Solar Panel Cost Guide in Mayo, MD (2024 Update)

  • Mayo Solar Installation Cost: $13,244
  • 25-Year Savings: $10,531
  • Payback Period: 15.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Mayo

We go over average solar pricing in Mayo.

Although the national average of solar panels is $2.66 per watt, solar panels in Mayo generally cost around 4.Using this figure, a typical 5.3-kW system would cost about $13,244 before the 0 federal solar tax credit is applied.

Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of equipment you want to get, your solar contractor and more.Despite the large upfront cost, the average Mayo homeowner can save about $15,000 on their power bills over 20 years, which is one of the advantages of solar.

For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Mayo

Year Return on Investment
1 years $-11,829
3 years $-9,001
5 years $-6,172
7 years $-3,343
9 years $-514
11 years $2,314
13 years $5,143
15 years $7,972
17 years $10,801
19 years $13,629
21 years $16,458
23 years $19,287
25 years $22,115

Top Solar Installers in Mayo

Installing solar panels on your own can be a stressful task, which is why hiring a solar installer is a good option for many homeowners. A solar installer can also help save you money over time by offering warranties, repairs and system component replacements.

Working with a professional solar company can make going solar easier. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.0

  • 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

★★★★★
4.0

  • 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 Mayo

Factors that Affect Solar Panel Costs in Mayo

Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Mayo: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,540.The kind of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to think 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

If paying for solar panels in cash is too expensive, solar loans are a popular choice because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.

Solar Panel Installation Company

Finally, the company you hire to install your solar panel system can affect how much it costs. Mayo’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger 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 $7,994 16.5 years
8 kW $3.61 $20,220 $11,055 16.2 years
10 kW $3.54 $24,780 $14,314 15.8 years
12 kW $3.47 $29,141 $17,771 15.5 years
14 kW $3.40 $33,304 $21,427 15.2 years
16 kW $3.33 $37,269 $25,281 14.9 years
18 kW $3.26 $41,036 $29,333 14.6 years
20 kW $3.19 $44,604 $33,583 14.3 years

How to Save on Solar Panels

There are a lot of companies to choose from in Mayo, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:

  • Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
  • Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
  • Contract: Read the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives and warranties.
  • Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.0

  • 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

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Mayo, MD Solar Cost FAQs

How much does it cost to install solar panels in Mayo?

The average cost of solar panels in Mayo 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 things such as the type of solar panels you want, what size system you need and how much energy you consume.

Is it better to lease or buy solar panels in Mayo?

Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.

Is it worth going solar in Mayo?

Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.

How often do you have to replace solar panels?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using them at a lower efficiency.

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.

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