Solar Panel Cost Guide in Fallston, MD (2023 Update)
- Fallston Solar Installation Cost: $10,820
- 25-Year Savings: $10,651
- Payback Period: 12.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Fallston
We go over average solar pricing in Fallston.
The national average cost of solar panels is $2.66 per watt, but in Fallston it's 2.77 per watt. The average Fallston homeowner needs a 5.6-kilowatt system, which would cost about $10,820 with the federal tax credit, or $15,473 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Fallston homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Despite the high upfront cost, the average Fallston homeowner can save about $15,000 on their energy bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a top solar installer in Fallston for a quote for your home.
Solar savings over time in Fallston
| Year | Return on Investment |
|---|---|
| 1 years | $-9,961 |
| 3 years | $-8,243 |
| 5 years | $-6,525 |
| 7 years | $-4,808 |
| 9 years | $-3,090 |
| 11 years | $-1,372 |
| 13 years | $345 |
| 15 years | $2,063 |
| 17 years | $3,781 |
| 19 years | $5,498 |
| 21 years | $7,216 |
| 23 years | $8,934 |
| 25 years | $10,651 |
Top Solar Installers in Fallston
Many homeowners opt for a solar installer since figuring out how to install solar panels yourself can be a labor-intensive endeavor. Local solar companies can also help you maximize your return on investment by assisting with any local incentives and by providing warranties and repairs.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Fallston
Factors that Affect Solar Panel Costs in Fallston
There are many criteria that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,770. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Fallston, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a solid option because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can affect how much you pay. Fallston's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies compete with 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 car 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 | $10,978 | 13.1 years |
| 8 kW | $2.83 | $15,822 | $14,947 | 12.9 years |
| 10 kW | $2.77 | $19,390 | $19,072 | 12.6 years |
| 12 kW | $2.71 | $22,803 | $23,352 | 12.4 years |
| 14 kW | $2.66 | $26,060 | $27,786 | 12.1 years |
| 16 kW | $2.60 | $29,163 | $32,376 | 11.8 years |
| 18 kW | $2.55 | $32,110 | $37,121 | 11.6 years |
| 20 kW | $2.49 | $34,902 | $42,022 | 11.3 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 brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can research your installer's reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
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 Fallston, MD Solar Cost FAQs
How much does it cost to install solar panels in Fallston?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly 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 additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to think about when buying solar panels?
The initial cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.