Solar Panel Cost Guide in Fort Meade, MD (2023 Update)
- Fort Meade Solar Installation Cost: $10,363
- 25-Year Savings: $10,531
- Payback Period: 12.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Fort Meade
We go over average solar pricing in Fort Meade.
While the national average of solar panels is $2.66 per watt, solar panels in Fort Meade generally cost around 2.77. Using this figure, a typical 5.3-kW system would cost about $10,354 before the 30% federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Fort Meade based on a few factors, such as the model of solar panels you choose and the solar company you hire. But, once you've paid the initial cost of installation, the savings for most homeowners is usually good, with a net average savings of about $15,000 over 20 years on power bills.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Fort Meade
| Year | Return on Investment |
|---|---|
| 1 years | $-10,293 |
| 3 years | $-10,154 |
| 5 years | $-10,015 |
| 7 years | $-9,875 |
| 9 years | $-9,736 |
| 11 years | $-9,597 |
| 13 years | $-9,458 |
| 15 years | $-9,318 |
| 17 years | $-9,179 |
| 19 years | $-9,040 |
| 21 years | $-8,900 |
| 23 years | $-8,761 |
| 25 years | $-8,622 |
Top Solar Installers in Fort Meade
Many homeowners opt for a solar installation company since installing solar panels on your own can be a lot of work. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be right for you.
If you're searching for a solar installer in Fort Meade, we've put together a list of our top suggestions here:
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 Fort Meade
Factors that Affect Solar Panel Costs in Fort Meade
There are several factors that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Fort Meade, one of the most important 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 determine by looking at past energy bills. Your total cost can increase by about $2,770 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Fort Meade, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Fort Meade homeowners opt to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also increases your overall costs, so it's crucial to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Fort Meade, you'll have many options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Fort Meade are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $11,357 | 12.9 years |
| 8 kW | $2.83 | $15,822 | $15,453 | 12.6 years |
| 10 kW | $2.77 | $19,390 | $19,704 | 12.4 years |
| 12 kW | $2.71 | $22,803 | $24,110 | 12.2 years |
| 14 kW | $2.66 | $26,060 | $28,671 | 11.9 years |
| 16 kW | $2.60 | $29,163 | $33,387 | 11.7 years |
| 18 kW | $2.55 | $32,110 | $38,259 | 11.4 years |
| 20 kW | $2.49 | $34,902 | $43,285 | 11.2 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose considerably affects your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Contract: When looking through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
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 Fort Meade, MD Solar Cost FAQs
How much does it cost to install solar panels in Fort Meade?
This is a difficult question to answer exactly, 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. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $781.87 per year.
How long do solar panels last in Fort Meade?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can 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.