Solar Panel Cost Guide in Chesapeake Ranch Estates, MD (2023 Update)
- Chesapeake Ranch Estates Solar Installation Cost: $10,170
- 25-Year Savings: $9,794
- Payback Period: 12.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Chesapeake Ranch Estates
Find out how much it might cost to switch to solar power in Chesapeake Ranch Estates.
In Chesapeake Ranch Estates, solar panels cost about 2.77 per watt on average. The average Chesapeake Ranch Estates homeowner needs a 5.2-kilowatt system, which would cost about $10,180 with the federal tax credit, or $14,557 before the 30% tax credit is applied.
The true cost of your system can be above or below the average in Chesapeake Ranch Estates based on several factors, such as the kind of solar panels you choose and the solar installer you hire. With typical savings of about $14,000 on utility bills over 20 years, many homeowners in Chesapeake Ranch Estates find installing solar panels can be quite rewarding.
Click the button below to get connected to a highly rated solar company in your area for a customized quote.
Solar savings over time in Chesapeake Ranch Estates
| Year | Return on Investment |
|---|---|
| 1 years | $-10,104 |
| 3 years | $-9,971 |
| 5 years | $-9,837 |
| 7 years | $-9,704 |
| 9 years | $-9,571 |
| 11 years | $-9,438 |
| 13 years | $-9,305 |
| 15 years | $-9,172 |
| 17 years | $-9,039 |
| 19 years | $-8,906 |
| 21 years | $-8,773 |
| 23 years | $-8,640 |
| 25 years | $-8,506 |
Top Solar Installers in Chesapeake Ranch Estates
Trying to put up solar panels on your own can be a challenging task, which is why using a solar installer is a good option for many homeowners. Also, companies with a high reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
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 Ranch Estates
Factors that Affect Solar Panel Costs in Chesapeake Ranch Estates
For many Chesapeake Ranch Estates homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Chesapeake Ranch Estates, 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
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. There are a lot of different solar panel brands and the one you pick also affects the cost. In general, the brands that are more efficient tend to also cost more. Plus, the type of equipment you're looking to get 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
Many homeowners find the average cost of solar in Chesapeake Ranch Estates to be too costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more 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
The solar company you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Chesapeake Ranch Estates, and each can charge different amounts for labor and equipment. Additionally, some companies in Chesapeake Ranch Estates are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, 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 | $10,738 | 13.2 years |
| 8 kW | $2.83 | $15,822 | $14,627 | 13.0 years |
| 10 kW | $2.77 | $19,390 | $18,672 | 12.7 years |
| 12 kW | $2.71 | $22,803 | $22,872 | 12.5 years |
| 14 kW | $2.66 | $26,060 | $27,227 | 12.2 years |
| 16 kW | $2.60 | $29,163 | $31,737 | 12.0 years |
| 18 kW | $2.55 | $32,110 | $36,402 | 11.7 years |
| 20 kW | $2.49 | $34,902 | $41,222 | 11.5 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose significantly influences your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion 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 Chesapeake Ranch Estates, MD Solar Cost FAQs
How much does it cost to install solar panels in Chesapeake Ranch Estates?
This is a hard question to answer exactly, because the cost depends on a few different 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 cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, 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 a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In places 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 Chesapeake Ranch Estates?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out how many solar panels 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.