Solar Panel Cost Guide in Eldersburg, MD (2024 Update)
- Eldersburg Solar Installation Cost: $14,044
- 25-Year Savings: $8,381
- Payback Period: 18.1 Years
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Average Cost of Solar Panels in Eldersburg
Let’s have a look at the average cost of solar in Eldersburg.
The national average cost of solar panels is $2.66 per watt, but in Eldersburg it’s 4 per watt.To account for the typical energy usage of the average home in Eldersburg, most homeowners require a 5.7-kilowatt system. Using the figure above, a solar installation costs about $14,044, or $20,083 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of installing solar panels can vary quite a bit based on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with.Many homeowners find adopting solar power is a sound investment. The average homeowner in Eldersburg can save about $13,000 on their electricity bills over 20 years.
You can click the button below to get connected with a vetted solar company in Eldersburg for a quote for your home.
Solar savings over time in Eldersburg
| Year | Return on Investment |
|---|---|
| 1 years | $-12,629 |
| 3 years | $-9,801 |
| 5 years | $-6,972 |
| 7 years | $-4,143 |
| 9 years | $-1,315 |
| 11 years | $1,514 |
| 13 years | $4,343 |
| 15 years | $7,172 |
| 17 years | $10,000 |
| 19 years | $12,829 |
| 21 years | $15,658 |
| 23 years | $18,487 |
| 25 years | $21,315 |
Top Solar Installers in Eldersburg
When switching to solar energy, many homeowners prefer to go with a solar company since installing a solar system yourself can be a time-consuming project. Plus, if you’d like to maximize your investment in solar power, using a solar installer can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives and net metering programs.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some nearby:
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 Eldersburg
Factors that Affect Solar Panel Costs in Eldersburg
For many Eldersburg homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Eldersburg, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Eldersburg, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can determine by looking at past electricity bills. Your overall cost can increase by about $3,540 for each additional kilowatt you need.The brand and kind 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 are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are an affordable choice because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.When considering your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining significant cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Eldersburg, you’ll have many options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Eldersburg have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $3.68 | $15,463 | $5,044 | 18.9 years |
| 8 kW | $3.61 | $20,220 | $7,122 | 18.5 years |
| 10 kW | $3.54 | $24,780 | $9,398 | 18.1 years |
| 12 kW | $3.47 | $29,141 | $11,873 | 17.8 years |
| 14 kW | $3.40 | $33,304 | $14,545 | 17.4 years |
| 16 kW | $3.33 | $37,269 | $17,416 | 17.0 years |
| 18 kW | $3.26 | $41,036 | $20,485 | 16.7 years |
| 20 kW | $3.19 | $44,604 | $23,753 | 16.3 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: Before signing a contract with a solar company, make sure to look it over fully 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 part breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: The kind of solar panel you want plays a part in which installer you should go with, since different companies provide different panels.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
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 Eldersburg, MD Solar Cost FAQs
How much does it cost to install solar panels in Eldersburg?
The average cost of solar panels in Eldersburg is about $17,700 for a 5-kW system and $35,400 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Eldersburg?
Leasing solar panels can be an appealing choice, as it typically 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 way to go if you want to get the most savings.
Is it worth going solar in Eldersburg?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.