Solar Panel Cost Guide in Chillum, MD (Mar 2023)
- Chillum Solar Installation Cost: $10,568
- 25-Year Savings: $12,326
- Payback Period: 11.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Chillum
We break down average solar pricing in Chillum.
In Chillum, solar panels cost about 2.77 per watt on average. The average Chillum homeowner needs a 5.5-kilowatt system, which would cost about $10,568 with the federal tax credit, or $15,112 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of going solar can vary based on multiple factors, such as what size system you need, your energy usage and what installation company you go with. Many homeowners find installing a solar system is a sound investment. The average homeowner in Chillum can save around $16,000 on their electricity bills over 20 years.
Click the button below to get connected to a reputable solar company in Chillum for a personalized estimate.
Solar savings over time in Chillum
| Year | Return on Investment |
|---|---|
| 1 years | $-9,652 |
| 3 years | $-7,820 |
| 5 years | $-5,989 |
| 7 years | $-4,157 |
| 9 years | $-2,326 |
| 11 years | $-494 |
| 13 years | $1,337 |
| 15 years | $3,169 |
| 17 years | $5,000 |
| 19 years | $6,832 |
| 21 years | $8,663 |
| 23 years | $10,495 |
| 25 years | $12,326 |
Top Solar Installers in Chillum
Installing solar panels on your own can be a stressful task, which is why hiring a solar installation company is a good option for many homeowners. A solar installer can also help save you money in the long run by offering warranties, repairs and part replacements.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some near you:
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 Chillum
Factors that Affect Solar Panel Costs in Chillum
The cost of installing a solar system in Chillum can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar panel system in Chillum, 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 usage, which you can determine by looking at past electricity bills. Your overall cost can increase by around $2,770 for each additional kilowatt you need. There are many different solar panel brands and the one you choose also affects the cost. In general, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Chillum, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. It's wise to include 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 the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar company you pick will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $13,082 | 12.0 years |
| 8 kW | $2.83 | $15,822 | $17,753 | 11.8 years |
| 10 kW | $2.77 | $19,390 | $22,579 | 11.6 years |
| 12 kW | $2.71 | $22,803 | $27,561 | 11.3 years |
| 14 kW | $2.66 | $26,060 | $32,697 | 11.1 years |
| 16 kW | $2.60 | $29,163 | $37,989 | 10.9 years |
| 18 kW | $2.55 | $32,110 | $43,435 | 10.6 years |
| 20 kW | $2.49 | $34,902 | $49,037 | 10.4 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:
- Installation Process: When making the switch to solar power, it's necessary to keep an open line of communication with your solar installer. Make sure you understand how the installation process will go and the project timeline.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before deciding.
- Contract: Before signing a contract with a solar installer, be sure to read it through carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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 Chillum, MD Solar Cost FAQs
How much does it cost to install solar panels in Chillum?
This is a hard question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Chillum?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The downside 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 get the most savings.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How long do solar panels last in Chillum?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can 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.