Cost Of Installing Solar Panels In Maine

Given a solar panel system size of 5 kilowatts kw an average solar installation in maine ranges in cost from 12 580 to 17 020 with the average gross price for solar in maine coming in at 14 800.

Cost of installing solar panels in maine. How long does it take to earn back your initial investment in solar panels. Maine solar solutions specializes in the design and installation of renewable energy systems. Here s how the numbers work for a maine purchase of a 5 kw rooftop solar system. The average cost of a solar panel installation in maine ranges from 12 580 to 17 020.

On a cost per watt w basis a solar panel installation in maine ranges in price from 2 52 to 3 40. Installation for the average 5kw system ranges from 11 100 22 400. The average cost of installed residential solar power systems is currently 2 60 per watt. Buying a 5kw solar system a maine case study costs for installing solar pv panels have come down a long way even over the last couple of years.

They are custom based on the home roof type shading and utility. So you could pay as little as 15 000 for a 5kw solar system today. This is higher than the average price of residential solar power systems across the united states which is currently 2 55 per watt. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8 years.

The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. Don t worry if that sounds high tax credits and energy savings will make it a lot cheaper after year 1. A typical 6kw system costs 11 544 after claiming the 26 solar tax credit. As of september 2020 the average solar panel cost in maine is 2 96 w.

After accounting for the 26 federal investment tax credit itc and other state and local solar incentives the net price you ll pay for solar can fall by thousands of dollars. Maine solar solutions is committed to customer satisfaction. Installing a typical 5 kw solar system should start at about 18 750. As of sep 2020 the average cost of solar panels in maine is 2 87 per watt making a typical 6000 watt 6 kw solar system 12 756 after claiming the 26 federal solar tax credit now available.