Solar Panel Cost Guide in St. James, MD (2023 Update)
- St. James Solar Installation Cost: $11,072
- 25-Year Savings: $5,265
- Payback Period: 16.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in St. James
We break down average solar pricing in St. James.
While the national average of solar panels is $2.66 per watt, solar panels in St. James typically cost around 2.77. Using this figure, a typical 5.7-kW system would cost about $11,072 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of St. James homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. With average savings of about $11,000 on utility bills over 20 years, many homeowners in St. James find investing in solar has a decent ROI.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in St. James
| Year | Return on Investment |
|---|---|
| 1 years | $-11,017 |
| 3 years | $-10,908 |
| 5 years | $-10,799 |
| 7 years | $-10,690 |
| 9 years | $-10,582 |
| 11 years | $-10,473 |
| 13 years | $-10,364 |
| 15 years | $-10,255 |
| 17 years | $-10,146 |
| 19 years | $-10,037 |
| 21 years | $-9,928 |
| 23 years | $-9,819 |
| 25 years | $-9,710 |
Top Solar Installers in St. James
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Using a solar company can make switching to solar power much easier. A solar company can also help save you money over time by offering warranties, repairs and system component replacements.
If you're on the hunt for a solar installer in St. James, the EcoWatch team has compiled a list of our top suggestions here:
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 St. James
Factors that Affect Solar Panel Costs in St. James
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in St. James: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,770. 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 limited roof space 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. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are an affordable choice because they cut back your upfront costs and allow you to pay for your system over five to seven years on average. It's a good idea to add 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 the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in St. James, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in St. James have more knowledge about local solar incentives and can help you take advantage 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 | $2.88 | $12,099 | $5,067 | 17.6 years |
| 8 kW | $2.83 | $15,822 | $7,066 | 17.3 years |
| 10 kW | $2.77 | $19,390 | $9,220 | 16.9 years |
| 12 kW | $2.71 | $22,803 | $11,529 | 16.6 years |
| 14 kW | $2.66 | $26,060 | $13,994 | 16.3 years |
| 16 kW | $2.60 | $29,163 | $16,613 | 15.9 years |
| 18 kW | $2.55 | $32,110 | $19,388 | 15.6 years |
| 20 kW | $2.49 | $34,902 | $22,318 | 15.2 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose considerably influences your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
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 St. James, MD Solar Cost FAQs
How much does it cost to install solar panels in St. James?
The average cost of solar panels in St. James 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 stuff such as the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How will solar panels impact how much my home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in St. James is currently $175,329, which means you can expect a value of about $7,188 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in St. James is a rewarding investment.
How long do solar panels last in St. James?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce 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.