Solar Panel Cost Guide in Elkton, MD (2025 Update)
- Elkton Solar Installation Cost: $13,786
- 25-Year Savings: $12,415
- Payback Period: 14.9 Years
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Average Cost of Solar Panels in Elkton
We break down average solar pricing in Elkton.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Elkton, the typical cost of a solar system is 4 per watt.The average solar panel system size in Elkton is around 5.6 kilowatts, meaning a cost of about $13,786 for a solar installation, or $19,714 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of installing solar panels can vary quite a bit depending on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with.Even with the significant upfront cost, the average Elkton homeowner can save about $16,000 on their energy bills over 20 years, which is one of the advantages of solar.
To get a free estimate from a pre-vetted solar company in Elkton, you can click the button below.
Solar savings over time in Elkton
| Year | Return on Investment |
|---|---|
| 1 years | $-12,073 |
| 3 years | $-8,647 |
| 5 years | $-5,221 |
| 7 years | $-1,795 |
| 9 years | $1,631 |
| 11 years | $5,057 |
| 13 years | $8,483 |
| 15 years | $11,909 |
| 17 years | $15,334 |
| 19 years | $18,760 |
| 21 years | $22,186 |
| 23 years | $25,612 |
| 25 years | $29,038 |
Top Solar Installers in Elkton
Trying to put up solar panels on your own can be a stressful project, which is why hiring a solar installer is a good option for many homeowners. The expertise that solar companies provide can be invaluable as well, especially if you don’t quite know what type of solar equipment you need.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
See all of the solar companies in Elkton
Factors that Affect Solar Panel Costs in Elkton
While the average cost of a solar system in Elkton is $13,786, your final cost may differ. 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 consider.
Solar Equipment
When it comes to estimating the price of a solar energy system in Elkton, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by around $3,540 for each additional kilowatt you need.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your power bills. Additionally, add-on products, like solar batteries, can bring your total well above the Elkton average.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable route because they reduce your upfront costs and let you pay for your system over five to seven years on average.Though solar loans make going solar more accessible for Elkton homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Elkton is the company you get to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that provide a range of services at different price points.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $9,561 | 15.4 years |
| 8 kW | $3.61 | $20,220 | $13,145 | 15.2 years |
| 10 kW | $3.54 | $24,780 | $16,926 | 14.9 years |
| 12 kW | $3.47 | $29,141 | $20,906 | 14.6 years |
| 14 kW | $3.40 | $33,304 | $25,085 | 14.3 years |
| 16 kW | $3.33 | $37,269 | $29,461 | 14.0 years |
| 18 kW | $3.26 | $41,036 | $34,036 | 13.7 years |
| 20 kW | $3.19 | $44,604 | $38,809 | 13.4 years |
How to Save on Solar Panels
There are a lot of 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:
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- 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 aren’t sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
EcoWatch's Elkton, MD Solar Cost FAQs
How much does it cost to install solar panels in Elkton?
The average cost of solar panels in Elkton is about $17,700 for a 5-kW system and $35,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Elkton?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Elkton?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use 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.