Solar Panels Cost $2.6k-$13k in Waldo County, ME | November, 2024
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How much do solar panels cost in Waldo County, ME in 2024?
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The typical cost per watt of solar in Waldo County, ME in November, 2024 is $3.83/W.
It will cost $3,830, on average, per 1000 watts (1 kW) of capacounty that your solar panels have. After applying the 30% federal tax credit, a 5 kW solar panel system in Waldo County typically costs $13,405. To fully meet your energy requirements, you may require more than a 5kW system.
Use the left-hand menu to select your area and find the typical roof size and the maximum capacity for solar panel systems on homes in your county. Below, you can see an outline of the costs, payback period and 20 year average 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.
Waldo County: $13,405US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Waldo County: 8 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Waldo County: $16,212US Average: $16,169
Solar Potential in Waldo County
Estimated system size and solar electricity production per median viable roof in Waldo County.
Roof size 465sq. ft.
Capacity 6.5kW DC
Electricity 7.4kkWh AC per yr.
Electricity Costs in Waldo County, ME & What that Means for Your Solar Panel Pricing
Energy consumers in Waldo County generally pay 147.34 per month for electricity, using an typical of 530 kWh. Smaller units, such as efficiencies and condos, are also covered by the statistics mentioned in the earlier sentence.
The electricity rate per kWh in Waldo County, ME for November 2024 averages 27.81¢.
The initial cost for a 5 kW solar system amounts to $19,150, but after a 30% tax credit, your cost is reduced to $13,405.
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Waldo County
On the left side below, you'll find the pricing details for multiple sizes of the solar panel systems set up in Waldo County. A larger solar array will obviously cost more, but it will also provide higher electricity savings and more substantial income tax credits.
The cost and benefit breakdown for solar panels, shown in the calculator down and to the right, is based on an average electric bill of $147.34 in Waldo County. Easily replace the $147.34 with your usual electricity bill amount to see more specific results.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 1kW
Roof Size Min. space required
72 ft²
Electricity Value Annual Production $379 a year
Est. Price
$2,681
Savings from a 1kWthis system
Est. yearly production 1,354 kWh
Est. monthly savings $32
Full payback in 2 years
Environmental Impacts
Reduces CO2 emissions by 0.55 tons a year
Equivalent to planting 25 trees a year
Equivalent to driving 1,366 mi less a year
System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $758 a year
Est. Price
$5,362
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 1.1 tons a year
Equivalent to planting 51 trees a year
Equivalent to driving 2,731 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $1,137 a year
Est. Price
$8,043
Savings from a 3kWthis system
Est. yearly production 4,062 kWh
Est. monthly savings $95
Full payback in 5 years
Environmental Impacts
Reduces CO2 emissions by 1.66 tons a year
Equivalent to planting 76 trees a year
Equivalent to driving 4,097 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,517 a year
Est. Price
$10,724
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 2.21 tons a year
Equivalent to planting 101 trees a year
Equivalent to driving 5,462 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,896 a year
Est. Price
$13,405
Savings from a 5kWthis system
Est. yearly production 6,771 kWh
Est. monthly savings $147
Full payback in 8 years
Environmental Impacts
Reduces CO2 emissions by 2.57 tons a year
Equivalent to planting 118 trees a year
Equivalent to driving 6,353 mi less a year
Waldo County Solar Panel Installation Incentives & Rebates | 2024
The REAP Grant offers substantial financial support, potentially covering 80% to 100% of the costs for rural businesses and farmlands to install solar or wind energy systems. Curious about your eligibility? Use our REAP Grant eligibility tool to find out.
For those looking into residential solar, the 30% federal income tax credit is accessible to most people, making solar a sensible option in numerous states. Besides the federal incentives, state and local programs also seek to boost solar energy uptake.
A total of 6 solar rebates and incentives are available in Maine through different utility companies and government organizations.
Solar incentives in MEIncentive Description Value
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 Waldo County, ME?
For those in Waldo County planning to stay in their homes past the payback period of their solar system, solar panels make good sense. With a 5 kW solar system in Waldo County, ME, the average savings over a 20 period is $21,956.6, with break even generally occurring at 8 years.
The cost of not having solar panels in Waldo County, ME
Beyond forgoing the savings, the absence of solar panels or another backup energy source results in full dependence on your electric utility for your power needs. As shown by recent news stories, complete dependence on your utility company isn't always ideal.
Lately, customers in Waldo County have faced an average of 1.45 utility outages each year. Typically, outages have an average duration of 157.59 minutes. However, during significant events such as aging infrastructure, tornadoes or planned maintenance, these times can drastically increase.
Take a look at the info below to see the number of current electricity customers without power in Waldo County.
Whether or not a backup battery is present, a solar panel system could help ease the impact of future power outages you might experience.
Power Outages
Currently, 0 customers are being tracked in Waldo County.
What impacts the cost of solar panels in Waldo County, ME?
Your Energy Needs - The upfront cost for larger solar panel systems is higher, but the cost per watt decreases as the system size grows. Setting up a solar system that makes sufficient electricity to eliminate their electric bill is beneficial to most individuals, ensuring savings.
Make & Model - There are a variety of makes and models of solar panels. The potential system preferences of your installer mean that it is it's even more necessary to choose a reputable contractor. For a more favorable long-term experience, buyers should opt for superior quality equipment.
Solar Panel Type - The industry standard is now monocrystalline panels, and rightly so. They have a higher price, but they produce more energy. Most solar panel installers choose this type of material.
Your Property - Each property and home is one of a kind. Uneven ground, trees, or other hindrances can increase the difficulty of installing solar panels. These days, most solar installers are able to utilize satellite images to evaluate your home and include these factors for the initial cost estimate.
Labor Rates - The wages that companies pay their employees differ, and these costs are inevitably reflected in consumer prices. Higher reviews for work and customer service are generally associated with businesses that pay higher wages.
Permitting & Interconnection - Local permitting and utility interconnection fees, which vary by region, will impact your final installation cost. Reputable local installers will include these figures in your initial estimates to ensure transparency.
See what solar panels cost in other Waldo County cities
The cost per watt for solar panels in Waldo County, ME during November of 2024 averages $3.83/W. Post federal tax credit, a 5 kW solar panel system installation in Waldo County, ME will roughly cost $13,405.
Currently, Maine residents can benefit from 6 rebates and incentives available through various utilities and government bodies. Moreover, nearly everyone is eligible for the 30% federal income tax credit.
Opting to pay in cash provides the highest savings, but there are now multiple financing options for solar panels that make financial sense. Initial quotes from installers will frequently detail information about available financing options.
Yes, the average 5 kW solar panel payback time in Waldo County, ME is 8 years, with expected savings of $21,956.6 on electricity over 20 years.
Savings from 
Environmental Impacts 
