Solar Panel Cost Guide in Chillum, MD (2023 Update)
- Chillum Solar Installation Cost: $10,577
- 25-Year Savings: $12,317
- Payback Period: 11.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Chillum
We go over average solar pricing in Chillum.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Chillum, the average cost of solar panels is 2.77 per watt. The average solar panel system size in Chillum is around 5.5 kilowatts, meaning a cost of about $10,568 for a solar installation, or $15,112 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of making the switch to solar can vary depending on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with. But, after you've paid the initial cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $16,000 over 20 years on electricity bills.
Click the button below to get connected to a top solar installer in Chillum for a customized estimate.
Solar savings over time in Chillum
| Year | Return on Investment |
|---|---|
| 1 years | $-10,501 |
| 3 years | $-10,348 |
| 5 years | $-10,195 |
| 7 years | $-10,043 |
| 9 years | $-9,890 |
| 11 years | $-9,738 |
| 13 years | $-9,585 |
| 15 years | $-9,432 |
| 17 years | $-9,280 |
| 19 years | $-9,127 |
| 21 years | $-8,974 |
| 23 years | $-8,822 |
| 25 years | $-8,669 |
Top Solar Installers in Chillum
When making the switch to solar, many homeowners opt to use a solar installation company since installing solar panels yourself can be a difficult project. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you'd like to go solar but still aren't certain which solar panel installer to go with, here are our suggestions for providers in Chillum:
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 Chillum
Factors that Affect Solar Panel Costs in Chillum
For many Chillum homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Chillum, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $2,770 per kilowatt in Chillum. There are several different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far 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 Chillum to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in higher prices over time due to interest. Though solar loans make going solar more accessible for Chillum 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 avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you pick will play a role in your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. The company's size can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
- Contract: Before you sign a contract with a solar installer, make sure to look it over carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
- Solar Panel Brands: Not all solar companies have 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.
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 Chillum, MD Solar Cost FAQs
What is the average cost of installing solar panels in Chillum?
This is a difficult question to answer precisely, 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Chillum, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.