Solar Panel Cost Guide in Ballenger Creek, MD (2024 Update)
- Ballenger Creek Solar Installation Cost: $14,045
- 25-Year Savings: $17,270
- Payback Period: 21.5 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Ballenger Creek
Here’s how much it might cost to switch to solar power in Ballenger Creek.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Ballenger Creek, the average cost of a solar system is 4 per watt.The average Ballenger Creek homeowner needs a 5.7-kilowatt system, which would cost about $14,045 with the federal tax credit, or $20,084 before the 0 tax credit is applied.
These figures are just estimates, and how much solar costs for you may look different based on factors unique to your home and what company you go with.Even with the large initial cost, the average Ballenger Creek homeowner can save around $11,000 on their power bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a highly rated solar panel company in your area for a personalized estimate.
Solar savings over time in Ballenger Creek
Year | Return on Investment |
---|---|
1 years | $-12,792 |
3 years | $-10,287 |
5 years | $-7,782 |
7 years | $-5,277 |
9 years | $-2,772 |
11 years | $-266 |
13 years | $2,239 |
15 years | $4,744 |
17 years | $7,249 |
19 years | $9,754 |
21 years | $12,259 |
23 years | $14,764 |
25 years | $17,270 |
Top Solar Installers in Ballenger Creek
Trying to put up solar panels yourself can be a challenging project, which is why getting a solar installation company is a good option for many homeowners. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you’d like to switch to solar energy but still aren’t certain which solar system company to go with, here are our recommendations for providers in Ballenger Creek:
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 Ballenger Creek
Factors that Affect Solar Panel Costs in Ballenger Creek
The cost of installing a solar system in Ballenger Creek can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,540.The kind of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Ballenger Creek to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in paying more over time because of interest.However, the interest on solar loans also increases your total costs, so it’s crucial to take that into consideration as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Ballenger Creek, you’ll have many options to choose from, but each comes at different price points for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and go with the company that has the products, warranties and services you’re looking for and also fits within your budget.
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 | $1,817 | 22.4 years |
8 kW | $3.61 | $20,220 | $2,820 | 21.9 years |
10 kW | $3.54 | $24,780 | $4,020 | 21.5 years |
12 kW | $3.47 | $29,141 | $5,419 | 21.1 years |
14 kW | $3.40 | $33,304 | $7,016 | 20.6 years |
16 kW | $3.33 | $37,269 | $8,811 | 20.2 years |
18 kW | $3.26 | $41,036 | $10,805 | 19.8 years |
20 kW | $3.19 | $44,604 | $12,996 | 19.4 years |
How to Save on Solar Panels
The solar company you choose will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
- Installation Process: When making the switch to solar, it’s crucial to maintain an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the project completion timeline.
- Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can research your installer’s reputation is by reading reviews.
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 Ballenger Creek, MD Solar Cost FAQs
What is the average cost of installing solar panels in Ballenger Creek?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly 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 extra solar equipment or more efficient 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 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.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $576.00 per year.
How long do solar panels last in Ballenger Creek?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.