Solar Panel Cost Guide in Baltimore, MD (Mar 2023)
- Baltimore Solar Installation Cost: $10,703
- 25-Year Savings: $10,191
- Payback Period: 12.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Baltimore
Let's take a look at the average cost of solar in Baltimore.
Although the national average of solar panels is $2.66 per watt, solar panels in Baltimore typically cost about 2.77. To cover the typical energy usage of the average home in Baltimore, most homeowners require a 5.5-kilowatt system. Using the per-watt figure above, a solar installation costs about $10,703, or $15,305 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average Baltimore homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. But, once you've paid the upfront cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $14,000 over 20 years on power bills.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Baltimore
| Year | Return on Investment |
|---|---|
| 1 years | $-9,868 |
| 3 years | $-8,196 |
| 5 years | $-6,524 |
| 7 years | $-4,853 |
| 9 years | $-3,181 |
| 11 years | $-1,510 |
| 13 years | $162 |
| 15 years | $1,833 |
| 17 years | $3,505 |
| 19 years | $5,176 |
| 21 years | $6,848 |
| 23 years | $8,519 |
| 25 years | $10,191 |
Top Solar Installers in Baltimore
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Using an installer can make your swap to solar power much easier. The payback period on a solar system will vary depending on factors like your roof configuration and energy consumption, but working with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Technology
Tesla Energy
- 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 Baltimore
Factors that Affect Solar Panel Costs in Baltimore
For many Baltimore homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Baltimore, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in Baltimore, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can determine by looking at past energy bills. Your total cost can increase by about $2,770 for each additional kilowatt you need. The kind of solar equipment you choose can bring your price up or down 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 over time on your power bills. In addition, extra products, like solar batteries, can bump up your total well above the Baltimore average.
Solar Financing Terms
Many homeowners find the average cost of solar in Baltimore to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. Even though solar loans make adopting solar energy more accessible for Baltimore homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you hire to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar installation companies in Baltimore, and each can charge varying amounts for labor and equipment. Additionally, some companies in Baltimore have more knowledge 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 size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.88 | $12,099 | $10,631 | 13.3 years |
| 8 kW | $2.83 | $15,822 | $14,485 | 13.1 years |
| 10 kW | $2.77 | $19,390 | $18,494 | 12.8 years |
| 12 kW | $2.71 | $22,803 | $22,658 | 12.5 years |
| 14 kW | $2.66 | $26,060 | $26,977 | 12.3 years |
| 16 kW | $2.60 | $29,163 | $31,452 | 12.0 years |
| 18 kW | $2.55 | $32,110 | $36,081 | 11.8 years |
| 20 kW | $2.49 | $34,902 | $40,866 | 11.5 years |
How to Save on Solar Panels
The solar installer you go with will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- 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 look into your installer's reputation is by reading reviews.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
Best Technology
Tesla Energy
- 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 Baltimore, MD Solar Cost FAQs
What is the average cost of installing solar panels in Baltimore?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Baltimore?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home 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.
Does Baltimore have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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 install 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.