Solar Panel Cost Guide in Elkton, MD (2024 Update)
- Elkton Solar Installation Cost: $13,786
- 25-Year Savings: $12,415
- Payback Period: 14.9 Years
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Average Cost of Solar Panels in Elkton
We break down average solar pricing in Elkton.
The national average cost of solar panels is $2.66 per watt, but in Elkton it’s 4 per watt.Because a 5.6-kW system is needed to cover the energy costs of a typical home in Elkton, the average price of going solar will be about $13,786 after claiming the federal solar tax credit of 0.
The actual price you pay can be higher or lower than the average in Elkton based on a few factors, such as the kind of solar panels you choose and the solar company you hire.For many homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $16,000 in savings on electricity bills over 20 years.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Elkton
| Year | Return on Investment |
|---|---|
| 1 years | $-12,073 |
| 3 years | $-8,647 |
| 5 years | $-5,221 |
| 7 years | $-1,795 |
| 9 years | $1,631 |
| 11 years | $5,057 |
| 13 years | $8,483 |
| 15 years | $11,909 |
| 17 years | $15,334 |
| 19 years | $18,760 |
| 21 years | $22,186 |
| 23 years | $25,612 |
| 25 years | $29,038 |
Top Solar Installers in Elkton
Many homeowners decide to use a solar installer since trying to install solar panels yourself can be a labor-intensive endeavor. The expertise that solar companies provide can be invaluable as well, especially if you don’t quite know what type of solar equipment you need.
There are several 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 Elkton
Factors that Affect Solar Panel Costs in Elkton
While the average cost of a solar system in Elkton is $13,786, your final cost may differ. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,540. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Elkton to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in a higher cost over time because of interest.However, the interest on solar loans also increases your total costs, so it’s vital to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Elkton is the company you hire to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that provide a range of services at different price points.Larger national companies usually have lower costs, but some local companies keep up with 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 vehicle 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 | $9,561 | 15.4 years |
| 8 kW | $3.61 | $20,220 | $13,145 | 15.2 years |
| 10 kW | $3.54 | $24,780 | $16,926 | 14.9 years |
| 12 kW | $3.47 | $29,141 | $20,906 | 14.6 years |
| 14 kW | $3.40 | $33,304 | $25,085 | 14.3 years |
| 16 kW | $3.33 | $37,269 | $29,461 | 14.0 years |
| 18 kW | $3.26 | $41,036 | $34,036 | 13.7 years |
| 20 kW | $3.19 | $44,604 | $38,809 | 13.4 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:
- Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar company. Confirm that you understand how the installation process works and the project completion timeline.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Contract: When reading over your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
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 Elkton, MD Solar Cost FAQs
What is the average cost of installing solar panels in Elkton?
The average cost of solar panels in Elkton is about $17,700 for a 5-kW system and $35,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Elkton?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Elkton?
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 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.