Solar Panel Cost Guide in Peppermill Village, MD (Mar 2023)
- Peppermill Village Solar Installation Cost: $10,568
- 25-Year Savings: $12,326
- Payback Period: 11.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Peppermill Village
Find out what the average cost of installing solar panels is in Peppermill Village.
While the national average of solar panels is $2.66 per watt, solar panels in Peppermill Village typically cost around 2.77. Using this figure, a typical 5.5-kW system would cost about $10,568 before the 30% federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you will most likely differ based on factors unique to your home and what company you choose to go with. Many homeowners find going solar is a sound investment. The average homeowner in Peppermill Village can save around $16,000 on their power bills over 20 years.
You can click the button below to get connected with a vetted solar company in Peppermill Village for a quote for your home.
Solar savings over time in Peppermill Village
| Year | Return on Investment |
|---|---|
| 1 years | $-9,652 |
| 3 years | $-7,820 |
| 5 years | $-5,989 |
| 7 years | $-4,157 |
| 9 years | $-2,326 |
| 11 years | $-494 |
| 13 years | $1,337 |
| 15 years | $3,169 |
| 17 years | $5,000 |
| 19 years | $6,832 |
| 21 years | $8,663 |
| 23 years | $10,495 |
| 25 years | $12,326 |
Top Solar Installers in Peppermill Village
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with a solar company can make your swap to solar power much easier. Plus, if you're unsure what type of solar panels and equipment you may need, a solar installer can help you find the right equipment for you after a site survey and consultation.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Peppermill Village
Factors that Affect Solar Panel Costs in Peppermill Village
There are many criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,770. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your energy bills. In addition, add-on products, like solar batteries, can bring your total well above the Peppermill Village average.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable option because they lower your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also increases your total costs, so it's important to keep that in mind as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar panel installer you pick will affect your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $13,082 | 12.0 years |
| 8 kW | $2.83 | $15,822 | $17,753 | 11.8 years |
| 10 kW | $2.77 | $19,390 | $22,579 | 11.6 years |
| 12 kW | $2.71 | $22,803 | $27,561 | 11.3 years |
| 14 kW | $2.66 | $26,060 | $32,697 | 11.1 years |
| 16 kW | $2.60 | $29,163 | $37,989 | 10.9 years |
| 18 kW | $2.55 | $32,110 | $43,435 | 10.6 years |
| 20 kW | $2.49 | $34,902 | $49,037 | 10.4 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar company, make sure to look it over fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- 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 significant role in the company you opt for.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Peppermill Village, MD Solar Cost FAQs
What is the average cost of installing solar panels in Peppermill Village?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Solar panels can increase your home value remarkably 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 a solar system."
What solar power system size is right for my home?
To figure out how many solar panels 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 household 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.