Solar Panel Cost Guide in Woodmore, MD (2023 Update)
- Woodmore Solar Installation Cost: $10,577
- 25-Year Savings: $11,317
- Payback Period: 12.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Woodmore
Find out what the average cost of solar panels are in Woodmore.
The average cost of a solar system in Woodmore is 2.77 per watt. The average solar panel system size in Woodmore is around 5.5 kilowatts, meaning a cost of about $10,568 for a solar installation, or $15,112 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 look quite different based on your household energy consumption, the type of equipment you choose, your solar contractor and more. But, once you've paid the upfront cost of installation, the savings for most homeowners is typically good, with a net average savings of about $15,000 over 20 years on power bills.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Woodmore
| Year | Return on Investment |
|---|---|
| 1 years | $-9,163 |
| 3 years | $-6,334 |
| 5 years | $-3,505 |
| 7 years | $-676 |
| 9 years | $2,152 |
| 11 years | $4,981 |
| 13 years | $7,810 |
| 15 years | $10,639 |
| 17 years | $13,467 |
| 19 years | $16,296 |
| 21 years | $19,125 |
| 23 years | $21,954 |
| 25 years | $24,782 |
Top Solar Installers in Woodmore
Although it's possible to install solar panels by yourself, it requires extra time and handiness. Because of that, almost all homeowners choose to go with a solar panel installer. The payback period on an investment in solar panels will vary depending on factors like your location and energy needs, but working with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
If you'd like to go solar but still aren't sure which solar installer to go with, here are our recommendations for providers nearby:
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 Woodmore
Factors that Affect Solar Panel Costs in Woodmore
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that will push your cost above or below the average in Woodmore: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The brand of solar panels and equipment you want is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, 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 looking for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Woodmore offer solar loans, which reduce your upfront costs of installing a solar system. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Woodmore is the company you choose to install your solar system. Similar to choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that offer a range of services for different budgets. The size of the company can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and better 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 | $11,982 | 12.6 years |
| 8 kW | $2.83 | $15,822 | $16,287 | 12.3 years |
| 10 kW | $2.77 | $19,390 | $20,746 | 12.1 years |
| 12 kW | $2.71 | $22,803 | $25,361 | 11.8 years |
| 14 kW | $2.66 | $26,060 | $30,131 | 11.6 years |
| 16 kW | $2.60 | $29,163 | $35,056 | 11.4 years |
| 18 kW | $2.55 | $32,110 | $40,136 | 11.1 years |
| 20 kW | $2.49 | $34,902 | $45,371 | 10.9 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely provide high-quality solar panel installation and expertise.
- Solar Panel Brands: The brand of solar panel you need to install plays a role in which company you should opt for, since different companies have access to different panels.
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 Woodmore, MD Solar Cost FAQs
How much does it cost to install solar panels in Woodmore?
The average cost of solar panels in Woodmore 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 kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Woodmore?
Solar panels aren't free in Woodmore, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is it worth going solar in Woodmore?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a 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.