Solar Panel Cost Guide in Maryland City, MD (2023 Update)
- Maryland City Solar Installation Cost: $10,363
- 25-Year Savings: $10,531
- Payback Period: 12.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Maryland City
Let's have a look at the average cost of solar panels in Maryland City.
Although the national average of solar panels is $2.66 per watt, solar panels in Maryland City generally cost around 2.77. Using this figure, a typical 5.3-kW system would cost about $10,354 before the 30% federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Maryland City based on a few factors, such as the brand of solar panels you choose and the solar contractor you hire. With average savings of about $15,000 on utility bills over 20 years, many homeowners in Maryland City find going solar has a decent ROI.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Maryland City
| Year | Return on Investment |
|---|---|
| 1 years | $-10,293 |
| 3 years | $-10,154 |
| 5 years | $-10,015 |
| 7 years | $-9,875 |
| 9 years | $-9,736 |
| 11 years | $-9,597 |
| 13 years | $-9,458 |
| 15 years | $-9,318 |
| 17 years | $-9,179 |
| 19 years | $-9,040 |
| 21 years | $-8,900 |
| 23 years | $-8,761 |
| 25 years | $-8,622 |
Top Solar Installers in Maryland City
Although you can install solar panels on your own, it takes extra labor and knowledge. Because of that, most people choose to hire a solar panel installer. The payback period on a solar system will vary based on factors like your roof configuration and energy needs, but going with a solar company can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Maryland City
Factors that Affect Solar Panel Costs in Maryland City
Even though the average cost of a solar system in Maryland City is $10,354, your actual cost may differ. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial 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 energy needs. The brand of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Maryland City to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal 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 solar installer you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies in Maryland City, and each can charge different amounts 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 come with an above-average cost. It's best to do some research and go with the company that provides the products, warranties and services you want and also fit into 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 | $11,357 | 12.9 years |
| 8 kW | $2.83 | $15,822 | $15,453 | 12.6 years |
| 10 kW | $2.77 | $19,390 | $19,704 | 12.4 years |
| 12 kW | $2.71 | $22,803 | $24,110 | 12.2 years |
| 14 kW | $2.66 | $26,060 | $28,671 | 11.9 years |
| 16 kW | $2.60 | $29,163 | $33,387 | 11.7 years |
| 18 kW | $2.55 | $32,110 | $38,259 | 11.4 years |
| 20 kW | $2.49 | $34,902 | $43,285 | 11.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: When reading over your solar installer's contract, ask questions 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.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely provide quality solar panel installation and expertise.
- Solar Panel Brands: The brand of solar panel you want to get plays a part in which company you should opt for, since different companies offer different panels.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Maryland City, MD Solar Cost FAQs
How much does it cost to install solar panels in Maryland City?
This is a hard question to answer precisely, because the cost depends on a few different 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 cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Maryland City?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The drawback 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 option if you want to get the most savings.
Does Maryland City have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.