Solar Panel Cost Guide in Ilchester, MD (2023 Update)
- Ilchester 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 Ilchester
Find out what the average cost of installing solar panels is in Ilchester.
While the national average of solar panels is $2.66 per watt, solar panels in Ilchester typically cost about 2.77. Using this figure, a typical 5.6-kW system would cost about $10,820 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Ilchester homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. With typical savings of about $14,000 on utility bills over 20 years, many homeowners in Ilchester find installing solar panels can be quite rewarding.
Click the button below to get connected to a top solar installer in your area for a personalized quote.
Solar savings over time in Ilchester
| 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 Ilchester
Although you can install solar panels by yourself, it requires extra effort and know-how. For that reason, most people choose to go with a solar panel installer. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives and by providing warranties and repairs.
Working with a vetted solar installer can help you make the most of your investment in solar. 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 Ilchester
Factors that Affect Solar Panel Costs in Ilchester
Although the average cost of a solar system in Ilchester is $10,820, your final 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 panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $2,770 per kilowatt in Ilchester. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Ilchester offer solar loans, which reduce your upfront costs of installing solar. Although solar loans make going solar more accessible for Ilchester homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Ilchester is the company you hire to install your solar system. Similar to choosing a company to install new cabinets, for example, there's no shortage of solar installers that offer a range of services at different price points. Additionally, some companies in Ilchester are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $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 available to you, 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: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Contract: Before you sign a contract with a solar installer, be sure to read it through completely 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.
- Solar Panel Brands: Different companies have different brands and types of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
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 Ilchester, MD Solar Cost FAQs
How much does it cost to install solar panels in Ilchester?
This is a tough question to answer exactly, because the cost depends on many 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. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Ilchester?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of 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 savings from going solar.
Does Ilchester have a net metering program?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates 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.
How many solar panels do I need to power 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 install between 20 and 35 panels to cover 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.