Solar Panel Cost Guide in Lochearn, MD (Feb 2023)

  • Lochearn Solar Installation Cost: $10,839
  • 25-Year Savings: $10,055
  • Payback Period: 13.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lochearn

Here's how much it might cost to install solar panels in Lochearn.

The national average cost of solar panels is $2.66 per watt, but in Lochearn it's $3 per watt. To cover the typical energy needs of the average home in Lochearn, most homeowners require a 5.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $10,839, or $8,021 after the federal solar tax credit of 30% is applied.

Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy consumption, the type of solar panels you want, your solar contractor and more. For many homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Lochearn see about $14,000 in savings on utility bills over 20 years.

Click the button below to get connected to a vetted solar installer in your area for a custom estimate.

Solar savings over time in Lochearn

Year Return on Investment
1 years $-10,003
3 years $-8,332
5 years $-6,660
7 years $-4,989
9 years $-3,317
11 years $-1,646
13 years $26
15 years $1,697
17 years $3,369
19 years $5,040
21 years $6,712
23 years $8,383
25 years $10,055

Top Solar Installers in Lochearn

When switching to solar energy, many homeowners choose to go with a solar installer since putting up a solar system yourself can be a time-consuming project. Plus, if you aren't sure what kind of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.

If you'd like to go solar but still aren't certain which solar panel company to go with, here are our suggestions for providers near you:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Lochearn

Factors that Affect Solar Panel Costs in Lochearn

There are several criteria that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.

Solar Equipment

When it comes to estimating the price of a solar system in Lochearn, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in Lochearn, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.

Solar Panel Installation Company

Lastly, the company you get to install your solar panel system can affect the cost. Lochearn's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, 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 $10,331 13.5 years
8 kW $2.83 $15,822 $14,085 13.2 years
10 kW $2.77 $19,390 $17,995 13.0 years
12 kW $2.71 $22,803 $22,059 12.7 years
14 kW $2.66 $26,060 $26,278 12.4 years
16 kW $2.60 $29,163 $30,653 12.2 years
18 kW $2.55 $32,110 $35,182 11.9 years
20 kW $2.49 $34,902 $39,867 11.7 years

How to Save on Solar Panels

The solar panel company you opt for will impact 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 a few important things you should keep in mind, including:

  • Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
  • Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases provide good-quality solar panel installation and expertise.
  • Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Lochearn, MD Solar Cost FAQs

What is the average cost of installing solar panels in Lochearn?

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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.

What other factors should I consider other than cost when buying solar panels?

Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Is it worth going solar in Lochearn?

Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.

How often do you have to replace solar panels?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.

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