Solar Panel Cost Guide in Portland, ME (2024 Update)
- Portland 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 Portland
Find out what the average cost of a solar system is in Portland.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Portland, the typical cost of a solar system is 4 per watt.The average Portland homeowner needs a 5.2-kilowatt system, which would cost about $13,948 with the federal tax credit, or $19,946 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy usage and what solar installer you go with.But, once you've paid the upfront cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $16,000 over 20 years on utility bills.
Click the button below to get connected to a reputable solar company in your area for a personalized estimate.
Solar savings over time in Portland
| 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 Portland
When going solar, many homeowners opt to use a solar installation company since overseeing your solar installation yourself can be a time-consuming project. In addition, if you’d like to maximize your investment in solar power, going with a solar installer can help with that as well. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
If you’d like to go solar but still aren’t sure which solar panel company to go with, here are our suggestions for providers nearby:
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 Portland
Factors that Affect Solar Panel Costs in Portland
There are a number of criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
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 uses, the larger your system will likely need to be. You can expect to pay around $3,800 per kilowatt in Portland.The 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, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Portland average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Portland, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.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 solar company you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies in Portland, and each can charge different amounts for labor and equipment.Additionally, some companies in Portland are more knowledgeable about local solar incentives and can help you make good use 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 | $9,301 | 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
There are a large number of companies available in Portland, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one mark of a quality company.
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 Portland, ME Solar Cost FAQs
How much does it cost to install solar panels in Portland?
The average cost of solar panels in Portland 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to think about when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can solar panels completely eradicate my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Portland, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.