Solar Panel Cost Guide in White Marsh, MD (2023 Update)
- White Marsh 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 White Marsh
Find out what the average cost of a solar system is in White Marsh.
In White Marsh, solar panels cost about 2.77 per watt on average. The average White Marsh homeowner needs a 5.6-kilowatt system, which would cost about $10,839 with the federal tax credit, or $15,500 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of solar system you want to get, your solar contractor and more. For many homeowners, the upfront cost of solar power is worth paying. On average White Marsh homeowners see about $14,000 in savings on utility bills over 20 years.
To receive a free quote from a pre-vetted solar installer in White Marsh, you can click the button below.
Solar savings over time in White Marsh
| 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 White Marsh
Trying to install solar panels by yourself can be a time-consuming undertaking, which is why using a solar installer is a good option for many homeowners. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be best for your home.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
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 White Marsh
Factors that Affect Solar Panel Costs in White Marsh
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
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,770. The brand of solar panels and equipment you want is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Plus, solar equipment is more than just the solar panels themselves. You'll also need to decide on 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
Many homeowners find the average cost of solar in White Marsh to be too expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in paying more over time due to interest. While solar loans make adopting solar energy more accessible for White Marsh homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you select will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in White Marsh are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $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 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 picking a company can be difficult, we have some tips to help you, such as:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
- Contract: When reading over 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 component breaking or the company going out of business.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
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 White Marsh, MD Solar Cost FAQs
How much does it cost to install solar panels in White Marsh?
The average cost of solar panels in White Marsh is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in White Marsh?
Leasing solar panels can be an attractive choice, because it commonly 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 way to go if you want to maximize your savings.
Can solar panels eliminate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. 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?
Although 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 decide to replace them once you've had them for that long or you can keep using 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.