Solar Panel Cost Guide in Ballenger Creek, MD (2023 Update)
- Ballenger Creek Solar Installation Cost: $10,990
- 25-Year Savings: $5,334
- Payback Period: 16.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Ballenger Creek
Find out what the average cost of solar panel installation is in Ballenger Creek.
Although the national average of solar panels is $2.66 per watt, solar panels in Ballenger Creek typically cost around 2.77. The average solar panel system size in Ballenger Creek is around 5.7 kilowatts, meaning a cost of about $10,994 for a solar installation, or $15,721 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of going solar can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what company you go with. For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $11,000 in savings on utility bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Ballenger Creek
| Year | Return on Investment |
|---|---|
| 1 years | $-9,737 |
| 3 years | $-7,232 |
| 5 years | $-4,727 |
| 7 years | $-2,222 |
| 9 years | $283 |
| 11 years | $2,789 |
| 13 years | $5,294 |
| 15 years | $7,799 |
| 17 years | $10,304 |
| 19 years | $12,809 |
| 21 years | $15,314 |
| 23 years | $17,819 |
| 25 years | $20,324 |
Top Solar Installers in Ballenger Creek
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar panel installer can make swapping over to solar power much easier. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance over the lifespan of your panels.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Ballenger Creek
Factors that Affect Solar Panel Costs in Ballenger Creek
There are many criteria that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the price of solar panels in Ballenger Creek, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can gauge by looking at past electricity bills. Your overall cost can increase by about $2,770 for each additional kilowatt you need. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bump up your total well above the Ballenger Creek average.
Solar Financing Terms
Most solar installers in Ballenger Creek provide solar loans, which reduce your upfront costs of installing solar. Though solar loans make going solar more accessible for Ballenger Creek homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Ballenger Creek is the company you get to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that offer a range of services at different costs. Additionally, some companies in Ballenger Creek know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.88 | $12,099 | $5,181 | 17.5 years |
| 8 kW | $2.83 | $15,822 | $7,218 | 17.2 years |
| 10 kW | $2.77 | $19,390 | $9,410 | 16.8 years |
| 12 kW | $2.71 | $22,803 | $11,758 | 16.5 years |
| 14 kW | $2.66 | $26,060 | $14,260 | 16.2 years |
| 16 kW | $2.60 | $29,163 | $16,918 | 15.8 years |
| 18 kW | $2.55 | $32,110 | $19,730 | 15.5 years |
| 20 kW | $2.49 | $34,902 | $22,698 | 15.1 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: Before signing a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
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 Ballenger Creek, MD Solar Cost FAQs
What is the average cost of installing solar panels in Ballenger Creek?
The average cost of solar panels in Ballenger Creek is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Ballenger Creek?
Leasing solar panels can be an appealing choice, because it usually 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 option if you want to maximize your savings.
Is going solar worth it?
Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.