Solar Panel Cost Guide in Lutherville, MD (2025 Update)
- Lutherville Solar Installation Cost: $13,849
- 25-Year Savings: $10,057
- Payback Period: 16.6 Years
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Average Cost of Solar Panels in Lutherville
Find out what the average cost of solar panel installation is in Lutherville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lutherville, the typical cost of solar panels is 4 per watt.To cover the typical energy usage of the average home in Lutherville, most homeowners require a 5.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $13,849, or $19,804 before the federal solar tax credit of 0 is applied.
These figures are just averages, and how much solar costs for you may look different based on your energy needs and what company you choose to go with.But, after you've paid the initial cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $14,000 over 20 years on power bills.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Lutherville
| Year | Return on Investment |
|---|---|
| 1 years | $-12,435 |
| 3 years | $-9,606 |
| 5 years | $-6,777 |
| 7 years | $-3,949 |
| 9 years | $-1,120 |
| 11 years | $1,709 |
| 13 years | $4,538 |
| 15 years | $7,366 |
| 17 years | $10,195 |
| 19 years | $13,024 |
| 21 years | $15,853 |
| 23 years | $18,681 |
| 25 years | $21,510 |
Top Solar Installers in Lutherville
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Going with a solar company can make your switch to solar power much easier. Solar warranties and repairs are typically included in the cost of installation when you hire a solar company as well, which can save you more money after your upfront investment.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some near you:
See all of the solar companies in Lutherville
Factors that Affect Solar Panel Costs in Lutherville
Though the average cost of a solar system in Lutherville is $13,849, your actual cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy 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 spend about $3,540 per kilowatt in Lutherville.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Lutherville, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a solid option because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also increases your total costs, so it’s crucial to take that into consideration as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can play a part in determining the cost. Lutherville’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $6,968 | 17.2 years |
| 8 kW | $3.61 | $20,220 | $9,687 | 16.9 years |
| 10 kW | $3.54 | $24,780 | $12,605 | 16.6 years |
| 12 kW | $3.47 | $29,141 | $15,720 | 16.2 years |
| 14 kW | $3.40 | $33,304 | $19,034 | 15.9 years |
| 16 kW | $3.33 | $37,269 | $22,546 | 15.6 years |
| 18 kW | $3.26 | $41,036 | $26,257 | 15.2 years |
| 20 kW | $3.19 | $44,604 | $30,165 | 14.9 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Installation Process: When making the switch to solar power, it’s essential to keep an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the completion timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Contract: Though reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it 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.
EcoWatch's Lutherville, MD Solar Cost FAQs
What is the average cost of installing solar panels in Lutherville?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally 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 cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Lutherville?
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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Does Lutherville have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future energy 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 Lutherville?
On average, solar panels can last 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 level 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.