Solar Panel Cost Guide in Fulton, MD (2023 Update)
- Fulton Solar Installation Cost: $10,827
- 25-Year Savings: $10,067
- Payback Period: 13.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Fulton
Find out what the average cost of solar panel installation is in Fulton.
The average cost of a solar system in Fulton is 2.77 per watt. To cover the typical energy usage of the average home in Fulton, most homeowners require a 5.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $10,820, or $15,473 before the federal solar tax credit of 30% is applied.
How much you pay can go higher or lower than the average in Fulton based on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire. But, after you've paid the upfront cost of installation, the payback for most homeowners is usually good, with a net average savings of about $14,000 over 20 years on energy bills.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Fulton
| Year | Return on Investment |
|---|---|
| 1 years | $-9,413 |
| 3 years | $-6,584 |
| 5 years | $-3,755 |
| 7 years | $-926 |
| 9 years | $1,902 |
| 11 years | $4,731 |
| 13 years | $7,560 |
| 15 years | $10,389 |
| 17 years | $13,217 |
| 19 years | $16,046 |
| 21 years | $18,875 |
| 23 years | $21,704 |
| 25 years | $24,532 |
Top Solar Installers in Fulton
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Hiring a solar panel installer can make your swap to solar power much easier. Companies can also have access to various kinds of the best solar panels and help you pick which one will be right for your home.
If you're on the hunt for a solar company in Fulton, we've compiled 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 Fulton
Factors that Affect Solar Panel Costs in Fulton
While the average cost of a solar system in Fulton is $10,820, your final cost may differ. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The kind of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Fulton homeowners opt to finance their solar panel systems to make paying for solar more affordable. When trying to figure 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
A final consideration when trying to evaluate the cost of solar for your home or business in Fulton is the company you hire to install your PV system. Similar to choosing a company to build a deck or pool, for example, there's no shortage of solar installers that provide a range of services at different price points. You may see national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $10,352 | 13.5 years |
| 8 kW | $2.83 | $15,822 | $14,113 | 13.2 years |
| 10 kW | $2.77 | $19,390 | $18,029 | 13.0 years |
| 12 kW | $2.71 | $22,803 | $22,100 | 12.7 years |
| 14 kW | $2.66 | $26,060 | $26,326 | 12.4 years |
| 16 kW | $2.60 | $29,163 | $30,707 | 12.2 years |
| 18 kW | $2.55 | $32,110 | $35,244 | 11.9 years |
| 20 kW | $2.49 | $34,902 | $39,935 | 11.7 years |
How to Save on Solar Panels
There are many companies to choose from in Fulton, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- Reputation: Your solar installer should have a sound 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.
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 Fulton, MD Solar Cost FAQs
How much does it cost to install solar panels in Fulton?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally 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 higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my power bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Fulton, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
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 higher level 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.
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.