Solar Panel Cost Guide in Fulton, MD (2023 Update)
- Fulton Solar Installation Cost: $10,820
- 25-Year Savings: $10,074
- Payback Period: 13.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Fulton
Find out what the average cost of solar panels are in Fulton.
The average cost of a solar panel system in Fulton is 2.77 per watt. The average Fulton 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.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary depending on a few factors, such as what size system you need, your energy usage and what solar installer you go with. But, once you've paid the initial cost of installation, the payback for most homeowners is quite good, with a net average savings of about $14,000 over 20 years on power bills.
To get a free quote from a highly rated solar company in Fulton, you can click the button below.
Solar savings over time in Fulton
| Year | Return on Investment |
|---|---|
| 1 years | $-9,984 |
| 3 years | $-8,312 |
| 5 years | $-6,641 |
| 7 years | $-4,969 |
| 9 years | $-3,298 |
| 11 years | $-1,626 |
| 13 years | $45 |
| 15 years | $1,717 |
| 17 years | $3,388 |
| 19 years | $5,060 |
| 21 years | $6,731 |
| 23 years | $8,403 |
| 25 years | $10,074 |
Top Solar Installers in Fulton
When switching to solar energy, many homeowners decide to go with a solar company since installing a solar system yourself can be a challenging project. Companies can also offer access to quality options of the best solar panels and help you choose which one will be right for your home.
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:
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
Though the average cost of a solar system in Fulton is $10,820, your actual cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the price of solar panels in Fulton, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can determine by looking at past energy bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. 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 be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Fulton, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. 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 securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Fulton, you'll have many options to choose from, but each comes at various price points for labor and equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and decide on the company that provides the products, warranties and services you want and also is within your budget.
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
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Even though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
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
What is the average cost of installing solar panels in Fulton?
The average cost of solar panels in Fulton is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Fulton?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Does Fulton have a net metering program?
Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.