Solar Panel Cost Guide in Pikesville, MD (2024 Update)
- Pikesville Solar Installation Cost: $13,849
- 25-Year Savings: $10,057
- Payback Period: 16.6 Years
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Average Cost of Solar Panels in Pikesville
Find out what the average cost of a solar system is in Pikesville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Pikesville, the typical cost of a solar system is 4 per watt.To cover the typical energy needs of the average home in Pikesville, most homeowners require a 5.6-kilowatt system. Using the figure above, a solar installation costs about $13,849, or $19,804 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of making the switch to solar can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what company you go with.With average savings of about $14,000 on energy bills over 20 years, many homeowners in Pikesville find investing in solar can be quite rewarding.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Pikesville
| 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 Pikesville
When switching to solar energy, many homeowners prefer to use a solar installation company since handling can be a difficult project. Another upside of working with a solar installer is that they can help you make the most of your return of investment by cutting back on future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- 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
- 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
- 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 Pikesville
Factors that Affect Solar Panel Costs in Pikesville
The cost of installing a solar system in Pikesville can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.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, more efficient panels could save you more in the long run on your energy bills. In addition, add-on products, like solar batteries, can bump up your total well above the Pikesville average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Pikesville homeowners decide to finance their solar panel systems to make going solar more affordable.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can affect how much you pay. Pikesville’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Pikesville know more 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 | $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
There are a large number of companies available in Pikesville, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Reputation: Make sure your solar installer 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 the EcoWatch team.
- Contract: Review the contract terms carefully to make sure you understand the overall cost, completion timeline rebates and warranties.
Best National Provider
SunPower
- 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
- 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
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Pikesville, MD Solar Cost FAQs
How much does it cost to install solar panels in Pikesville?
This is a tough question to answer precisely, because the cost depends on a few different 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. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $747.69 per year.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.