Solar Panel Cost Guide in South Laurel, MD (2024 Update)
- South Laurel Solar Installation Cost: $13,517
- 25-Year Savings: $10,888
- Payback Period: 15.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in South Laurel
Let’s have a look at the average cost of solar panels in South Laurel.
The average cost of solar panels in South Laurel is 4 per watt.The average South Laurel homeowner needs a 5.5-kilowatt system, which would cost about $13,517 with the federal tax credit, or $19,329 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of installing solar panels can vary based on a few factors, such as what size system you need, your energy usage and what solar installer you go with.But, after you've paid the upfront cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $15,000 over 20 years on electricity bills.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in South Laurel
| Year | Return on Investment |
|---|---|
| 1 years | $-12,103 |
| 3 years | $-9,274 |
| 5 years | $-6,445 |
| 7 years | $-3,616 |
| 9 years | $-788 |
| 11 years | $2,041 |
| 13 years | $4,870 |
| 15 years | $7,698 |
| 17 years | $10,527 |
| 19 years | $13,356 |
| 21 years | $16,185 |
| 23 years | $19,013 |
| 25 years | $21,842 |
Top Solar Installers in South Laurel
When making the switch to solar, many homeowners prefer to use a solar installation company since putting up solar panels yourself can be a difficult project. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 South Laurel
Factors that Affect Solar Panel Costs in South Laurel
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in South Laurel: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels 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 usage, which you can gauge by looking at past energy bills. Your overall cost can increase by around $3,540 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like South Laurel, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of 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
Most solar installers in South Laurel have solar loans, which reduce the initial cost of installing solar.However, the interest on solar loans also adds to your total costs, so it’s vital to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in South Laurel, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that offers the products, warranties and services you want 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 | $3.68 | $15,463 | $8,148 | 16.4 years |
| 8 kW | $3.61 | $20,220 | $11,260 | 16.1 years |
| 10 kW | $3.54 | $24,780 | $14,571 | 15.7 years |
| 12 kW | $3.47 | $29,141 | $18,080 | 15.4 years |
| 14 kW | $3.40 | $33,304 | $21,787 | 15.1 years |
| 16 kW | $3.33 | $37,269 | $25,692 | 14.8 years |
| 18 kW | $3.26 | $41,036 | $29,796 | 14.5 years |
| 20 kW | $3.19 | $44,604 | $34,097 | 14.2 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: The type of solar panel you’d like to install plays a part in which installer you should opt for, since different companies offer different panels.
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 South Laurel, MD Solar Cost FAQs
How much does it cost to install solar panels in South Laurel?
This is a difficult question to answer precisely, because the cost depends on a variety of 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 extra solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in South Laurel?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The downside 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
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 give you credit toward your future energy bills.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.