Solar Panel Cost Guide in Towson, MD (Mar 2023)
- Towson Solar Installation Cost: $10,839
- 25-Year Savings: $10,055
- Payback Period: 13.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Towson
Find out what the average cost of a solar system is in Towson.
While the national average of solar panels is $2.66 per watt, solar panels in Towson generally cost around 2.77. The average solar panel system size in Towson 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.
The true cost of your system can go above or below the average in Towson depending on several factors, such as the model of solar panels you choose and the solar installer you hire. With average savings of about $14,000 on utility bills over 20 years, many homeowners in Towson find investing in solar can pay off big.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Towson
| Year | Return on Investment |
|---|---|
| 1 years | $-10,003 |
| 3 years | $-8,332 |
| 5 years | $-6,660 |
| 7 years | $-4,989 |
| 9 years | $-3,317 |
| 11 years | $-1,646 |
| 13 years | $26 |
| 15 years | $1,697 |
| 17 years | $3,369 |
| 19 years | $5,040 |
| 21 years | $6,712 |
| 23 years | $8,383 |
| 25 years | $10,055 |
Top Solar Installers in Towson
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar panel installer can make swapping over to solar power much easier. The expertise that solar installers offer can be useful as well, especially if you don't quite know what kind of solar equipment you need.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some in Towson:
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 Towson
Factors that Affect Solar Panel Costs in Towson
There are many factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
When it comes to estimating the cost of solar panels in Towson, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by about $2,770 for each additional kilowatt you need. The brand of solar panels and equipment you get is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment consists of more than 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's in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a popular option because they cut back your upfront costs and allow you to pay for your system over five to seven years on average. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Towson, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. The company's size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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
The solar installer you choose will impact 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 several important things you should take into account, including:
- Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely provide good-quality solar panel installation and expertise.
- Contract: Before you sign a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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 Towson, MD Solar Cost FAQs
What is the average cost of installing solar panels in Towson?
This is a difficult question to answer precisely, 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than cost when buying solar panels?
The initial cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $747.69 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.