Solar Panels Cost 2.5k-12k in Knox County, ME | November, 2024

Solar Panels Cost $2.5k-$12k in Knox County, ME | November, 2024

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How much do solar panels cost in Knox County, ME in 2024?

It is, on average, $3.67 per watt in Knox County, ME in November, 2024 to go solar.

This means that, solar panels will cost you about $3,670 per 1 kW (or 1000 watts) of generation capacounty. When you subtract the 30% federal tax credit, the cost of a 5 kW solar installation in Knox County typically amounts to around $12,845. Note that a more powerful system could be needed to adequately cover your energy demands.

To the left, you can select your county to view the typical roof size and average maximum capacity for residential solar on homes in your area. Find below a complete overview of the {price|costs, payback period, and 20-year typical savings for a 5 kW system in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Knox County: $12,845US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Knox County: 7 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Knox County: $16,978US Average: $16,169

Solar Potential in Knox County

Estimated system size and solar electricity production per median viable roof in
Knox County.

Roof size 465sq. ft.
Capacity 6.5kW DC
Electricity 7.4kkWh AC per yr.

Electricity Costs in Knox County, ME & What that Means for Your Solar Panel Pricing

On average, Knox County residents pay 147.20 for their electric bill each month and use 527 kWh. Flats and small homes with reduced energy requirements are covered in this figure.

In November 2024, the electricity rate in Knox County, ME is 27.95¢ per kWh.

At this time, a 5 kW solar panel installation costs $12,845 after deducting the 30% federal income tax credit.

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Average solar panel costs by system size in Knox County

On the left side below, you can find a detailed pricing breakdown for different solar panel system sizes set up in Knox County. Even though a more extensive solar installation has a larger expense, it also provides increased electricity savings and more substantial income tax credits.

The solar panel cost calculator below and to the right details costs and benefits, considering an average $147.20 electric bill in Knox County Adjust the $147.20 to your average electricity bill payment for results that fit your situation.

System Size 1kW
Roof Size Min. space required
72 ft²
Electricity Value Annual Production $379 a year
Est. Price
$2,569
Savings from a 1kWthis system
  • Est. yearly production 1,354 kWh
  • Est. monthly savings $32
  • Full payback in 1 years
Environmental Impacts
  • Reduces CO2 emissions by 0.4 tons a year
  • Equivalent to planting 18 trees a year
  • Equivalent to driving 994 mi less a year
System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $758 a year
Est. Price
$5,138
Savings from a 2kWthis system
  • Est. yearly production 2,708 kWh
  • Est. monthly savings $63
  • Full payback in 3 years
Environmental Impacts
  • Reduces CO2 emissions by 0.8 tons a year
  • Equivalent to planting 37 trees a year
  • Equivalent to driving 1,989 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $1,137 a year
Est. Price
$7,707
Savings from a 3kWthis system
  • Est. yearly production 4,062 kWh
  • Est. monthly savings $95
  • Full payback in 4 years
Environmental Impacts
  • Reduces CO2 emissions by 1.21 tons a year
  • Equivalent to planting 55 trees a year
  • Equivalent to driving 2,983 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,517 a year
Est. Price
$10,276
Savings from a 4kWthis system
  • Est. yearly production 5,417 kWh
  • Est. monthly savings $126
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 1.61 tons a year
  • Equivalent to planting 74 trees a year
  • Equivalent to driving 3,977 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,896 a year
Est. Price
$12,845
Savings from a 5kWthis system
  • Est. yearly production 6,771 kWh
  • Est. monthly savings $147
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 1.87 tons a year
  • Equivalent to planting 86 trees a year
  • Equivalent to driving 4,626 mi less a year

Knox County Solar Panel Installation Incentives & Rebates | 2024

Rural entrepreneurs and farmers might find that the REAP Grant pays for 80% to 100% of their costs when installing solar or wind energy systems. If you think you might be in this category, we suggest checking your qualification with our REAP Grant eligibility tool.

A 30% federal tax credit is available to most homeowners for residential solar installations, which helps make solar energy a feasible choice in numerous regions across the United States. Furthermore, several state and local programs are in place to further drive the adoption of solar energy.

In Maine, 6 solar rebates and incentives are currently offered from different utilities and government agencies.

Solar and Wind Energy Property Tax Exemption

Value:Varies

Solar photovoltaic equipment and wind turbines in Maine are exempt from state property taxes. The only conditions are that the generated energy must be used on-site and that the panels/turbines are interconnected to the state's power grid under a net metering contract. Additional information is available from the Maine Department of Revenue.

Renewable Portfolio Standard

Value:Varies

Maine first adopted a mandatory renewable portfolio standard in 1997. Currently, the standard requires 80% of the state's energy to be generated from renewable sources by 2030, with conventional sources phased out completely by 2050. Eligible technologies to meet the standard include solar, wind, geothermal, biomass, CHP, waste burning, and hydroelectric. Compliance with the standard is measured using a renewable energy credit (REC) and thermal credit (TREC) system pegging electrical and heat capacity to dollar values. Utilities are responsible for procuring their credit quota from customers through net metering or other purchasing contracts.

Efficiency Maine Trust - Energy Efficiency and Renewable Resource Fund

Value:Varies

The Efficiency Maine Trust is a public benefits fund for energy efficiency projects in the state. Unique to many other states, it is supported by voluntary contributions of up to $10 on monthly energy bills. A large portion of the trust supports grant programs for renewable energy and energy efficiency for local governments, nonprofits, and school districts. The trust's administrators produce an annual report for the Maine legislature detailing budget items and spending initiatives. Additional information is available from the trust website.

Maine Green Power Program

Value:Varies

The Maine Green Power (MGP) program was established through a public-private partnership with 3 Degrees Group. MGP allows the state government to directly purchase renewable energy credits; however, these credits may not be used to meet the renewable portfolio standard. Currently, the program funds large-scale renewable energy generation facilities throughout the state, including a major hydroelectric project. Any Central Maine Power or Emera customer may directly purchase power from MGP in blocks. Additional information is available through the MGP website.

Local Option - Property Assessed Clean Energy

Value:Varies

City and county governments in Maine may offer their own property-assessed clean energy (PACE) financing programs for energy efficiency improvements and equipment. Depending on the specific program, residential and commercial property owners alike have access to an open market of available lenders offering competitive loans and terms. Effectively, funding comes from the government; repayment will therefore take the form of a tax lien senior to the property's mortgage. Maine has standardized PACE loan terms. Available principal ranges from $6,500 to $15,000 at 4.99% APR. Loans can be repaid over up to a 15-year period. While single-family homes may receive PACE funding, they also face more regulations and concerns from the FHFA. Fannie Mae and Freddie Mac cannot take ownership of a mortgage with an active PACE lien, and it is up to the locality to establish loss reserve funds or other safeguards. Interested property owners should consult with their local or county government, as not every jurisdiction offers PACE loans.

Green Power Purchasing

Value:Varies

Any Mainer can opt into the Maine Green Power program to source their energy from local renewable facilities. The program is supported by a surcharge on subscribers' energy bills and pegs consumption to RECs. Governments can purchase RECs through the public-sector arm of the program. Currently, the state government is purchasing RECs from a hydroelectric project to meet a majority of its renewable portfolio standard. Since 2007, 100% of Maine's energy is sourced renewably. Additional information is available through the Maine Green Power website.

Are solar panels worth it in Knox County, ME?

For homeowners in Knox County who intend to stay in their residence beyond the solar payback period, solar panels make an good investment. In Knox County, ME, the installation of a 5 kW solar system can save you an average of $22,483 over 20 years, with an average break even point of 7 years.

The cost of not having solar panels in Knox County, ME

The absence of solar panels or an alternative energy backup means that you forgo the savings mentioned earlier and depend on your electric utility for electricity. Complete dependence on your utility company isn't always the best condition, as recent media examples have demonstrated.

Annually, the average number of outages per customer in Knox County is about 1.45. On average, the length of an outage is 157.59 minutes. Major events like aging infrastructure, thunderstorms or construction accidents can cause these durations to rise considerably.

View the info below to see the number of current electricity customers without power in Knox County.

A solar energy system, with or without a backup battery, could reduce the effects of any future power interruptions you might experience.

Power Outages

Currently, 0 customers are being tracked in Knox County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Knox County, ME?

Your Energy Needs - The cost per watt is decreased with larger solar panel systems, even though the initial cost is higher. Many consumers realize it's a smart idea to install a solar system that can generate enough power to replace their electric bill, because it helps them save more money.

Make & Model - There are numerous brands and models of solar panels. Your installer’s potential brand preferences make it crucial to pick a reputable contractor. Consumers who prioritize better models typically enjoy a more favorable long-term experience.

Solar Panel Type - There are valid reasons why monocrystalline panels are now considered the industry standard. They are costlier but produce more energy. The majority of professionals in solar installation work with panels made from this material.

Your Property - Irregular terrain, trees, or other challenges can increase the complexity of the installation. These days, the many solar installers can evaluate your home with satellite images and include these elements in the preliminary cost estimate.

Labor Rates - Employees get varied wages from different companies, and these costs are handed down to the consumers. It is typical for companies that provide higher wages to receive better reviews for their work and customer service.

Permitting & Interconnection - Your installation cost will be affected by area-specific permitting and utility interconnection fees. Quality local installers will include these figures in your first estimates to ensure transparency.

See what solar panels cost in other Knox County cities

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Who are the best solar installers in Knox County?

Maine Solar Solutions

Freeport CDP, ME(207) 871-7191

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Micrometer Engineering

Scottsdale, AZ(602) 790-5749

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Norwich Technologies

White River Junction CDP, VT(802) 281-3213

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Silver Sun Solar

Deltona, FL(407) 832-42452

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Maine Solar Engineering

(207) 993-2632

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Auditing of energy requirements for independent energy generation.
  • Monitoring of independent energy generation.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Norwich Solar Technologies

White River Junction CDP, VT(802) 281-3213

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Brereton Industries

Bangor, ME

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.

Knox County, ME Solar Panel Cost FAQs

  • As of November, 2024, the average solar panel installation cost in Knox County, ME has reached $3.67/W. In Knox County, ME, the cost of installing a 5 kW solar panel system is approximately $12,845 after applying the federal tax credit.

  • If you live in Maine, you can find 6 rebates and incentives through different utilities and government agencies. Moreover, nearly everyone is eligible for the 30% federal income tax credit.

  • Paying cash yields the most savings, but there are now numerous financing options for solar panels that are also advantageous. Financing options are frequently available through installers and will be included in your initial quotes.

  • Yes, the typical duration for 5 kW solar panel systems to pay back their cost in Knox County, ME is 7 years, with electricity savings estimated at $22,483 over 20 years.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-11-05