Solar Panel Cost Guide in Baltimore Highlands, MD (2023 Update)
- Baltimore Highlands Solar Installation Cost: $10,837
- 25-Year Savings: $10,057
- Payback Period: 13.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Baltimore Highlands
Let's have a look at the average cost of solar panels in Baltimore Highlands.
Although the national average of solar panels is $2.66 per watt, solar panels in Baltimore Highlands generally cost about 2.77. Using this figure, a typical 5.6-kW system would cost about $10,839 before the 30% federal solar tax credit is applied.
These figures are just estimates, and your own solar costs may vary based on factors unique to your home and what company you want to go with. With average savings of about $14,000 on power bills over 20 years, many homeowners in Baltimore Highlands find installing solar panels can pay off big.
To receive a free quote from a vetted solar installer in Baltimore Highlands, you can click the button below.
Solar savings over time in Baltimore Highlands
| Year | Return on Investment |
|---|---|
| 1 years | $-10,767 |
| 3 years | $-10,628 |
| 5 years | $-10,489 |
| 7 years | $-10,349 |
| 9 years | $-10,210 |
| 11 years | $-10,071 |
| 13 years | $-9,931 |
| 15 years | $-9,792 |
| 17 years | $-9,653 |
| 19 years | $-9,513 |
| 21 years | $-9,374 |
| 23 years | $-9,235 |
| 25 years | $-9,096 |
Top Solar Installers in Baltimore Highlands
When going solar, many homeowners choose to use a solar installation company since installing a solar system yourself can be a time-consuming project. Companies can also offer access to quality options of the best solar panels and help you choose which one will be right for your family.
There are various licensed solar professionals that can help you install your solar system. 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 Baltimore Highlands
Factors that Affect Solar Panel Costs in Baltimore Highlands
The cost of installing a solar system in Baltimore Highlands can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your electric bills. In addition, extra products, like solar batteries, can bump up your total well above the Baltimore Highlands average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Baltimore Highlands homeowners choose to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also adds to your all-in costs, so it's crucial to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Baltimore Highlands, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Baltimore Highlands are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $10,331 | 13.5 years |
| 8 kW | $2.83 | $15,822 | $14,085 | 13.2 years |
| 10 kW | $2.77 | $19,390 | $17,995 | 13.0 years |
| 12 kW | $2.71 | $22,803 | $22,059 | 12.7 years |
| 14 kW | $2.66 | $26,060 | $26,278 | 12.4 years |
| 16 kW | $2.60 | $29,163 | $30,653 | 12.2 years |
| 18 kW | $2.55 | $32,110 | $35,182 | 11.9 years |
| 20 kW | $2.49 | $34,902 | $39,867 | 11.7 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Baltimore Highlands, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Contract: Read the contract terms carefully to make sure you understand the total cost, completion timeline incentives and warranties.
- Solar Panel Brands: Different companies will carry various brands and types of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
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 Baltimore Highlands, MD Solar Cost FAQs
What is the average cost of installing solar panels in Baltimore Highlands?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.