Solar Panel Cost Guide in Chesapeake Beach, MD (2024 Update)
- Chesapeake Beach Solar Installation Cost: $12,997
- 25-Year Savings: $10,259
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in Chesapeake Beach
We break down average solar pricing in Chesapeake Beach.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Chesapeake Beach, the typical cost of a solar system is 4 per watt.To cover the typical energy usage of the average home in Chesapeake Beach, most homeowners require a 5.2-kilowatt system. Using the figure above, a solar installation costs around $12,997, or $18,586 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Chesapeake Beach homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $15,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Chesapeake Beach for a quote for your home.
Solar savings over time in Chesapeake Beach
| Year | Return on Investment |
|---|---|
| 1 years | $-11,583 |
| 3 years | $-8,754 |
| 5 years | $-5,925 |
| 7 years | $-3,097 |
| 9 years | $-268 |
| 11 years | $2,561 |
| 13 years | $5,390 |
| 15 years | $8,218 |
| 17 years | $11,047 |
| 19 years | $13,876 |
| 21 years | $16,704 |
| 23 years | $19,533 |
| 25 years | $22,362 |
Top Solar Installers in Chesapeake Beach
Although it's possible to install solar panels by yourself, it requires extra time and know-how. That's why most homeowners choose to hire a solar panel installer. Local solar installers can also help you optimize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Chesapeake Beach
Factors that Affect Solar Panel Costs in Chesapeake Beach
There are many factors that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the price of a solar panel system in Chesapeake Beach, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by about $3,540 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 choose 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 in the long run on your energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Chesapeake Beach average.
Solar Financing Terms
Many homeowners find the average cost of solar in Chesapeake Beach to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Chesapeake Beach is the company you hire to install your PV system. Similar to choosing a company to build a deck or pool, for instance, you’ll have no shortage of solar installers that offer a range of services at different costs.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and choose a company that offers the products, warranties and services you want and also fits within your budget.
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 | $7,906 | 16.5 years |
| 8 kW | $3.61 | $20,220 | $10,938 | 16.2 years |
| 10 kW | $3.54 | $24,780 | $14,169 | 15.9 years |
| 12 kW | $3.47 | $29,141 | $17,597 | 15.6 years |
| 14 kW | $3.40 | $33,304 | $21,224 | 15.3 years |
| 16 kW | $3.33 | $37,269 | $25,048 | 15.0 years |
| 18 kW | $3.26 | $41,036 | $29,072 | 14.6 years |
| 20 kW | $3.19 | $44,604 | $33,293 | 14.3 years |
How to Save on Solar Panels
The solar company you go with will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When looking over your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Chesapeake Beach, MD Solar Cost FAQs
What is the average cost of installing solar panels in Chesapeake Beach?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $17,700 for a 5-kW system and $35,400 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Chesapeake Beach?
You can’t get solar panels for free in Chesapeake Beach. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $778.97 per year.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.