Solar Panel Cost Guide in Annapolis Neck, MD (2024 Update)
- Annapolis Neck Solar Installation Cost: $13,244
- 25-Year Savings: $10,531
- Payback Period: 15.8 Years
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Average Cost of Solar Panels in Annapolis Neck
We go over average solar pricing in Annapolis Neck.
In Annapolis Neck, solar panels cost about 4 per watt on average.The average solar panel system size in Annapolis Neck is around 5.3 kilowatts, meaning a cost of about $13,244 for a solar installation, or $18,939 before the 0 federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you will most likely look different based on your specific situation and what company you choose to go with.For most homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Annapolis Neck see about $15,000 in savings on energy bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Annapolis Neck
| Year | Return 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 Neck
Many homeowners choose to use a solar panel company since installing solar panels on your own can be challenging. Another great thing about using a reputable solar installer is that it'll provide warranties and free repairs, which help protect your solar system over time.
If you’d like to switch to solar energy but still aren’t certain which solar panel company to go with, here are our suggestions for providers near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Annapolis Neck
Factors that Affect Solar Panel Costs in Annapolis Neck
For many Annapolis Neck homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Annapolis Neck, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,540. There are several different solar panel brands and the one you choose also affects the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Annapolis Neck to be too steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices over time due to interest.However, the interest on solar loans also increases your overall costs, so it’s crucial to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar company you select will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor.The company’s size can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due 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 names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.68 | $15,463 | $7,994 | 16.5 years |
| 8 kW | $3.61 | $20,220 | $11,055 | 16.2 years |
| 10 kW | $3.54 | $24,780 | $14,314 | 15.8 years |
| 12 kW | $3.47 | $29,141 | $17,771 | 15.5 years |
| 14 kW | $3.40 | $33,304 | $21,427 | 15.2 years |
| 16 kW | $3.33 | $37,269 | $25,281 | 14.9 years |
| 18 kW | $3.26 | $41,036 | $29,333 | 14.6 years |
| 20 kW | $3.19 | $44,604 | $33,583 | 14.3 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Annapolis Neck, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: If you’re concerned about the longevity of your solar panel system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: Make sure you’re aligned with the company in regard to how the installation process will go and what needs to be done before your solar system is installed, such as repairing your electrical system or roof.
- Contract: Though reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Annapolis Neck, MD Solar Cost FAQs
How much does it cost to install solar panels in Annapolis Neck?
This is a hard 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 above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Annapolis Neck?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is it worth going solar in Annapolis Neck?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a 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.