Solar Panel Cost Guide in Taneytown, MD (Mar 2023)
- Taneytown Solar Installation Cost: $10,994
- 25-Year Savings: $7,614
- Payback Period: 14.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Taneytown
Find out what the average cost of solar panel installation is in Taneytown.
In Taneytown, solar panels cost about 2.77 per watt on average. To account for the typical energy needs of the average home in Taneytown, most homeowners require a 5.7-kilowatt system. Using the figure above, a solar installation costs around $10,994, or $15,721 before the federal solar tax credit of 30% is applied.
The true cost of your system can go above or below the average in Taneytown depending on several factors, such as the type of solar panels you choose and the solar installer you hire. Many homeowners find adopting solar power is a sound investment. The average homeowner in Taneytown can save about $12,000 on their electricity bills over 20 years.
To receive a free quote from a top solar installer in Taneytown, you can click the button below.
Solar savings over time in Taneytown
| Year | Return on Investment |
|---|---|
| 1 years | $-10,250 |
| 3 years | $-8,761 |
| 5 years | $-7,272 |
| 7 years | $-5,784 |
| 9 years | $-4,295 |
| 11 years | $-2,806 |
| 13 years | $-1,318 |
| 15 years | $171 |
| 17 years | $1,660 |
| 19 years | $3,148 |
| 21 years | $4,637 |
| 23 years | $6,126 |
| 25 years | $7,614 |
Top Solar Installers in Taneytown
When switching to solar energy, many homeowners choose to hire a solar installer since installing a solar system yourself can be a time-consuming project. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Taneytown
Factors that Affect Solar Panel Costs in Taneytown
The cost of installing a solar system in Taneytown can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Taneytown, one of the most important 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 figure out by looking at past energy bills. Your overall cost can increase by about $2,770 for each additional kilowatt you need. The model of solar panels and equipment you choose is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a popular route because they reduce 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
Finally, the company you choose to install your solar system can influence your pricing. Taneytown's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $7,601 | 15.4 years |
| 8 kW | $2.83 | $15,822 | $10,445 | 15.1 years |
| 10 kW | $2.77 | $19,390 | $13,444 | 14.8 years |
| 12 kW | $2.71 | $22,803 | $16,598 | 14.5 years |
| 14 kW | $2.66 | $26,060 | $19,908 | 14.2 years |
| 16 kW | $2.60 | $29,163 | $23,372 | 13.9 years |
| 18 kW | $2.55 | $32,110 | $26,992 | 13.6 years |
| 20 kW | $2.49 | $34,902 | $30,766 | 13.3 years |
How to Save on Solar Panels
The solar panel company you opt for will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, such as:
- Warranty: If you're concerned about the endurance of your solar energy system, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- 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 likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Different companies carry different brands and types of panels. If you want a specific brand, make sure the solar installer you're considering has it.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Taneytown, MD Solar Cost FAQs
How much does it cost to install solar panels in Taneytown?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Taneytown?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
How will solar panels impact how much my home is worth?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Taneytown?
Even though 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 their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use 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.