Solar Panel Cost Guide in Ocean Pines, MD (2024 Update)
- Ocean Pines Solar Installation Cost: $12,650
- 25-Year Savings: $15,384
- Payback Period: 12.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Ocean Pines
Let’s take a look at the average cost of solar panels in Ocean Pines.
The average cost of solar panels in Ocean Pines is 4 per watt.The average solar panel system size in Ocean Pines is around 5.1 kilowatts, meaning a cost of about $12,650 for a solar installation, or $18,090 before the 0 federal solar tax credit is applied.
The true price you pay can go above or below the average in Ocean Pines based on a few factors, such as the model of solar panels you choose and the solar company you hire.For many homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Ocean Pines see about $19,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Ocean Pines for a quote for your home.
Solar savings over time in Ocean Pines
| 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 Pines
When switching to solar energy, many homeowners choose to go with a solar installation company since overseeing your solar installation yourself can be a challenging project. Another good thing about choosing a vetted solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
If you’d like to go solar but still aren’t sure which solar system installer to go with, here are our recommendations for providers nearby:
Best for Leasing
Sunrun
- 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 Ocean Pines
Factors that Affect Solar Panel Costs in Ocean Pines
The cost of installing a solar system in Ocean Pines can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with better 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.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Ocean Pines, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Ocean Pines have solar loans, which reduce the initial cost of installing solar.Although solar loans make adopting solar energy more accessible for Ocean Pines homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Ocean Pines is the company you get to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that provide a range of services for different budgets.Additionally, some companies in Ocean Pines have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 panel company you go with 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 several important things you should take into account, including:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can check your installer’s reputation is by reading reviews.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
- Solar Panel Brands: Different companies carry different brands and models of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: When going solar, it’s crucial to maintain an open line of communication with your solar company. Confirm that you understand how the installation process works and the project completion timeline.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Ocean Pines, MD Solar Cost FAQs
How much does it cost to install solar panels in Ocean Pines?
This is a difficult question to answer precisely, because the cost depends on a variety of 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 be more expensive if you want additional 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 expensive solar panels.
Are solar panels free in Ocean Pines?
You can’t get solar panels for free in Ocean Pines. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact the value of my home?
Solar panels can increase the value of your home 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% with a solar installation."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out 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 home 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.