Solar Panel Cost Guide in Peppermill Village, MD (2023 Update)
- Peppermill Village Solar Installation Cost: $10,577
- 25-Year Savings: $12,317
- Payback Period: 11.6 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 Peppermill Village
We break down average solar pricing in Peppermill Village.
The average cost of a solar system in Peppermill Village is 2.77 per watt. To cover the typical energy needs of the average home in Peppermill Village, most homeowners require a 5.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $10,568, or $15,112 before the federal solar tax credit of 30% is applied.
The true cost of your system can be above or below the average in Peppermill Village depending on several factors, such as the kind of solar panels you choose and the solar installer you hire. With typical savings of about $16,000 on electricity bills over 20 years, many homeowners in Peppermill Village find installing solar panels can pay off big.
Click the button below to get connected to a highly rated solar panel company in Peppermill Village for a custom estimate.
Solar savings over time in Peppermill Village
| Year | Return on Investment |
|---|---|
| 1 years | $-8,871 |
| 3 years | $-5,459 |
| 5 years | $-2,047 |
| 7 years | $1,366 |
| 9 years | $4,778 |
| 11 years | $8,190 |
| 13 years | $11,602 |
| 15 years | $15,014 |
| 17 years | $18,426 |
| 19 years | $21,838 |
| 21 years | $25,250 |
| 23 years | $28,663 |
| 25 years | $32,075 |
Top Solar Installers in Peppermill Village
When going solar, many homeowners prefer to hire a solar installation company since handling can be a challenging project. Companies can also offer access to various kinds of the best solar panels and help you pick which one will be best for your family.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
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 Peppermill Village
Factors that Affect Solar Panel Costs in Peppermill Village
The cost of installing a solar system in Peppermill Village can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar 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 around $2,770. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Peppermill Village, 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
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Peppermill Village homeowners decide to finance their solar panel systems to offset upfront costs. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you select will influence your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that offers the products, warranties and services you're looking for and also fits within your budget.
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
There are a large number of companies available in Peppermill Village, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
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 Peppermill Village, MD Solar Cost FAQs
What is the average cost of installing solar panels in Peppermill Village?
The average cost of solar panels in Peppermill Village 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 stuff like the type 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 Peppermill Village?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The drawback 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can solar panels eliminate my electricity 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 $839.39 per year.
How long do solar panels last in Peppermill Village?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.