Solar Panel Cost Guide in Fairwood, MD (2025 Update)
- Fairwood Solar Installation Cost: $13,517
- 25-Year Savings: $10,317
- Payback Period: 16.2 Years
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Average Cost of Solar Panels in Fairwood
We go over average solar pricing in Fairwood.
The national average cost of solar panels is $2.66 per watt, but in Fairwood it’s 4 per watt.Using this figure, a typical 5.5-kW system would cost about $13,517 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of solar panels you want to get, your solar contractor and more.With typical savings of about $15,000 on energy bills over 20 years, many homeowners in Fairwood find installing solar panels can pay off big.
To get a free quote from a pre-vetted solar company in Fairwood, you can click the button below.
Solar savings over time in Fairwood
| Year | Return on Investment |
|---|---|
| 1 years | $-12,103 |
| 3 years | $-9,274 |
| 5 years | $-6,445 |
| 7 years | $-3,616 |
| 9 years | $-788 |
| 11 years | $2,041 |
| 13 years | $4,870 |
| 15 years | $7,698 |
| 17 years | $10,527 |
| 19 years | $13,356 |
| 21 years | $16,185 |
| 23 years | $19,013 |
| 25 years | $21,842 |
Top Solar Installers in Fairwood
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Hiring a solar panel installer can make converting to solar power much easier. Some solar installers, particularly local ones, can help you make the most of incentives in Fairwood, therefore optimizing your ROI.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some near you:
See all of the solar companies in Fairwood
Factors that Affect Solar Panel Costs in Fairwood
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in Fairwood: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag 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 greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
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 Fairwood homeowners choose to finance their solar panel systems to make going solar more affordable.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Fairwood, and each can charge varying amounts for labor and equipment.Larger national companies typically 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 extra 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 | $7,519 | 16.8 years |
| 8 kW | $3.61 | $20,220 | $10,422 | 16.5 years |
| 10 kW | $3.54 | $24,780 | $13,523 | 16.2 years |
| 12 kW | $3.47 | $29,141 | $16,823 | 15.9 years |
| 14 kW | $3.40 | $33,304 | $20,320 | 15.5 years |
| 16 kW | $3.33 | $37,269 | $24,016 | 15.2 years |
| 18 kW | $3.26 | $41,036 | $27,910 | 14.9 years |
| 20 kW | $3.19 | $44,604 | $32,002 | 14.6 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
- Warranty: If you’re worried about the endurance of your solar panels, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, project timeline rebates and warranties.
EcoWatch's Fairwood, MD Solar Cost FAQs
What is the average cost of installing solar panels in Fairwood?
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. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Are solar panels free in Fairwood?
Solar panels aren’t free in Fairwood, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Fairwood is currently $479,776, so you can look forward to a value of about $19,671 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Fairwood is a fruitful investment.
How long do solar panels last in Fairwood?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.