Solar Panel Cost Guide in Friendly, MD (2023 Update)
- Friendly Solar Installation Cost: $10,577
- 25-Year Savings: $12,317
- Payback Period: 11.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Friendly
Find out how much it might cost to go solar in Friendly.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Friendly, the average cost of a solar system is 2.77 per watt. The average solar panel system size in Friendly is around 5.5 kilowatts, meaning a cost of about $10,568 for a solar installation, or $15,112 before the 30% federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you may differ based on the amount of energy your home requires and what company you want to go with. Even with the significant initial cost, the average Friendly homeowner can save around $16,000 on their electricity bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a vetted solar company in Friendly that can help you get a more accurate cost estimate for your home.
Solar savings over time in Friendly
| Year | Return on Investment |
|---|---|
| 1 years | $-8,871 |
| 3 years | $-5,459 |
| 5 years | $-2,047 |
| 7 years | $1,366 |
| 9 years | $4,778 |
| 11 years | $8,190 |
| 13 years | $11,602 |
| 15 years | $15,014 |
| 17 years | $18,426 |
| 19 years | $21,838 |
| 21 years | $25,250 |
| 23 years | $28,663 |
| 25 years | $32,075 |
Top Solar Installers in Friendly
When going solar, many homeowners decide to hire a solar installer since DIY solar panel installation can be a difficult project. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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 Friendly
Factors that Affect Solar Panel Costs in Friendly
The cost of installing a solar system in Friendly can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. There are a lot of different solar panel brands and the one you pick also changes the cost. In general, the brands that are more efficient tend to also cost more. Plus, the type of equipment you're looking to get 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
If paying for a solar system out of pocket is out of reach, solar loans are a solid choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also adds to your all-in costs, so it's vital to take that into consideration as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Friendly is the company you get to install your solar system. Similar to choosing a company to install new cabinets, for instance, you'll have no shortage of solar installers that provide a range of services at different costs. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have 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 | $2.88 | $12,099 | $13,082 | 12.0 years |
| 8 kW | $2.83 | $15,822 | $17,753 | 11.8 years |
| 10 kW | $2.77 | $19,390 | $22,579 | 11.6 years |
| 12 kW | $2.71 | $22,803 | $27,561 | 11.3 years |
| 14 kW | $2.66 | $26,060 | $32,697 | 11.1 years |
| 16 kW | $2.60 | $29,163 | $37,989 | 10.9 years |
| 18 kW | $2.55 | $32,110 | $43,435 | 10.6 years |
| 20 kW | $2.49 | $34,902 | $49,037 | 10.4 years |
How to Save on Solar Panels
The solar installer you opt for will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:
- Installation Process: When making the switch to solar, it's important to maintain an open line of communication with your solar installer. See to it that you understand how the installation process works and the project timeline.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Different companies carry different brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: Before you sign a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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 Friendly, MD Solar Cost FAQs
What is the average cost of installing solar panels in Friendly?
The average cost of solar panels in Friendly is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Friendly?
Solar panels aren't free in Friendly, but there are some options that can make getting them more viable, 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 the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Friendly is currently $322,900, so you can look forward to a value of about $13,239 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Friendly is a fruitful investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.