Solar Panel Cost Guide in Bangor, ME (2024 Update)
- Bangor Solar Installation Cost: $14,992
- 25-Year Savings: $12,499
- Payback Period: 15.8 Years
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Average Cost of Solar Panels in Bangor
See how much it might cost to make the switch to solar in Bangor.
The average cost of solar panels in Bangor is 4 per watt.Using this figure, a typical 5.6-kW system would cost about $14,992 before the 0 federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you will most likely look different based on your energy needs and what company you go with.For most homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $16,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a vetted solar company in Bangor for a quote for your home.
Solar savings over time in Bangor
| 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 Bangor
Installing solar panels by yourself can be a stressful task, which is why getting a solar installation company is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you’d like to go solar but still aren’t certain which solar installer to go with, here are our suggestions for providers nearby:
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 Bangor
Factors that Affect Solar Panel Costs in Bangor
For many Bangor homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Bangor, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,800.There are many different solar panel brands and the one you choose also affects the cost. Usually, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Bangor, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Bangor, and each can charge varying amounts for labor and equipment.The company’s size can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $8,593 | 16.5 years |
| 8 kW | $3.88 | $21,706 | $11,883 | 16.2 years |
| 10 kW | $3.80 | $26,600 | $15,386 | 15.8 years |
| 12 kW | $3.72 | $31,282 | $19,102 | 15.5 years |
| 14 kW | $3.65 | $35,750 | $23,030 | 15.2 years |
| 16 kW | $3.57 | $40,006 | $27,172 | 14.9 years |
| 18 kW | $3.50 | $44,050 | $31,526 | 14.6 years |
| 20 kW | $3.42 | $47,880 | $36,092 | 14.3 years |
How to Save on Solar Panels
The solar company you choose will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, including:
- Solar Panel Brands: The brand of solar panel you want plays a part in which installer you should go with, since different companies have access to different panels.
- Warranty: If you care about the longevity of your solar panel system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
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 Bangor, ME Solar Cost FAQs
How much does it cost to install solar panels in Bangor?
The average cost of solar panels in Bangor is about $19,000 for a 5-kW system and $38,000 for a 10-kW system before the ITC, but the real 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.
Are solar panels free in Bangor?
You can’t get solar panels for free in Bangor. 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 want to own your solar panels, you can finance them with a solar loan.
Can solar panels significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $839.72 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can 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.