Solar Panel Cost Guide in Annapolis, MD (2024 Update)

  • Annapolis Solar Installation Cost: $13,244
  • 25-Year Savings: $10,531
  • Payback Period: 15.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated June 24, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Annapolis

Let’s take a look at the average cost of solar in Annapolis.

In Annapolis, solar panels cost about 4 per watt on average.Using this figure, a typical 5.3-kW system would cost about $13,244 before the 0 federal solar tax credit is applied.

These figures are only estimates, and your own solar costs will most likely differ based on your energy needs and what company you go with.Even with the significant upfront cost, the average Annapolis homeowner can save around $15,000 on their power bills over 20 years, which is one of the positives of solar.

To calculate your potential savings and connect with a local solar expert, click the button below.

Solar savings over time in Annapolis

YearReturn on Investment
1 years$-11,829
3 years$-9,001
5 years$-6,172
7 years$-3,343
9 years$-514
11 years$2,314
13 years$5,143
15 years$7,972
17 years$10,801
19 years$13,629
21 years$16,458
23 years$19,287
25 years$22,115

Top Solar Installers in Annapolis

When going solar, many homeowners decide to use a solar company since DIY solar panel installation can be a time-consuming project. Some solar installers, especially local ones, can help you better understand incentives in Annapolis, optimizing your ROI.

Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Solar Veteran

Trinity Solar

★★★★★
4.0
  • Many financing options
  • Family-owned and -operated
  • Makes charitable contributions
  • Limited service area
  • Relatively short workmanship warranty

Best Technology

Tesla Energy

★★★★★
3.2
  • 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 Annapolis

Factors that Affect Solar Panel Costs in Annapolis

There are several criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,540.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Annapolis, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Annapolis, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible.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

Finally, the company you choose to install your solar panel system can play a part in determining how much you pay. Annapolis’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Annapolis know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.

Solar Panel Cost Data by System Size

System sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$3.68$15,463$7,99416.5 years
8 kW$3.61$20,220$11,05516.2 years
10 kW$3.54$24,780$14,31415.8 years
12 kW$3.47$29,141$17,77115.5 years
14 kW$3.40$33,304$21,42715.2 years
16 kW$3.33$37,269$25,28114.9 years
18 kW$3.26$41,036$29,33314.6 years
20 kW$3.19$44,604$33,58314.3 years

How to Save on Solar Panels

There are a large number of companies to choose from in Annapolis, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:

  • Warranty: If you’re worried about the endurance of your solar panel system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Contract: Though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
  • Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Solar Veteran

Trinity Solar

★★★★★
4.0
  • Many financing options
  • Family-owned and -operated
  • Makes charitable contributions
  • Limited service area
  • Relatively short workmanship warranty

Best Technology

Tesla Energy

★★★★★
3.2
  • 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 Annapolis, MD Solar Cost FAQs

How much does it cost to install solar panels in Annapolis?

This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $17,700 for a 5-kW system and $35,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Is it better to lease or buy solar panels in Annapolis?

Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.

How much can I save on energy bills after installing solar panels?

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 $781.87 per year.

How often do you have to replace solar panels?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.

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.