Maine Solar Panel Costs

A solar payback periodis the amount of time it takes for property owners who install solar panels to recover their initial investment through electricity savings.

Maine solar panel costs.

Stats above assume a 32 square meter 345 square foot standard efficiency 15 5 kw system costing 21 000 out of pocket. Solar energy costs 0 08 to 0 10 per kwh to produce on average depending on your location. 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. Data based on 420 reporting zip codes in maine.

Here s how the numbers pencil out for a maine solar purchase with a loan. On a cost per watt w basis a solar panel installation in maine ranges in price from 2 52 to 3 40. How long does it take to earn back your initial investment in solar panels. Installing a typical 5 kw solar system should start at about 18 750.

That s how big your loan will need to be to cover it. A typical 6kw system costs 11 544 after claiming the 26 solar tax credit. In maine the average solar payback period is 11 67 years. Costs vary but are generally lower due to federal and local government incentives.

As of september 2020 the average solar panel cost in maine is 2 99 w given a solar panel system size of 5 kilowatts kw an average solar installation in maine ranges in cost from 12 708 to 17 192 with the average gross price for solar in maine coming in at 14 950 after accounting for the 26 federal investment tax credit itc and other state and local solar incentives the net price. September 12 2020 the average cost of installed residential solar power systems is currently 2 60 per watt. They ve gone up over the past few years which could factor into the increase in both residential and commercial solar in 2019 despite increases in system installations the state still ranked 42nd in the nation for solar. 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.

Solar panels cost 1 77 to 2 20 per watt and a 6 kw solar panel installation for the average home costs from 10 626 to 13 230 after the 30 federal solar tax credit. Maine solar solutions designs installs and services solar electric pv systems throughout maine. How expensive is electricity in maine. Maine has one of the top 10 average electricity prices in the country at more than 0 18 per kwh prices weren t always this high.

This is higher than the average price of residential solar power systems across the united states which is currently 2 60 per watt. Solar panels in maine. As of september 2020 the average solar panel cost in maine is 2 96 w.