Solar Panel Cost Guide in South Laurel, MD (2023 Update)
- South Laurel Solar Installation Cost: $10,568
- 25-Year Savings: $10,898
- Payback Period: 12.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in South Laurel
Find out how much it might cost to install solar panels in South Laurel.
The national average cost of solar panels is $2.66 per watt, but in South Laurel it's 2.77 per watt. The average South Laurel homeowner needs a 5.5-kilowatt system, which would cost about $10,568 with the federal tax credit, or $15,112 before the 30% tax credit is applied.
How much you pay can go higher or lower than the average in South Laurel based on several factors, such as the kind of solar panels you choose and the solar installer you hire. But, once you've paid the initial cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $15,000 over 20 years on utility bills.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in South Laurel
| Year | Return on Investment |
|---|---|
| 1 years | $-9,709 |
| 3 years | $-7,992 |
| 5 years | $-6,274 |
| 7 years | $-4,557 |
| 9 years | $-2,840 |
| 11 years | $-1,123 |
| 13 years | $594 |
| 15 years | $2,312 |
| 17 years | $4,029 |
| 19 years | $5,746 |
| 21 years | $7,463 |
| 23 years | $9,180 |
| 25 years | $10,898 |
Top Solar Installers in South Laurel
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Using an installer can make your switch to solar power much easier. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 South Laurel
Factors that Affect Solar Panel Costs in South Laurel
For many South Laurel homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in South Laurel, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in South Laurel, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by around $2,770 for each additional kilowatt you need. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many South Laurel homeowners opt to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also adds to your total costs, so it's important to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can affect how much you pay. South Laurel's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually 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 | $11,511 | 12.8 years |
| 8 kW | $2.83 | $15,822 | $15,658 | 12.6 years |
| 10 kW | $2.77 | $19,390 | $19,961 | 12.3 years |
| 12 kW | $2.71 | $22,803 | $24,418 | 12.1 years |
| 14 kW | $2.66 | $26,060 | $29,031 | 11.8 years |
| 16 kW | $2.60 | $29,163 | $33,799 | 11.6 years |
| 18 kW | $2.55 | $32,110 | $38,721 | 11.3 years |
| 20 kW | $2.49 | $34,902 | $43,799 | 11.1 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on 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:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Solar Panel Brands: Different companies will offer various brands and kinds of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
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 South Laurel, MD Solar Cost FAQs
What is the average cost of installing solar panels in South Laurel?
The average cost of solar panels in South Laurel is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in South Laurel?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future utility bills.
How long do solar panels last in South Laurel?
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 level 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.