Solar Panel Cost Guide in Bowleys Quarters, MD (2024 Update)
- Bowleys Quarters Solar Installation Cost: $13,849
- 25-Year Savings: $10,057
- Payback Period: 16.6 Years
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Average Cost of Solar Panels in Bowleys Quarters
We go over average solar pricing in Bowleys Quarters.
While the national average of solar panels is $2.66 per watt, solar panels in Bowleys Quarters typically cost around 4.To account for the typical energy needs of the average home in Bowleys Quarters, most homeowners require a 5.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $13,849, or $19,804 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of solar system you want, your solar contractor and more.But, after you've paid the upfront cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $14,000 over 20 years on power bills.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Bowleys Quarters
Year | Return on Investment |
---|---|
1 years | $-12,435 |
3 years | $-9,606 |
5 years | $-6,777 |
7 years | $-3,949 |
9 years | $-1,120 |
11 years | $1,709 |
13 years | $4,538 |
15 years | $7,366 |
17 years | $10,195 |
19 years | $13,024 |
21 years | $15,853 |
23 years | $18,681 |
25 years | $21,510 |
Top Solar Installers in Bowleys Quarters
When switching to solar energy, many homeowners prefer to use a solar company since installing solar panels yourself can be a difficult project. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.
If you're looking for a solar installer in Bowleys Quarters, we've organized a list of our top suggestions here:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
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 Bowleys Quarters
Factors that Affect Solar Panel Costs in Bowleys Quarters
For many Bowleys Quarters homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Bowleys Quarters, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your home, 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 $3,540. There are several different solar panel brands and the one you choose also changes the cost. In many cases, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you’re looking to install 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 out of pocket is difficult, solar loans are an affordable option because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.While solar loans make adopting solar energy more accessible for Bowleys Quarters homeowners, they can also raise 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 cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can play a role in determining the cost. Bowleys Quarters’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Bowleys Quarters are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $3.68 | $15,463 | $6,968 | 17.2 years |
8 kW | $3.61 | $20,220 | $9,687 | 16.9 years |
10 kW | $3.54 | $24,780 | $12,605 | 16.6 years |
12 kW | $3.47 | $29,141 | $15,720 | 16.2 years |
14 kW | $3.40 | $33,304 | $19,034 | 15.9 years |
16 kW | $3.33 | $37,269 | $22,546 | 15.6 years |
18 kW | $3.26 | $41,036 | $26,257 | 15.2 years |
20 kW | $3.19 | $44,604 | $30,165 | 14.9 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Warranty: If you’re worried about the longevity of your solar panels, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Before signing a contract with a solar installer, make sure to look it over carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
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 Bowleys Quarters, MD Solar Cost FAQs
How much does it cost to install solar panels in Bowleys Quarters?
This is a tough question to answer precisely, because the cost depends on many factors. Generally 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 usage. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Bowleys Quarters?
Leasing solar panels can be an appealing choice, as it often 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
How will solar panels impact how much my home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Bowleys Quarters is currently $361,024, so you could be looking at a value of about $14,802 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Bowleys Quarters is a rewarding investment.
What solar power system size is right for my home?
To figure out what solar panel system size 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.