Solar Panel Cost Guide in Lisbon, ME (2024 Update)
- Lisbon Solar Installation Cost: $14,377
- 25-Year Savings: $11,928
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in Lisbon
We go over average solar pricing in Lisbon.
The average cost of solar panels in Lisbon is 4 per watt.To account for the typical energy needs of the average home in Lisbon, most homeowners require a 5.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $14,377, or $20,559 before the federal solar tax credit of 0 is applied.
These figures are just estimates, and the cost of going solar for you will most likely look different based on your specific situation and what company you choose to go with.With typical savings of about $16,000 on utility bills over 20 years, many homeowners in Lisbon find installing solar panels can be quite rewarding.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Lisbon
| Year | Return on Investment |
|---|---|
| 1 years | $-13,239 |
| 3 years | $-10,962 |
| 5 years | $-8,686 |
| 7 years | $-6,409 |
| 9 years | $-4,133 |
| 11 years | $-1,856 |
| 13 years | $420 |
| 15 years | $2,697 |
| 17 years | $4,973 |
| 19 years | $7,250 |
| 21 years | $9,526 |
| 23 years | $11,803 |
| 25 years | $14,079 |
Top Solar Installers in Lisbon
Installing solar panels by yourself can be a stressful project, which is why hiring a solar installer is a good option for many homeowners. Some solar companies, especially local ones, can help you better understand incentives in Lisbon, thereby optimizing your ROI.
There are a number of licensed solar professionals that can help you install your solar system. 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 Lisbon
Factors that Affect Solar Panel Costs in Lisbon
Though the average cost of a solar system in Lisbon is $14,377, your actual cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation 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.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your electric bills. Additionally, extra products, like solar batteries, can bump up your total well above the Lisbon average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Lisbon homeowners decide to finance their solar panel systems to make paying for solar more affordable.When trying to figure 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
The solar company you hire to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar panel companies in Lisbon, and each can charge different amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies compete with them by offering 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 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 | $8,529 | 16.5 years |
| 8 kW | $3.88 | $21,706 | $11,797 | 16.2 years |
| 10 kW | $3.80 | $26,600 | $15,279 | 15.9 years |
| 12 kW | $3.72 | $31,282 | $18,973 | 15.6 years |
| 14 kW | $3.65 | $35,750 | $22,880 | 15.2 years |
| 16 kW | $3.57 | $40,006 | $27,000 | 14.9 years |
| 18 kW | $3.50 | $44,050 | $31,332 | 14.6 years |
| 20 kW | $3.42 | $47,880 | $35,878 | 14.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Contract: When looking over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Installation Process: When making the switch to solar power, it’s essential to keep an open line of communication with your solar company. Confirm that you understand how the installation process works and the completion timeline.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Reputation: Your solar installer should have a good 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 good reviews from past customers.
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 Lisbon, ME Solar Cost FAQs
What is the average cost of installing solar panels in Lisbon?
This is a hard question to answer precisely, 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 cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Lisbon?
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 can’t take advantage of many solar incentives. Also your property 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.
Is it worth going solar in Lisbon?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use 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.