Solar Panel Cost Guide in Halfway, MD (2024 Update)
- Halfway Solar Installation Cost: $14,149
- 25-Year Savings: $5,282
- Payback Period: 21.6 Years
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Average Cost of Solar Panels in Halfway
See how much it might cost to go solar in Halfway.
The national average cost of solar panels is $2.66 per watt, but in Halfway it’s 4 per watt.The average Halfway homeowner needs a 5.7-kilowatt system, which would cost about $14,149 with the federal tax credit, or $20,233 before the 0 tax credit is applied.
These figures are only averages, and how much solar costs for you will differ based on your energy needs and what company you go with.Despite the large initial cost, the average Halfway homeowner can save around $11,000 on their power bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a pre-vetted solar installer in Halfway for a quote for your home.
Solar savings over time in Halfway
| Year | Return on Investment |
|---|---|
| 1 years | $-12,897 |
| 3 years | $-10,392 |
| 5 years | $-7,886 |
| 7 years | $-5,381 |
| 9 years | $-2,876 |
| 11 years | $-371 |
| 13 years | $2,134 |
| 15 years | $4,639 |
| 17 years | $7,144 |
| 19 years | $9,649 |
| 21 years | $12,155 |
| 23 years | $14,660 |
| 25 years | $17,165 |
Top Solar Installers in Halfway
Trying to install solar panels on your own can be a dangerous undertaking, which is why using a solar installer is a good option for many homeowners. Also, companies with a good reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you're looking for a solar installer in Halfway, we've compiled a list of our top suggestions here:
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 Halfway
Factors that Affect Solar Panel Costs in Halfway
The cost of installing a solar system in Halfway can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay about $3,540 per kilowatt in Halfway.There are a lot of different solar panel brands and the one you choose also changes the cost. In many cases, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Halfway to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to higher prices over time because of interest.Though solar loans make going solar more accessible for Halfway homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you go with to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies in Halfway, and each can charge varying amounts for labor and equipment.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 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 | $1,722 | 22.5 years |
| 8 kW | $3.61 | $20,220 | $2,692 | 22.1 years |
| 10 kW | $3.54 | $24,780 | $3,860 | 21.6 years |
| 12 kW | $3.47 | $29,141 | $5,227 | 21.2 years |
| 14 kW | $3.40 | $33,304 | $6,792 | 20.8 years |
| 16 kW | $3.33 | $37,269 | $8,556 | 20.3 years |
| 18 kW | $3.26 | $41,036 | $10,517 | 19.9 years |
| 20 kW | $3.19 | $44,604 | $12,677 | 19.5 years |
How to Save on Solar Panels
The solar installer you choose will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can research your installer’s reputation is by reading reviews.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
- Warranty: If you’re concerned about the endurance of your solar panel system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Before you sign a contract with a solar installer, be sure to look it over completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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 Halfway, MD Solar Cost FAQs
What is the average cost of installing solar panels in Halfway?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $17,700 for a 5-kW system and $35,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities 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.
Can solar panels completely eradicate my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Halfway, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Halfway?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.