Solar Panel Cost Guide in Fairland, MD (2024 Update)
- Fairland Solar Installation Cost: $13,851
- 25-Year Savings: $9,404
- Payback Period: 17.1 Years
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Average Cost of Solar Panels in Fairland
We break down average solar pricing in Fairland.
While the national average of solar panels is $2.66 per watt, solar panels in Fairland typically cost around 4.The average Fairland homeowner needs a 5.6-kilowatt system, which would cost about $13,851 with the federal tax credit, or $19,807 before the 0 tax credit is applied.
The true cost of your system can be above or below the average in Fairland depending on several factors, such as the model of solar panels you choose and the solar contractor you hire.Even with the significant initial cost, the average Fairland homeowner can save about $14,000 on their energy bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a top solar installer in Fairland for a quote for your home.
Solar savings over time in Fairland
| Year | Return on Investment |
|---|---|
| 1 years | $-12,437 |
| 3 years | $-9,608 |
| 5 years | $-6,779 |
| 7 years | $-3,950 |
| 9 years | $-1,122 |
| 11 years | $1,707 |
| 13 years | $4,536 |
| 15 years | $7,364 |
| 17 years | $10,193 |
| 19 years | $13,022 |
| 21 years | $15,851 |
| 23 years | $18,679 |
| 25 years | $21,508 |
Top Solar Installers in Fairland
Although you can install solar panels by yourself, it takes extra energy and knowledge. That's one of the reasons most people choose to hire a solar panel installer. Another advantage of going with a solar company is that they can help you optimize your ROI by bringing down your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
If you’d like to start using solar energy but still aren’t sure which solar company to go with, here are our suggestions for providers in Fairland:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Fairland
Factors that Affect Solar Panel Costs in Fairland
The cost of installing a solar system in Fairland can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
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 pay about $3,540 per kilowatt in Fairland.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. In addition, extra products, like solar batteries, can bring your total well above the Fairland average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Fairland homeowners decide to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also increases your all-in costs, so it’s important to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar panel installation company you pick will influence your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $6,266 | 17.8 years |
| 8 kW | $3.61 | $20,220 | $8,751 | 17.4 years |
| 10 kW | $3.54 | $24,780 | $11,434 | 17.1 years |
| 12 kW | $3.47 | $29,141 | $14,316 | 16.8 years |
| 14 kW | $3.40 | $33,304 | $17,396 | 16.4 years |
| 16 kW | $3.33 | $37,269 | $20,674 | 16.1 years |
| 18 kW | $3.26 | $41,036 | $24,150 | 15.7 years |
| 20 kW | $3.19 | $44,604 | $27,825 | 15.4 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose considerably influences your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: When going solar, it’s essential to keep an open line of communication with your solar company. See to it that you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: Different companies offer various brands and types of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Contract: When looking over your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Fairland, MD Solar Cost FAQs
How much does it cost to install solar panels in Fairland?
The average cost of solar panels in Fairland 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 type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How much can I save on electricity bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Fairland, 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 many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.