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.
In Eldersburg, solar panels cost about 4 per watt on average.To account for the typical energy usage of the average home in Eldersburg, most homeowners require a 5.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $14,044, or $20,083 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy use, the type of equipment you want, your solar contractor and more.Despite the significant upfront cost, the average Eldersburg homeowner can save about $13,000 on their electricity bills over 20 years, which is one of the perks of solar.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
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
Many homeowners choose to hire a solar installer since trying to put up solar panels on your own can be a labor-intensive endeavor. Also, if you’d like to maximize your investment in solar energy, using a solar installer can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives and net metering programs.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
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
Even though the average cost of a solar system in Eldersburg is $14,044, your final cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Eldersburg, one of the most crucial 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 gauge by looking at past power bills. Your overall cost can increase by about $3,540 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also changes the cost. In general, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Eldersburg homeowners decide to finance their solar panel systems to make going solar more affordable.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you select will impact your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.Larger national companies usually 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 | $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
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
- 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 cost.
- Solar Panel Brands: Different companies have different brands and kinds of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
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 $17,700 for a 5-kW system and $35,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Eldersburg?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs 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 house 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.