Solar Panel Cost Guide in Jessup, MD (2023 Update)
- Jessup Solar Installation Cost: $10,587
- 25-Year Savings: $10,307
- Payback Period: 12.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Jessup
See how much it might cost to make the switch to solar in Jessup.
In Jessup, solar panels cost about 2.77 per watt on average. To cover the typical energy needs of the average home in Jessup, most homeowners require a 5.5-kilowatt system. Using the figure above, a solar installation costs about $10,587, or $15,139 before the federal solar tax credit of 30% is applied.
How much you pay can go above or below the average in Jessup depending on several factors, such as the type of solar panels you choose and the solar company you hire. Even with the large upfront cost, the average Jessup homeowner can save about $15,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Jessup
| Year | Return on Investment |
|---|---|
| 1 years | $-9,751 |
| 3 years | $-8,080 |
| 5 years | $-6,408 |
| 7 years | $-4,737 |
| 9 years | $-3,065 |
| 11 years | $-1,394 |
| 13 years | $278 |
| 15 years | $1,949 |
| 17 years | $3,621 |
| 19 years | $5,292 |
| 21 years | $6,964 |
| 23 years | $8,636 |
| 25 years | $10,307 |
Top Solar Installers in Jessup
Installing solar panels on your own can be a dangerous task, which is why hiring a solar installation company is a good option for many homeowners. The expertise that solar installers offer can be invaluable as well, particularly if you don't quite know what brand of solar equipment would be right for your home.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some in Jessup:
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 Jessup
Factors that Affect Solar Panel Costs in Jessup
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Jessup: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
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 energy your household uses, the larger your system will likely need to be. You can expect to pay around $2,770 per kilowatt in Jessup. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Jessup homeowners opt to finance their solar panel systems to make paying for solar more affordable. Although solar loans make adopting solar energy more accessible for Jessup homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Jessup, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $10,854 | 13.2 years |
| 8 kW | $2.83 | $15,822 | $14,783 | 12.9 years |
| 10 kW | $2.77 | $19,390 | $18,866 | 12.7 years |
| 12 kW | $2.71 | $22,803 | $23,105 | 12.4 years |
| 14 kW | $2.66 | $26,060 | $27,499 | 12.2 years |
| 16 kW | $2.60 | $29,163 | $32,047 | 11.9 years |
| 18 kW | $2.55 | $32,110 | $36,751 | 11.7 years |
| 20 kW | $2.49 | $34,902 | $41,610 | 11.4 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose greatly affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: When reading over 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 such as a system component breaking or the company going out of business.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a good company.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
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 Jessup, MD Solar Cost FAQs
What is the average cost of installing solar panels in Jessup?
This is a hard question to answer exactly, because the cost depends on a variety of 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 be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, 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 Jessup?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Do solar panels increase your property value?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs 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 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.