Solar Panel Cost Guide in Parole, MD (2023 Update)
- Parole Solar Installation Cost: $10,363
- 25-Year Savings: $10,531
- Payback Period: 12.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Parole
See how much it might cost to install solar panels in Parole.
The average cost of solar panels in Parole is 2.77 per watt. To cover the typical energy needs of the average home in Parole, most homeowners require a 5.3-kilowatt system. Using the figure above, a solar installation costs around $10,354, or $14,806 before the federal solar tax credit of 30% is applied.
The true cost of your system can be above or below the average in Parole based on a few factors, such as the type of solar panels you choose and the solar installer you hire. For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $15,000 in savings on energy bills over 20 years.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Parole
| Year | Return on Investment |
|---|---|
| 1 years | $-8,949 |
| 3 years | $-6,120 |
| 5 years | $-3,291 |
| 7 years | $-462 |
| 9 years | $2,366 |
| 11 years | $5,195 |
| 13 years | $8,024 |
| 15 years | $10,852 |
| 17 years | $13,681 |
| 19 years | $16,510 |
| 21 years | $19,339 |
| 23 years | $22,167 |
| 25 years | $24,996 |
Top Solar Installers in Parole
Trying to install solar panels yourself can be a challenging project, which is why hiring a solar installer is a good option for many homeowners. Plus, if you'd like to maximize your investment in solar, using a solar company can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives and net metering programs.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Parole
Factors that Affect Solar Panel Costs in Parole
Even though the average cost of a solar system in Parole is $10,354, your final cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
When it comes to estimating the price of a solar panel system in Parole, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by about $2,770 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Parole, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, 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
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Parole, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your total costs, so it's important to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Parole is the company you get to install your PV system. Similar to choosing a company to renovate your kitchen, for example, you'll have many options for solar installers that offer a range of services for different budgets. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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 | $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
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely provide high-quality solar panel installation and expertise.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: It's important to read your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
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 Parole, MD Solar Cost FAQs
How much does it cost to install solar panels in Parole?
The average cost of solar panels in Parole is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Parole?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The downside 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 way to go if you want to get the most savings.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
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 requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.