Solar Panel Cost Guide in Elkridge, MD (2024 Update)

  • Elkridge Solar Installation Cost: $13,837
  • 25-Year Savings: $21,523
  • Payback Period: 16.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Elkridge

Here’s how much it might cost to go solar in Elkridge.

The average cost of solar panels in Elkridge is 4 per watt.The average Elkridge homeowner needs a 5.6-kilowatt system, which would cost about $13,837 with the federal tax credit, or $19,787 before the 0 tax credit is applied.

These figures are just averages, and your own solar costs will vary based on your energy needs and what company you go with.For many homeowners, the upfront cost of solar is worth paying. On average Elkridge homeowners see about $14,000 in savings on electricity bills over 20 years.

To calculate your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Elkridge

Year Return on Investment
1 years $-12,422
3 years $-9,594
5 years $-6,765
7 years $-3,936
9 years $-1,107
11 years $1,721
13 years $4,550
15 years $7,379
17 years $10,208
19 years $13,036
21 years $15,865
23 years $18,694
25 years $21,523

Top Solar Installers in Elkridge

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of an installer can make swapping over to solar power much easier. The payback period on a solar system will vary based on factors like your roof configuration and energy use, but going with a solar company can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.

Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.0

  • 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

★★★★★
4.0

  • 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 Elkridge

Factors that Affect Solar Panel Costs in Elkridge

For many Elkridge homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Elkridge, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you’ll pay, which we'll go over below.

Solar Equipment

When it comes to estimating the cost of solar panels in Elkridge, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can determine by looking at past power bills. Your total cost can increase by about $3,540 for each additional kilowatt you need.There are several different solar panel brands and the one you choose also changes the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Elkridge homeowners choose to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also adds to your total costs, so it’s vital to take that into consideration as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.

Solar Panel Installation Company

The solar installer you hire to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Elkridge, and each can charge varying amounts for labor and equipment.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and find a company that has the products, warranties and services you’re looking for and also fit into your budget.

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 $6,988 17.2 years
8 kW $3.61 $20,220 $9,714 16.9 years
10 kW $3.54 $24,780 $12,639 16.6 years
12 kW $3.47 $29,141 $15,761 16.2 years
14 kW $3.40 $33,304 $19,082 15.9 years
16 kW $3.33 $37,269 $22,601 15.6 years
18 kW $3.26 $41,036 $26,318 15.2 years
20 kW $3.19 $44,604 $30,233 14.9 years

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:

  • Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely provide good-quality solar panel installation and expertise.
  • Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
  • Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the completion timeline.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.0

  • 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

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Elkridge, MD Solar Cost FAQs

How much does it cost to install solar panels in Elkridge?

The average cost of solar panels in Elkridge 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.

Is cost the most important thing to think about when buying solar panels?

Cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.

Can solar panels eliminate my energy bills?

Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $748.37 per year.

What solar power system size is right for my home?

To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.

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.

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