Solar Panel Cost Guide in Ocean City, MD (2024 Update)
- Ocean City Solar Installation Cost: $12,650
- 25-Year Savings: $15,384
- Payback Period: 12.5 Years
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Average Cost of Solar Panels in Ocean City
Let’s take a look at the average cost of solar in Ocean City.
The average cost of a solar system in Ocean City is 4 per watt.Because a 5.1-kW system is needed to cover the energy needs of a typical home in Ocean City, the average price of going solar will be about $12,650 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy consumption, the type of solar system you want, your solar contractor and more.Many homeowners find adopting solar power is a sound investment. The average homeowner in Ocean City can save around $19,000 on their electricity bills over 20 years.
To receive a free quote from a highly rated solar installation company in Ocean City, you can click the button below.
Solar savings over time in Ocean City
| Year | Return on Investment |
|---|---|
| 1 years | $-10,937 |
| 3 years | $-7,511 |
| 5 years | $-4,085 |
| 7 years | $-659 |
| 9 years | $2,767 |
| 11 years | $6,193 |
| 13 years | $9,618 |
| 15 years | $13,044 |
| 17 years | $16,470 |
| 19 years | $19,896 |
| 21 years | $23,322 |
| 23 years | $26,748 |
| 25 years | $30,174 |
Top Solar Installers in Ocean City
Installing solar panels yourself can be a stressful project, which is why using a solar installation company is a good option for many homeowners. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you're on the hunt for a solar company in Ocean City, we've 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 Ocean City
Factors that Affect Solar Panel Costs in Ocean City
For many Ocean City homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Ocean City, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require 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.There are a lot of different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Ocean City to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time due to interest.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can impact how much you pay. Ocean City’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $14,252 | 13.0 years |
| 8 kW | $3.61 | $20,220 | $19,400 | 12.8 years |
| 10 kW | $3.54 | $24,780 | $24,745 | 12.5 years |
| 12 kW | $3.47 | $29,141 | $30,289 | 12.3 years |
| 14 kW | $3.40 | $33,304 | $36,031 | 12.0 years |
| 16 kW | $3.33 | $37,269 | $41,971 | 11.8 years |
| 18 kW | $3.26 | $41,036 | $48,109 | 11.5 years |
| 20 kW | $3.19 | $44,604 | $54,446 | 11.3 years |
How to Save on Solar Panels
The solar company you opt for will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Contract: It’s important to read your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Solar Panel Brands: The brand of solar panel you’d like plays a part in which installer you should go with, since different companies provide different panels.
- Warranty: If you’re worried about the longevity of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Ocean City, MD Solar Cost FAQs
What is the average cost of installing solar panels in Ocean City?
The average cost of solar panels in Ocean City is about $17,700 for a 5-kW system and $35,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Ocean City?
Solar panels aren’t free in Ocean City, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $990.50 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires 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.