Solar Panel Cost Guide in Ilchester, MD (2024 Update)
- Ilchester Solar Installation Cost: $13,837
- 25-Year Savings: $10,067
- Payback Period: 16.6 Years
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Average Cost of Solar Panels in Ilchester
Here’s how much it might cost to install solar panels in Ilchester.
The average cost of solar panels in Ilchester is 4 per watt.Using this figure, a typical 5.6-kW system would cost about $13,837 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Ilchester homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the upfront cost of installation, the savings for most homeowners is quite good, with a net average savings of about $14,000 over 20 years on energy bills.
Click the button below to get connected to a reputable solar panel company in your area for a custom quote.
Solar savings over time in Ilchester
| 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 Ilchester
Many homeowners opt for a solar panel installer since trying to install solar panels on your own can be a lot of work. Some solar companies, particularly local ones, can help you take advantage of incentives in Ilchester, therefore optimizing your ROI.
If you’d like to start using solar energy but still aren’t certain which solar panel installer to go with, here are our recommendations for providers near you:
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 Ilchester
Factors that Affect Solar Panel Costs in Ilchester
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Ilchester: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That’s why it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.There are a lot of different solar panel brands and the one you pick also changes the cost. In many cases, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Ilchester have solar loans, which reduce the initial cost of installing solar.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Ilchester, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Ilchester have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
- Contract: Review the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established 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 get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
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 Ilchester, MD Solar Cost FAQs
What is the average cost of installing solar panels in Ilchester?
This is a hard question to answer precisely, because the cost depends on a variety of 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Are solar panels free in Ilchester?
Solar panels aren’t free in Ilchester, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will solar panels impact my property value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.