Solar Panel Cost Guide in Fallston, MD (2024 Update)
- Fallston Solar Installation Cost: $13,833
- 25-Year Savings: $10,647
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Fallston
Find out what the average cost of solar panel installation is in Fallston.
The national average cost of solar panels is $2.66 per watt, but in Fallston it’s 4 per watt.The average solar panel system size in Fallston is around 5.6 kilowatts, meaning a cost of about $13,833 for a solar installation, or $19,781 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of going solar can vary based on several factors, such as what size system you need, your energy usage and what company you go with.For most homeowners, the upfront investment in solar power is worth paying. On average Fallston homeowners see about $15,000 in savings on utility bills over 20 years.
Click the button below to get connected to a reputable solar panel company in your area for a personalized quote.
Solar savings over time in Fallston
| Year | Return on Investment |
|---|---|
| 1 years | $-12,419 |
| 3 years | $-9,590 |
| 5 years | $-6,761 |
| 7 years | $-3,933 |
| 9 years | $-1,104 |
| 11 years | $1,725 |
| 13 years | $4,554 |
| 15 years | $7,382 |
| 17 years | $10,211 |
| 19 years | $13,040 |
| 21 years | $15,869 |
| 23 years | $18,697 |
| 25 years | $21,526 |
Top Solar Installers in Fallston
Many homeowners opt for a solar installation company since trying to put up solar panels yourself can be a lot of work. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you’d like to start using solar energy but still aren’t sure which solar panel installer to go with, here are our recommendations for providers in Fallston:
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 Fallston
Factors that Affect Solar Panel Costs in Fallston
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that determine your overall cost in Fallston: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,540. The type of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Fallston homeowners opt to finance their solar panel systems to make going solar more affordable.Though solar loans make adopting solar energy more accessible for Fallston homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Fallston is the company you get to install your solar system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services for different budgets.Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have 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 | $7,614 | 16.8 years |
| 8 kW | $3.61 | $20,220 | $10,549 | 16.4 years |
| 10 kW | $3.54 | $24,780 | $13,682 | 16.1 years |
| 12 kW | $3.47 | $29,141 | $17,013 | 15.8 years |
| 14 kW | $3.40 | $33,304 | $20,542 | 15.5 years |
| 16 kW | $3.33 | $37,269 | $24,270 | 15.1 years |
| 18 kW | $3.26 | $41,036 | $28,196 | 14.8 years |
| 20 kW | $3.19 | $44,604 | $32,320 | 14.5 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. Because picking a company can be a challenge, we have some tips to help you, such as:
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a good company.
- Contract: Although reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Installation Process: When making the switch to solar, it’s essential to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the project timeline.
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 Fallston, MD Solar Cost FAQs
How much does it cost to install solar panels in Fallston?
The average cost of solar panels in Fallston 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 like the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Fallston?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Does Fallston have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.