Solar Panel Cost Guide in Chestertown, MD (2024 Update)
- Chestertown Solar Installation Cost: $13,663
- 25-Year Savings: $14,591
- Payback Period: 13.5 Years
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Average Cost of Solar Panels in Chestertown
Find out what the average cost of solar panels are in Chestertown.
In Chestertown, solar panels cost about 4 per watt on average.The average solar panel system size in Chestertown is around 5.5 kilowatts, meaning a cost of about $13,663 for a solar installation, or $19,538 before the 0 federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you will most likely differ based on the amount of energy your home requires and what company you want to go with.But, once you've paid the upfront cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $17,000 over 20 years on utility bills.
To get a free quote from a highly rated solar installer in Chestertown, you can click the button below.
Solar savings over time in Chestertown
| Year | Return on Investment |
|---|---|
| 1 years | $-11,950 |
| 3 years | $-8,524 |
| 5 years | $-5,098 |
| 7 years | $-1,672 |
| 9 years | $1,754 |
| 11 years | $5,180 |
| 13 years | $8,606 |
| 15 years | $12,032 |
| 17 years | $15,457 |
| 19 years | $18,883 |
| 21 years | $22,309 |
| 23 years | $25,735 |
| 25 years | $29,161 |
Top Solar Installers in Chestertown
Many homeowners decide to hire a solar panel company since figuring out how to install solar panels by yourself can be hard. Solar warranties and repairs are usually included in the cost of installation when you sign a contract with a solar contractor as well, which can save you more money over time.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Chestertown
Factors that Affect Solar Panel Costs in Chestertown
For many Chestertown homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Chestertown, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Chestertown, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can gauge by looking at past power bills. Your overall cost can increase by around $3,540 for each additional kilowatt you need.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable route because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you select will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $12,050 | 14.1 years |
| 8 kW | $3.61 | $20,220 | $16,463 | 13.8 years |
| 10 kW | $3.54 | $24,780 | $21,074 | 13.5 years |
| 12 kW | $3.47 | $29,141 | $25,883 | 13.2 years |
| 14 kW | $3.40 | $33,304 | $30,891 | 13.0 years |
| 16 kW | $3.33 | $37,269 | $36,097 | 12.7 years |
| 18 kW | $3.26 | $41,036 | $41,501 | 12.4 years |
| 20 kW | $3.19 | $44,604 | $47,104 | 12.2 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose greatly affects your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: When making the switch to solar, it’s important to maintain an open line of communication with your solar installer. Make sure you understand how the installation process will go and the completion timeline.
- Warranty: If you’re concerned about the endurance of your solar panels, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- 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 significant role in the company you go with.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Chestertown, MD Solar Cost FAQs
What is the average cost of installing solar panels in Chestertown?
The average cost of solar panels in Chestertown is about $17,700 for a 5-kW system and $35,400 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Chestertown, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact 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 stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose 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.