Solar Panel Cost Guide in Silver Hill, MD (2025 Update)
- Silver Hill Solar Installation Cost: $13,517
- 25-Year Savings: $12,317
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in Silver Hill
Let’s have a look at the average cost of solar in Silver Hill.
In Silver Hill, solar panels cost about 4 per watt on average.To account for the typical energy needs of the average home in Silver Hill, most homeowners require a 5.5-kilowatt system. Using the figure above, a solar installation costs about $13,517, or $19,329 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 solar panels. The actual cost of going solar can vary based on a few factors, such as how many panels you need, your energy usage and what solar installer you go with.But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $16,000 over 20 years on energy bills.
Click the button below to get connected to a top solar company in your area for a customized estimate.
Solar savings over time in Silver Hill
| Year | Return on Investment |
|---|---|
| 1 years | $-11,811 |
| 3 years | $-8,399 |
| 5 years | $-4,987 |
| 7 years | $-1,575 |
| 9 years | $1,837 |
| 11 years | $5,250 |
| 13 years | $8,662 |
| 15 years | $12,074 |
| 17 years | $15,486 |
| 19 years | $18,898 |
| 21 years | $22,310 |
| 23 years | $25,722 |
| 25 years | $29,135 |
Top Solar Installers in Silver Hill
Although it's possible to install solar panels yourself, it takes extra effort and handiness. That's one of the reasons almost all homeowners choose to go with a solar panel installer. The payback period of solar panels will vary based on factors like your roof configuration and energy consumption, but working with a solar company can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
If you're looking for a solar company in Silver Hill, we've compiled a list of our top suggestions here:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Silver Hill
Factors that Affect Solar Panel Costs in Silver Hill
For many Silver Hill homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Silver Hill, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,540. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Silver Hill to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest.However, the interest on solar loans also increases your overall costs, so it’s crucial to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can play a part in determining your pricing. Silver Hill’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Silver Hill are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $9,719 | 15.4 years |
| 8 kW | $3.61 | $20,220 | $13,355 | 15.1 years |
| 10 kW | $3.54 | $24,780 | $17,189 | 14.8 years |
| 12 kW | $3.47 | $29,141 | $21,222 | 14.5 years |
| 14 kW | $3.40 | $33,304 | $25,453 | 14.2 years |
| 16 kW | $3.33 | $37,269 | $29,882 | 13.9 years |
| 18 kW | $3.26 | $41,036 | $34,509 | 13.6 years |
| 20 kW | $3.19 | $44,604 | $39,335 | 13.3 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose greatly influences your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can research your installer’s reputation is by reading reviews.
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before deciding.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Silver Hill, MD Solar Cost FAQs
What is the average cost of installing solar panels in Silver Hill?
This is a hard question to answer precisely, because the cost depends on many factors. Generally 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 cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Are solar panels free in Silver Hill?
You can’t get solar panels for free in Silver Hill. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Does Silver Hill have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
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 should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having 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.