Solar Panel Cost Guide in Owings Mills, MD (2024 Update)

  • Owings Mills Solar Installation Cost: $13,849
  • 25-Year Savings: $10,057
  • Payback Period: 16.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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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 Owings Mills

We break down average solar pricing in Owings Mills.

The national average cost of solar panels is $2.66 per watt, but in Owings Mills it’s 4 per watt.The average solar panel system size in Owings Mills is around 5.6 kilowatts, meaning a cost of about $13,849 for a solar installation, or $19,804 before the 0 federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average Owings Mills homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the significant upfront cost, the average Owings Mills homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the positives of solar.

Click the button below to get connected to a highly rated solar company in your area for a custom estimate.

Solar savings over time in Owings Mills

Year Return on Investment
1 years $-12,435
3 years $-9,606
5 years $-6,777
7 years $-3,949
9 years $-1,120
11 years $1,709
13 years $4,538
15 years $7,366
17 years $10,195
19 years $13,024
21 years $15,853
23 years $18,681
25 years $21,510

Top Solar Installers in Owings Mills

Installing solar panels yourself can be a time-consuming task, which is why hiring a solar installer is a good option for many homeowners. Solar warranties and repairs are usually included in the cost of installation when you hire a solar company too, which can save you more money after your initial investment.

If you're searching for a solar installer in Owings Mills, the EcoWatch team has compiled a list of our top suggestions here:

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 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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • 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 Owings Mills

Factors that Affect Solar Panel Costs in Owings Mills

For many Owings Mills homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Owings Mills, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you’ll pay, which we'll go over below.

Solar Equipment

When it comes to estimating the cost of a solar panel system in Owings Mills, 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 usage, which you can gauge by looking at past power bills. Your total cost can increase by around $3,540 for each additional kilowatt you need.The model of solar panels and equipment you get is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions 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 researching a solar system that falls within your budget.

Solar Financing Terms

Most solar installers in Owings Mills offer solar loans, which reduce your upfront costs of installing a solar system.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.

Solar Panel Installation Company

The last major cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Owings Mills, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions 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 $3.68 $15,463 $6,968 17.2 years
8 kW $3.61 $20,220 $9,687 16.9 years
10 kW $3.54 $24,780 $12,605 16.6 years
12 kW $3.47 $29,141 $15,720 16.2 years
14 kW $3.40 $33,304 $19,034 15.9 years
16 kW $3.33 $37,269 $22,546 15.6 years
18 kW $3.26 $41,036 $26,257 15.2 years
20 kW $3.19 $44,604 $30,165 14.9 years

How to Save on Solar Panels

Since the kind of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely provide good-quality solar panel installation and expertise.
  • Warranty: If you’re concerned about the durability of your solar system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Solar Panel Brands: Different companies offer different brands and kinds of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
  • Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.

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 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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Owings Mills, MD Solar Cost FAQs

How much does it cost to install solar panels in Owings Mills?

This is a difficult question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $17,700 for a 5-kW system and $35,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.

Is cost the most important thing to consider when buying solar panels?

Cost is certainly 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 Owings Mills?

Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.

How many solar panels should I get to power 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.

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