Solar Panel Cost Guide in Timonium, MD (2023 Update)
- Timonium Solar Installation Cost: $10,837
- 25-Year Savings: $10,057
- Payback Period: 13.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Timonium
Let's take a look at the average cost of solar panels in Timonium.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Timonium, the typical cost of a solar system is 2.77 per watt. The average solar panel system size in Timonium is around 5.6 kilowatts, meaning a cost of about $10,839 for a solar installation, or $15,500 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of equipment you want to get, your solar contractor and more. For many homeowners, the upfront investment in solar power is worth paying. On average Timonium homeowners see about $14,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a vetted solar panel company in your area for a customized estimate.
Solar savings over time in Timonium
| Year | Return on Investment |
|---|---|
| 1 years | $-9,422 |
| 3 years | $-6,594 |
| 5 years | $-3,765 |
| 7 years | $-936 |
| 9 years | $1,893 |
| 11 years | $4,721 |
| 13 years | $7,550 |
| 15 years | $10,379 |
| 17 years | $13,207 |
| 19 years | $16,036 |
| 21 years | $18,865 |
| 23 years | $21,694 |
| 25 years | $24,522 |
Top Solar Installers in Timonium
When making the switch to solar, many homeowners choose to go with a solar installation company since handling can be a difficult project. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be right for you.
If you're looking for a solar company in Timonium, we've put together 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 Timonium
Factors that Affect Solar Panel Costs in Timonium
The cost of installing a solar system in Timonium 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 installer you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The type of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, 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 searching for a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Timonium, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also increases your overall costs, so it's crucial to take that into consideration 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
A final consideration when trying to figure out the cost of solar for your home or business in Timonium is the company you get to install your solar system. As with choosing a company to install new cabinets, for instance, there's no shortage of solar installers that provide a range of services at different costs. The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $10,331 | 13.5 years |
| 8 kW | $2.83 | $15,822 | $14,085 | 13.2 years |
| 10 kW | $2.77 | $19,390 | $17,995 | 13.0 years |
| 12 kW | $2.71 | $22,803 | $22,059 | 12.7 years |
| 14 kW | $2.66 | $26,060 | $26,278 | 12.4 years |
| 16 kW | $2.60 | $29,163 | $30,653 | 12.2 years |
| 18 kW | $2.55 | $32,110 | $35,182 | 11.9 years |
| 20 kW | $2.49 | $34,902 | $39,867 | 11.7 years |
How to Save on Solar Panels
There are many companies to choose from in Timonium, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Before you sign a contract with a solar company, make sure you read it through carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Different companies have various brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Installation Process: When making the switch to solar, it's important to keep an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the project timeline.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases provide high-quality solar panel installation and expertise.
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 Timonium, MD Solar Cost FAQs
What is the average cost of installing solar panels in Timonium?
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 extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
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 cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Is it worth going solar in Timonium?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.