Solar Panel Cost Guide in Essex, MD (2023 Update)
- Essex Solar Installation Cost: $10,837
- 25-Year Savings: $10,057
- Payback Period: 13.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Essex
See how much it might cost to go solar in Essex.
In Essex, solar panels cost about 2.77 per watt on average. The average Essex homeowner needs a 5.6-kilowatt system, which would cost about $10,839 with the federal tax credit, or $15,500 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy needs, the type of solar panels you choose, your solar contractor and more. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $14,000 over 20 years on power bills.
To receive a free quote from a highly rated solar installer in Essex, you can click the button below.
Solar savings over time in Essex
| Year | Return on Investment |
|---|---|
| 1 years | $-10,767 |
| 3 years | $-10,628 |
| 5 years | $-10,489 |
| 7 years | $-10,349 |
| 9 years | $-10,210 |
| 11 years | $-10,071 |
| 13 years | $-9,931 |
| 15 years | $-9,792 |
| 17 years | $-9,653 |
| 19 years | $-9,513 |
| 21 years | $-9,374 |
| 23 years | $-9,235 |
| 25 years | $-9,096 |
Top Solar Installers in Essex
Many homeowners opt for a solar panel installer since figuring out how to install solar panels yourself can be a lot of work. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:
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 Essex
Factors that Affect Solar Panel Costs in Essex
Though the average cost of a solar system in Essex is $10,839, your actual cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,770. There are several different solar panel brands and the one you pick also affects the cost. Typically, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you're looking to install 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
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Essex, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Essex is the company you hire to install your solar panel system. Similar to choosing a company to install new cabinets, for example, there's no shortage of solar installers that offer a range of services for different budgets. The size of the company sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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 | $10,331 | 13.5 years |
| 8 kW | $2.83 | $15,822 | $14,085 | 13.2 years |
| 10 kW | $2.77 | $19,390 | $17,995 | 13.0 years |
| 12 kW | $2.71 | $22,803 | $22,059 | 12.7 years |
| 14 kW | $2.66 | $26,060 | $26,278 | 12.4 years |
| 16 kW | $2.60 | $29,163 | $30,653 | 12.2 years |
| 18 kW | $2.55 | $32,110 | $35,182 | 11.9 years |
| 20 kW | $2.49 | $34,902 | $39,867 | 11.7 years |
How to Save on Solar Panels
The solar company you go with will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one mark of a good company.
- Solar Panel Brands: Different companies offer different brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: Review the contract terms closely to make sure you understand the total cost, completion timeline incentives and warranties.
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 Essex, MD Solar Cost FAQs
How much does it cost to install solar panels in Essex?
The average cost of solar panels in Essex is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Essex?
You can't get solar panels for free in Essex. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Essex?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.
How long do solar panels last in Essex?
Even though 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 their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using 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.
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.