Solar Panel Cost Guide in Severna Park, MD (2023 Update)
- Severna Park Solar Installation Cost: $10,354
- 25-Year Savings: $10,540
- Payback Period: 12.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Severna Park
We go over average solar pricing in Severna Park.
The average cost of a solar panel system in Severna Park is 2.77 per watt. Because a 5.3-kW system is needed to cover the energy usage of a typical home in Severna Park, the average price of going solar will be about $10,354 after claiming the federal solar tax credit of 30%.
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 want to go with. Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Severna Park can save around $15,000 on their energy bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Severna Park
| Year | Return on Investment |
|---|---|
| 1 years | $-9,518 |
| 3 years | $-7,847 |
| 5 years | $-6,175 |
| 7 years | $-4,504 |
| 9 years | $-2,832 |
| 11 years | $-1,161 |
| 13 years | $511 |
| 15 years | $2,182 |
| 17 years | $3,854 |
| 19 years | $5,525 |
| 21 years | $7,197 |
| 23 years | $8,868 |
| 25 years | $10,540 |
Top Solar Installers in Severna Park
Trying to put up solar panels on your own can be a time-consuming task, which is why hiring a solar installation company is a good option for many homeowners. Another advantage of going with a solar installer is that they can help you maximize your return of investment by bringing down your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
If you'd like to switch to solar energy but still aren't sure which solar system company to go with, here are our suggestions for providers in Severna Park:
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 Severna Park
Factors that Affect Solar Panel Costs in Severna Park
For many Severna Park homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Severna Park, 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
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay around $2,770 per kilowatt in Severna Park. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Severna Park, 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a popular route because they cut back your upfront costs and let you pay for your system over five to seven years on average. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you hire to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies in Severna Park, and each can charge different amounts for labor and equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 solar panel 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 difficult, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: The kind of solar panel you want to get plays a part in which installer you should go with, since different companies offer different panels.
- Contract: Before you sign a contract with a solar installer, 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 the warranty covers and if there are any guarantees about energy production.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
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 Severna Park, MD Solar Cost FAQs
What is the average cost of installing solar panels in Severna Park?
The average cost of solar panels in Severna Park 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 model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $781.87 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.