Solar Panel Cost Guide in Old Town, ME (2024 Update)
- Old Town Solar Installation Cost: $14,992
- 25-Year Savings: $12,793
- Payback Period: 15.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Old Town
See how much it might cost to switch to solar power in Old Town.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Old Town, the typical cost of solar panels is 4 per watt.The average Old Town homeowner needs a 5.6-kilowatt system, which would cost about $14,992 with the federal tax credit, or $21,439 before the 0 tax credit is applied.
These figures are only estimates, and how much solar costs for you will vary based on your energy needs and what company you want to go with.Despite the large upfront cost, the average Old Town homeowner can save around $16,000 on their electricity bills over 20 years, which is one of the advantages of solar.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Old Town
| Year | Return on Investment |
|---|---|
| 1 years | $-13,961 |
| 3 years | $-11,900 |
| 5 years | $-9,839 |
| 7 years | $-7,778 |
| 9 years | $-5,716 |
| 11 years | $-3,655 |
| 13 years | $-1,594 |
| 15 years | $467 |
| 17 years | $2,529 |
| 19 years | $4,590 |
| 21 years | $6,651 |
| 23 years | $8,712 |
| 25 years | $10,774 |
Top Solar Installers in Old Town
When making the switch to solar, many homeowners prefer to use a solar installation company since DIY solar panel installation can be a time-consuming project. Another perk of utilizing a solar installer is that they can help you maximize your investment by reducing your future costs of repairs and replacements with the help of warranties and informing you of local incentives you can take advantage of.
There are several 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 Old Town
Factors that Affect Solar Panel Costs in Old Town
For many Old Town homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Old Town, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $3,800 per kilowatt in Old Town.The type of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Further, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
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 Old Town homeowners decide to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also adds to your total costs, so it’s important to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar company you choose will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that provides the products, warranties and services you want and also is within your budget.
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 | $8,906 | 16.3 years |
| 8 kW | $3.88 | $21,706 | $12,301 | 16.0 years |
| 10 kW | $3.80 | $26,600 | $15,908 | 15.6 years |
| 12 kW | $3.72 | $31,282 | $19,728 | 15.3 years |
| 14 kW | $3.65 | $35,750 | $23,761 | 15.0 years |
| 16 kW | $3.57 | $40,006 | $28,006 | 14.7 years |
| 18 kW | $3.50 | $44,050 | $32,465 | 14.4 years |
| 20 kW | $3.42 | $47,880 | $37,136 | 14.1 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 find the right company for you, here are some tips to keep in mind:
- Installation Process: When making the switch to solar, it’s essential to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the project completion timeline.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can research your installer’s reputation is by reading reviews.
- Contract: Although reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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 Old Town, ME Solar Cost FAQs
How much does it cost to install solar panels in Old Town?
This is a tough 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Old Town?
You can’t get solar panels for free in Old Town. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
How will having solar panels impact the value of my home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Old Town is currently $227,554, so you can look forward to a value of about $9,330 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Old Town is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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 get 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.