Solar Panel Cost Guide in Chesapeake Ranch Estates, MD (2024 Update)
- Chesapeake Ranch Estates Solar Installation Cost: $12,997
- 25-Year Savings: $9,794
- Payback Period: 16.3 Years
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Average Cost of Solar Panels in Chesapeake Ranch Estates
Here’s how much it might cost to make the switch to solar in Chesapeake Ranch Estates.
The average cost of solar panels in Chesapeake Ranch Estates is 4 per watt.Since a 5.2-kW system is needed to cover the energy usage of a typical home in Chesapeake Ranch Estates, the average price of going solar will be about $12,997 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy use, the type of equipment you choose, your solar contractor and more.Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Chesapeake Ranch Estates can save about $14,000 on their power bills over 20 years.
Click the button below to get connected to a vetted solar installer in Chesapeake Ranch Estates for a personalized quote.
Solar savings over time in Chesapeake Ranch Estates
| Year | Return on Investment |
|---|---|
| 1 years | $-11,663 |
| 3 years | $-8,994 |
| 5 years | $-6,325 |
| 7 years | $-3,656 |
| 9 years | $-987 |
| 11 years | $1,683 |
| 13 years | $4,352 |
| 15 years | $7,021 |
| 17 years | $9,690 |
| 19 years | $12,359 |
| 21 years | $15,028 |
| 23 years | $17,697 |
| 25 years | $20,366 |
Top Solar Installers in Chesapeake Ranch Estates
Many homeowners opt for a solar panel company since trying to install solar panels yourself can be a lot of work. The expertise that solar installers provide can be helpful as well, especially if you aren’t sure what type of solar equipment you need.
If you're on the hunt for a solar company in Chesapeake Ranch Estates, we've compiled a list of our top suggestions here:
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 Ranch Estates
Factors that Affect Solar Panel Costs in Chesapeake Ranch Estates
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Chesapeake Ranch Estates: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly 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. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a 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 a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable option because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can play a role in determining your pricing. Chesapeake Ranch Estates’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $7,374 | 16.9 years |
| 8 kW | $3.61 | $20,220 | $10,229 | 16.6 years |
| 10 kW | $3.54 | $24,780 | $13,282 | 16.3 years |
| 12 kW | $3.47 | $29,141 | $16,533 | 16.0 years |
| 14 kW | $3.40 | $33,304 | $19,982 | 15.6 years |
| 16 kW | $3.33 | $37,269 | $23,630 | 15.3 years |
| 18 kW | $3.26 | $41,036 | $27,476 | 15.0 years |
| 20 kW | $3.19 | $44,604 | $31,520 | 14.6 years |
How to Save on Solar Panels
The solar company you opt for 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 several important things you should take into account, including:
- Contract: It’s important to read your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Ranch Estates, MD Solar Cost FAQs
How much does it cost to install solar panels in Chesapeake Ranch Estates?
This is a difficult question to answer precisely, because the cost depends on a few different 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. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Chesapeake Ranch Estates have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
How long do solar panels last in Chesapeake Ranch Estates?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.