Solar Panel Cost Guide in Thurmont, MD (2023 Update)

  • Thurmont Solar Installation Cost: $14,045
  • 25-Year Savings: $5,334
  • Payback Period: 21.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Thurmont

Find out how much it might cost to install solar panels in Thurmont.

The national average cost of solar panels is $2.66 per watt, but in Thurmont it’s 4 per watt.To cover the typical energy usage of the average home in Thurmont, most homeowners require a 5.7-kilowatt system. Using the figure above, a solar installation costs around $14,045, or $20,084 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 a solar energy system. The exact cost of making the switch to solar can vary based on multiple factors, such as how many panels you need, your energy consumption and what company you go with.Despite the high initial cost, the average Thurmont homeowner can save around $11,000 on their energy bills over 20 years, which is one of the positives of solar.

To calculate your potential ROI and connect with a local solar installer, click the button below.

Solar savings over time in Thurmont

Year Return on Investment
1 years $-12,792
3 years $-10,287
5 years $-7,782
7 years $-5,277
9 years $-2,772
11 years $-266
13 years $2,239
15 years $4,744
17 years $7,249
19 years $9,754
21 years $12,259
23 years $14,764
25 years $17,270

Top Solar Installers in Thurmont

When switching to solar energy, many homeowners choose to go with a solar installation company since putting up solar panels yourself can be a time-consuming project. Solar installers provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.

There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

Best for Leasing

Sunrun

★★★★★
4.0

  • 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

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

Solar Veteran

Trinity Solar

★★★★★
4.0

  • Many financing options
  • Family-owned and -operated
  • Makes charitable contributions
  • Limited service area
  • Relatively short workmanship warranty

See all of the solar companies in Thurmont

Factors that Affect Solar Panel Costs in Thurmont

There are several criteria that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.There are several different solar panel brands and the one you pick also changes the cost. In many cases, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Many homeowners find the average cost of solar in Thurmont to be too costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.However, the interest on solar loans also increases your overall costs, so it’s vital to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.

Solar Panel Installation Company

The solar company you opt for to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies operating in Thurmont, and each can charge different amounts for labor and equipment.Additionally, some companies in Thurmont are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 $1,817 22.4 years
8 kW $3.61 $20,220 $2,820 21.9 years
10 kW $3.54 $24,780 $4,020 21.5 years
12 kW $3.47 $29,141 $5,419 21.1 years
14 kW $3.40 $33,304 $7,016 20.6 years
16 kW $3.33 $37,269 $8,811 20.2 years
18 kW $3.26 $41,036 $10,805 19.8 years
20 kW $3.19 $44,604 $12,996 19.4 years

How to Save on Solar Panels

The solar installer you go with will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, such as:

  • Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
  • Contract: Review the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.
  • Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.

Best for Leasing

Sunrun

★★★★★
4.0

  • 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

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

Solar Veteran

Trinity Solar

★★★★★
4.0

  • Many financing options
  • Family-owned and -operated
  • Makes charitable contributions
  • Limited service area
  • Relatively short workmanship warranty

EcoWatch's Thurmont, MD Solar Cost FAQs

What is the average cost of installing solar panels in Thurmont?

The average cost of solar panels in Thurmont is about $17,700 for a 5-kW system and $35,400 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Thurmont?

Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The drawback 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 option if you want to maximize your savings.

Do solar panels increase your home value?

Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t choose 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 Thurmont?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce 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.

Follow us