Solar Panel Cost Guide in Wells, ME (2024 Update)
- Wells Solar Installation Cost: $13,737
- 25-Year Savings: $13,291
- Payback Period: 14.6 Years
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Average Cost of Solar Panels in Wells
Find out what the average cost of solar panels are in Wells.
While the national average of solar panels is $2.66 per watt, solar panels in Wells typically cost about 4.Using this figure, a typical 5.2-kW system would cost about $13,737 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Wells homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the savings for most homeowners is usually good, with a net average savings of about $17,000 over 20 years on power bills.
You can click the button below to get connected with a vetted solar installer in Wells that can help you get a more accurate cost estimate for your home.
Solar savings over time in Wells
| Year | Return on Investment |
|---|---|
| 1 years | $-12,598 |
| 3 years | $-10,322 |
| 5 years | $-8,045 |
| 7 years | $-5,769 |
| 9 years | $-3,492 |
| 11 years | $-1,216 |
| 13 years | $1,061 |
| 15 years | $3,337 |
| 17 years | $5,614 |
| 19 years | $7,890 |
| 21 years | $10,167 |
| 23 years | $12,443 |
| 25 years | $14,720 |
Top Solar Installers in Wells
When switching to solar energy, many homeowners prefer to hire a solar installation company since installing a solar system yourself can be a difficult project. Some solar installers, especially local ones, can help you make the most of incentives in Wells, therefore optimizing your ROI.
If you’d like to go solar but still aren’t sure which solar system company to go with, here are our recommendations 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 Wells
Factors that Affect Solar Panel Costs in Wells
For many Wells homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Wells, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Wells, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, 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
Most solar companies in Wells offer solar loans, which reduce your upfront costs of installing solar.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The last significant cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Wells, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $10,730 | 15.2 years |
| 8 kW | $3.88 | $21,706 | $14,732 | 14.9 years |
| 10 kW | $3.80 | $26,600 | $18,947 | 14.6 years |
| 12 kW | $3.72 | $31,282 | $23,375 | 14.3 years |
| 14 kW | $3.65 | $35,750 | $28,016 | 14.0 years |
| 16 kW | $3.57 | $40,006 | $32,869 | 13.7 years |
| 18 kW | $3.50 | $44,050 | $37,935 | 13.4 years |
| 20 kW | $3.42 | $47,880 | $43,214 | 13.1 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: When going solar, it’s crucial to maintain an open line of communication with your solar company. See to it that you understand how the installation process will go and the completion timeline.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
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 Wells, ME Solar Cost FAQs
How much does it cost to install solar panels in Wells?
The average cost of solar panels in Wells 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 things such as the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost 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 places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How will solar panels impact how much my home is worth?
Solar panels can increase your property’s value significantly 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% after installing solar panels."
How long do solar panels last in Wells?
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 their energy production will have decreased significantly after that point. You can opt to 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.