Solar Panel Cost Guide in Boonsboro, MD (2023 Update)
- Boonsboro Solar Installation Cost: $11,072
- 25-Year Savings: $5,252
- Payback Period: 17.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Boonsboro
Find out what the average cost of a solar system is in Boonsboro.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Boonsboro, the typical cost of a solar system is 2.77 per watt. The average solar panel system size in Boonsboro is around 5.7 kilowatts, meaning a cost of about $11,072 for a solar installation, or $15,833 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of solar panels you want to get, your solar contractor and more. Many homeowners find adopting solar power is a sound investment. The average homeowner in Boonsboro can save about $11,000 on their energy bills over 20 years.
Click the button below to get connected to a reputable solar company in your area for a custom quote.
Solar savings over time in Boonsboro
| Year | Return on Investment |
|---|---|
| 1 years | $-10,419 |
| 3 years | $-9,113 |
| 5 years | $-7,807 |
| 7 years | $-6,501 |
| 9 years | $-5,195 |
| 11 years | $-3,889 |
| 13 years | $-2,584 |
| 15 years | $-1,278 |
| 17 years | $28 |
| 19 years | $1,334 |
| 21 years | $2,640 |
| 23 years | $3,946 |
| 25 years | $5,252 |
Top Solar Installers in Boonsboro
Although it's possible to install solar panels by yourself, it takes extra labor and know-how. That's one of the reasons most people choose to hire a solar panel installer. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be best for you.
There are a number of 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 Boonsboro
Factors that Affect Solar Panel Costs in Boonsboro
Even though the average cost of a solar system in Boonsboro is $11,072, your actual cost may differ. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,770. There are a lot of different solar panel brands and the one you choose also changes the cost. In general, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are an affordable choice because they cut back your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Boonsboro is the company you get to install your solar system. Similar to choosing a company to install new cabinets, for example, there's no shortage of solar installers that offer a range of services for different budgets. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $5,053 | 17.6 years |
| 8 kW | $2.83 | $15,822 | $7,047 | 17.3 years |
| 10 kW | $2.77 | $19,390 | $9,197 | 17.0 years |
| 12 kW | $2.71 | $22,803 | $11,502 | 16.6 years |
| 14 kW | $2.66 | $26,060 | $13,962 | 16.3 years |
| 16 kW | $2.60 | $29,163 | $16,577 | 15.9 years |
| 18 kW | $2.55 | $32,110 | $19,347 | 15.6 years |
| 20 kW | $2.49 | $34,902 | $22,272 | 15.3 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: Even though reading through a contract can be tedious, it's important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Solar Panel Brands: The type of solar panel you want to get plays a role in which installer you should opt for, since different companies provide different panels.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
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 Boonsboro, MD Solar Cost FAQs
What is the average cost of installing solar panels in Boonsboro?
This is a difficult question to answer precisely, because the cost depends on a few different 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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is it worth going solar in Boonsboro?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses 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 home 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.