Solar Panel Cost Guide in Urbana, MD (Mar 2023)
- Urbana Solar Installation Cost: $10,994
- 25-Year Savings: $5,329
- Payback Period: 16.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Urbana
Let's have a look at the average cost of solar in Urbana.
In Urbana, solar panels cost about 2.77 per watt on average. Using this figure, a typical 5.7-kW system would cost about $10,994 before the 30% federal solar tax credit is applied.
The actual price you pay can be above or below the average in Urbana depending on a variety of factors, such as the kind of solar panels you choose and the solar company you hire. For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $11,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar company in Urbana for a quote for your home.
Solar savings over time in Urbana
| Year | Return on Investment |
|---|---|
| 1 years | $-10,341 |
| 3 years | $-9,035 |
| 5 years | $-7,729 |
| 7 years | $-6,424 |
| 9 years | $-5,118 |
| 11 years | $-3,812 |
| 13 years | $-2,506 |
| 15 years | $-1,200 |
| 17 years | $106 |
| 19 years | $1,412 |
| 21 years | $2,717 |
| 23 years | $4,023 |
| 25 years | $5,329 |
Top Solar Installers in Urbana
Putting up solar panels on your own can be a dangerous project, which is why getting a solar installer is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you're searching for a solar company in Urbana, the EcoWatch team has compiled a list of our top suggestions here:
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 Urbana
Factors that Affect Solar Panel Costs in Urbana
For many Urbana homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Urbana, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,770. There are a lot of different solar panel brands and the one you choose also affects the cost. Usually, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Urbana, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible. Though solar loans make switching to solar energy more accessible for Urbana homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Urbana, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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 | $5,181 | 17.5 years |
| 8 kW | $2.83 | $15,822 | $7,218 | 17.2 years |
| 10 kW | $2.77 | $19,390 | $9,410 | 16.8 years |
| 12 kW | $2.71 | $22,803 | $11,758 | 16.5 years |
| 14 kW | $2.66 | $26,060 | $14,260 | 16.2 years |
| 16 kW | $2.60 | $29,163 | $16,918 | 15.8 years |
| 18 kW | $2.55 | $32,110 | $19,730 | 15.5 years |
| 20 kW | $2.49 | $34,902 | $22,698 | 15.1 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Contract: When reading through your solar company'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 if the company goes out of business.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: The kind of solar panel you need plays a part in which installer you should opt for, since different companies have access to different panels.
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 Urbana, MD Solar Cost FAQs
How much does it cost to install solar panels in Urbana?
The average cost of solar panels in Urbana is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Urbana?
A solar panel system isn't free in Urbana, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Does Urbana have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.