Solar Panel Cost Guide in Eldersburg, MD (2023 Update)
- Eldersburg Solar Installation Cost: $10,994
- 25-Year Savings: $8,376
- Payback Period: 14.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Eldersburg
Let's take a look at the average cost of solar panels in Eldersburg.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Eldersburg, the average cost of solar panels is 2.77 per watt. The average solar panel system size in Eldersburg is around 5.7 kilowatts, meaning a cost of about $10,994 for a solar installation, or $15,721 before the 30% federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you may look different based on factors unique to your home and what company you go with. For most homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Eldersburg see about $13,000 in savings on energy bills over 20 years.
Click the button below to get connected to a top solar company in Eldersburg for a custom quote.
Solar savings over time in Eldersburg
| Year | Return on Investment |
|---|---|
| 1 years | $-10,219 |
| 3 years | $-8,670 |
| 5 years | $-7,120 |
| 7 years | $-5,570 |
| 9 years | $-4,021 |
| 11 years | $-2,471 |
| 13 years | $-922 |
| 15 years | $628 |
| 17 years | $2,178 |
| 19 years | $3,727 |
| 21 years | $5,277 |
| 23 years | $6,826 |
| 25 years | $8,376 |
Top Solar Installers in Eldersburg
Although you can install solar panels yourself, it involves extra effort and handiness. Because of that, most homeowners choose to hire a solar panel installer. The expertise that solar installers provide can be helpful as well, especially if you aren't sure what brand of solar equipment would be right for your home.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Eldersburg
Factors that Affect Solar Panel Costs in Eldersburg
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that will push your cost above or below the average in Eldersburg: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar 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 largely based on your home's energy consumption, which you can figure out by looking at past electricity bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Eldersburg, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Eldersburg to be too expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in higher prices over time because of interest. It's wise 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 back the loan.
Solar Panel Installation Company
The solar company you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies operating in Eldersburg, and each can charge different amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut 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 vehicle 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 | $8,408 | 14.8 years |
| 8 kW | $2.83 | $15,822 | $11,520 | 14.5 years |
| 10 kW | $2.77 | $19,390 | $14,788 | 14.2 years |
| 12 kW | $2.71 | $22,803 | $18,211 | 13.9 years |
| 14 kW | $2.66 | $26,060 | $21,789 | 13.6 years |
| 16 kW | $2.60 | $29,163 | $25,523 | 13.3 years |
| 18 kW | $2.55 | $32,110 | $29,411 | 13.0 years |
| 20 kW | $2.49 | $34,902 | $33,455 | 12.8 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose considerably impacts 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:
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: It's important to look over 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: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Eldersburg, MD Solar Cost FAQs
What is the average cost of installing solar panels in Eldersburg?
This is a hard 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 other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Eldersburg?
Leasing solar panels can be an appealing choice, because it commonly 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.
How much can I save on energy bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Eldersburg, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, solar panels can last 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.