Solar Panel Cost Guide in Bel Air, MD (2024 Update)
- Bel Air Solar Installation Cost: $13,833
- 25-Year Savings: $10,839
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Bel Air
Here’s how much it might cost to go solar in Bel Air.
Although the national average of solar panels is $2.66 per watt, solar panels in Bel Air generally cost about 4.The average solar panel system size in Bel Air is around 5.6 kilowatts, meaning a cost of about $13,833 for a solar installation, or $19,781 before the 0 federal solar tax credit is applied.
The true cost of your system can be above or below the average in Bel Air based on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire.But, after you've paid the initial cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $15,000 over 20 years on power bills.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Bel Air
| Year | Return on Investment |
|---|---|
| 1 years | $-12,419 |
| 3 years | $-9,590 |
| 5 years | $-6,761 |
| 7 years | $-3,933 |
| 9 years | $-1,104 |
| 11 years | $1,725 |
| 13 years | $4,554 |
| 15 years | $7,382 |
| 17 years | $10,211 |
| 19 years | $13,040 |
| 21 years | $15,869 |
| 23 years | $18,697 |
| 25 years | $21,526 |
Top Solar Installers in Bel Air
Many homeowners opt for a solar panel installer since figuring out how to install solar panels on your own can be challenging. Another great thing about using a reputable solar installer is that it'll likely provide warranties and free repairs, which help protect your solar system over time.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Bel Air
Factors that Affect Solar Panel Costs in Bel Air
For many Bel Air homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Bel Air, 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
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use 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 brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a popular choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also increases your total costs, so it’s crucial to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Bel Air is the company you hire to install your PV system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services at different costs.The size of the company can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and better 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 discount 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 | $7,821 | 16.6 years |
| 8 kW | $3.61 | $20,220 | $10,825 | 16.3 years |
| 10 kW | $3.54 | $24,780 | $14,026 | 16.0 years |
| 12 kW | $3.47 | $29,141 | $17,426 | 15.6 years |
| 14 kW | $3.40 | $33,304 | $21,025 | 15.3 years |
| 16 kW | $3.33 | $37,269 | $24,821 | 15.0 years |
| 18 kW | $3.26 | $41,036 | $28,816 | 14.7 years |
| 20 kW | $3.19 | $44,604 | $33,009 | 14.4 years |
How to Save on Solar Panels
The solar installer you opt for will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which type 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 options before making your decision.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Contract: Though reading through a contract can be tedious, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: If you care about the durability of your solar system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Bel Air, MD Solar Cost FAQs
How much does it cost to install solar panels in Bel Air?
The average cost of solar panels in Bel Air is about $17,700 for a 5-kW system and $35,400 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Bel Air?
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 bang for your buck from going solar.
How will solar panels impact the value of my 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?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can 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.