Solar Panel Cost Guide in Gray, ME (2024 Update)
- Gray Solar Installation Cost: $13,948
- 25-Year Savings: $12,247
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in Gray
We break down average solar pricing in Gray.
The average cost of a solar panel system in Gray is 4 per watt.Since a 5.2-kW system is needed to cover the energy costs of a typical home in Gray, the average price of going solar will be about $13,948 after claiming the federal solar tax credit of 0.
The true cost of your system can go above or below the average in Gray based on a few factors, such as the kind of solar panels you choose and the solar contractor you hire.Many homeowners find adopting solar power is a solid investment. The average homeowner in Gray can save around $16,000 on their power bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Gray
| Year | Return on Investment |
|---|---|
| 1 years | $-12,810 |
| 3 years | $-10,534 |
| 5 years | $-8,257 |
| 7 years | $-5,981 |
| 9 years | $-3,704 |
| 11 years | $-1,428 |
| 13 years | $849 |
| 15 years | $3,125 |
| 17 years | $5,402 |
| 19 years | $7,678 |
| 21 years | $9,955 |
| 23 years | $12,231 |
| 25 years | $14,508 |
Top Solar Installers in Gray
Many homeowners decide to use a solar installer since installing solar panels by yourself can be challenging. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
There are a number of licensed solar professionals that can take care of your solar installation project. 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 Gray
Factors that Affect Solar Panel Costs in Gray
There are a number of criteria that can determine your total 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 cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,800.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Gray, where sunlight is relatively 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
If paying for solar panels out of pocket is too expensive, solar loans are a popular option because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.When considering your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Gray, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $3.95 | $16,598 | $9,301 | 16.0 years |
| 8 kW | $3.88 | $21,706 | $12,827 | 15.7 years |
| 10 kW | $3.80 | $26,600 | $16,565 | 15.4 years |
| 12 kW | $3.72 | $31,282 | $20,517 | 15.1 years |
| 14 kW | $3.65 | $35,750 | $24,681 | 14.8 years |
| 16 kW | $3.57 | $40,006 | $29,058 | 14.5 years |
| 18 kW | $3.50 | $44,050 | $33,648 | 14.2 years |
| 20 kW | $3.42 | $47,880 | $38,451 | 13.9 years |
How to Save on Solar Panels
The company that does your solar panel 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 challenge, we have some tips to help you, such as:
- Contract: Before you sign a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
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 Gray, ME Solar Cost FAQs
What is the average cost of installing solar panels in Gray?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $19,000 for a 5-kW system and $38,000 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 consumption. 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 keep in mind when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is it worth going solar in Gray?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How long do solar panels last in Gray?
Even though 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 the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using 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.