilowatt system. Using the figure above, a solar installation costs around $14,215, or $20,327 before the federal solar tax credit of 0 is applied.
The true cost of your system can be higher or lower than the average in Camden depending on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire.Even with the large upfront cost, the average Camden homeowner can save about $16,000 on their electricity bills over 20 years, which is one of the perks of solar.
To get a free estimate from a top solar installer in Camden, you can click the button below.
Solar savings over time in Camden
| Year | Return on Investment |
|---|---|
| 1 years | $-13,077 |
| 3 years | $-10,801 |
| 5 years | $-8,524 |
| 7 years | $-6,248 |
| 9 years | $-3,971 |
| 11 years | $-1,695 |
| 13 years | $582 |
| 15 years | $2,858 |
| 17 years | $5,135 |
| 19 years | $7,411 |
| 21 years | $9,688 |
| 23 years | $11,964 |
| 25 years | $14,241 |
Top Solar Installers in Camden
When switching to solar energy, many homeowners prefer to use a solar company since putting up solar panels yourself can be a difficult project. The expertise that solar installers offer can be valuable as well, particularly if you aren’t sure what type of solar equipment you need.
There are a number of licensed solar professionals that can take care of your solar installation project. 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 Camden
Factors that Affect Solar Panel Costs in Camden
There are a number of criteria that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Camden, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by around $3,800 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Camden, where sunlight isn’t as abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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 energy bills over time, but they can also be a big investment. That’s why many Camden 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 securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Camden, and each can charge varying amounts for labor and equipment.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $8,815 | 16.3 years |
| 8 kW | $3.88 | $21,706 | $12,178 | 16.0 years |
| 10 kW | $3.80 | $26,600 | $15,755 | 15.7 years |
| 12 kW | $3.72 | $31,282 | $19,544 | 15.4 years |
| 14 kW | $3.65 | $35,750 | $23,547 | 15.1 years |
| 16 kW | $3.57 | $40,006 | $27,762 | 14.8 years |
| 18 kW | $3.50 | $44,050 | $32,189 | 14.4 years |
| 20 kW | $3.42 | $47,880 | $36,830 | 14.1 years |
How to Save on Solar Panels
The solar company you opt for will impact not only your total 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 keep in mind, such as:
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- 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 make sure you ask for their list of options before making your decision.
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 Camden, ME Solar Cost FAQs
What is the average cost of installing solar panels in Camden?
The average cost of solar panels in Camden 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 stuff like the kind 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 Camden?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Do solar panels increase your home value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.