Solar Panel Cost Guide in Ballenger Creek, MD (2024 Update)
- Ballenger Creek Solar Installation Cost: $14,045
- 25-Year Savings: $17,270
- Payback Period: 21.5 Years
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Average Cost of Solar Panels in Ballenger Creek
Here’s how much it might cost to switch to solar power in Ballenger Creek.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Ballenger Creek, the average cost of a solar system is 4 per watt.To account for the typical energy needs of the average home in Ballenger Creek, most homeowners require a 5.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $14,045, or $20,084 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Ballenger Creek homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the upfront cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $11,000 over 20 years on electricity bills.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Ballenger Creek
| Year | Return on Investment |
|---|---|
| 1 years | $-12,792 |
| 3 years | $-10,287 |
| 5 years | $-7,782 |
| 7 years | $-5,277 |
| 9 years | $-2,772 |
| 11 years | $-266 |
| 13 years | $2,239 |
| 15 years | $4,744 |
| 17 years | $7,249 |
| 19 years | $9,754 |
| 21 years | $12,259 |
| 23 years | $14,764 |
| 25 years | $17,270 |
Top Solar Installers in Ballenger Creek
Many homeowners decide to use a solar panel company since trying to install solar panels by yourself can be hard. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Ballenger Creek
Factors that Affect Solar Panel Costs in Ballenger Creek
For many Ballenger Creek homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Ballenger Creek, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $3,540 per kilowatt in Ballenger Creek.The model of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a solid choice because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s wise to add 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 the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installation company you choose will affect your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Ballenger Creek are more knowledgeable about local solar incentives and can help you learn about 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 | $3.68 | $15,463 | $1,817 | 22.4 years |
| 8 kW | $3.61 | $20,220 | $2,820 | 21.9 years |
| 10 kW | $3.54 | $24,780 | $4,020 | 21.5 years |
| 12 kW | $3.47 | $29,141 | $5,419 | 21.1 years |
| 14 kW | $3.40 | $33,304 | $7,016 | 20.6 years |
| 16 kW | $3.33 | $37,269 | $8,811 | 20.2 years |
| 18 kW | $3.26 | $41,036 | $10,805 | 19.8 years |
| 20 kW | $3.19 | $44,604 | $12,996 | 19.4 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose considerably impacts your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: The brand of solar panel you’d like to install plays a part in which installer you should choose, since different companies have access to different panels.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Contract: Before signing a contract with a solar installer, be sure to read it through fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Your solar installer should have a solid 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 satisfied reviews from previous customers.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Ballenger Creek, MD Solar Cost FAQs
What is the average cost of installing solar panels in Ballenger Creek?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $17,700 for a 5-kW system and $35,400 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Ballenger Creek?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How much can I save on energy bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Ballenger Creek, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
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 should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use 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.