Solar Panel Cost Guide in North East, MD (2024 Update)
- North East Solar Installation Cost: $13,786
- 25-Year Savings: $12,415
- Payback Period: 14.9 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in North East
Let’s take a look at the average cost of solar in North East.
Currently, the national average cost of solar panels is $2.66 per watt. However, in North East, the typical cost of a solar system is 4 per watt.The average North East homeowner needs a 5.6-kilowatt system, which would cost about $13,786 with the federal tax credit, or $19,714 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy needs, the type of equipment you want to get, your solar contractor and more.With typical savings of about $16,000 on power bills over 20 years, many homeowners in North East find installing solar panels 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 North East
Year | Return on Investment |
---|---|
1 years | $-12,073 |
3 years | $-8,647 |
5 years | $-5,221 |
7 years | $-1,795 |
9 years | $1,631 |
11 years | $5,057 |
13 years | $8,483 |
15 years | $11,909 |
17 years | $15,334 |
19 years | $18,760 |
21 years | $22,186 |
23 years | $25,612 |
25 years | $29,038 |
Top Solar Installers in North East
Installing solar panels yourself can be a dangerous project, which is why using a solar installation company is a good option for many homeowners. Solar warranties and repairs are usually included in the cost of installation when you hire a solar contractor as well, which can save you more money over time.
If you're searching for a solar installer in North East, the EcoWatch team has organized a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 North East
Factors that Affect Solar Panel Costs in North East
For many North East homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in North East, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,540.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like North East, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in North East offer solar loans, which reduce the initial cost of installing solar panels.While solar loans make going solar more accessible for North East homeowners, they can also increase 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
Finally, the company you choose to install your solar panels can impact the cost. North East’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — 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 find a company that provides the products, warranties and services you’re looking for 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 | $3.68 | $15,463 | $9,561 | 15.4 years |
8 kW | $3.61 | $20,220 | $13,145 | 15.2 years |
10 kW | $3.54 | $24,780 | $16,926 | 14.9 years |
12 kW | $3.47 | $29,141 | $20,906 | 14.6 years |
14 kW | $3.40 | $33,304 | $25,085 | 14.3 years |
16 kW | $3.33 | $37,269 | $29,461 | 14.0 years |
18 kW | $3.26 | $41,036 | $34,036 | 13.7 years |
20 kW | $3.19 | $44,604 | $38,809 | 13.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Installation Process: When making the switch to solar, it’s important to keep an open line of communication with your solar panel company. Make sure you understand how the installation process works and the completion timeline.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 North East, MD Solar Cost FAQs
How much does it cost to install solar panels in North East?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $17,700 for a 5-kW system and $35,400 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in North East?
Leasing solar panels can be an option if you are unable to pay upfront or secure 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 financial benefits from going solar.
Do solar panels increase your property value?
Solar panels can increase your home value significantly 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 solar panels."
What solar power system size is right for my home?
To figure out how many solar panels 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 usually 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.