Solar Panel Cost Guide in North Laurel, MD (2024 Update)

  • North Laurel Solar Installation Cost: $13,837
  • 25-Year Savings: $10,067
  • Payback Period: 16.6 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 North Laurel

We break down average solar pricing in North Laurel.

Currently, the national average cost of solar panels is $2.66 per watt. However, in North Laurel, the typical cost of solar panels is 4 per watt.The average North Laurel homeowner needs a 5.6-kilowatt system, which would cost about $13,837 with the federal tax credit, or $19,787 before the 0 tax credit is applied.

These figures are only estimates, and how much solar costs for you may look different based on factors unique to your home and what company you go with.But, once you've paid the upfront cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $14,000 over 20 years on power bills.

You can click the button below to get connected with a vetted solar installer in North Laurel that can help you get a more accurate cost estimate for your home.

Solar savings over time in North Laurel

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 North Laurel

Installing solar panels on your own can be a stressful project, which is why using a solar installation company is a good option for many homeowners. Plus, if you’d like to maximize your investment in solar power, opting for a solar installer can help with that as well. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives.

If you're on the hunt for a solar company in North Laurel, the EcoWatch team has organized a list of our top suggestions here:

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 North Laurel

Factors that Affect Solar Panel Costs in North Laurel

For many North Laurel homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in North Laurel, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to a few 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 raise costs. For each additional kilowatt you need, your cost can go up by about $3,540.There are a lot of different solar panel brands and the one you choose also affects the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you’re looking to install can affect your total cost. If you only 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 North Laurel have solar loans, which reduce your upfront costs of installing solar panels.However, the interest on solar loans also increases your all-in costs, so it’s vital to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.

Solar Panel Installation Company

The last significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in North Laurel, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.

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 companies to choose from in North Laurel, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:

  • Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely offer good-quality solar panel installation and expertise.
  • Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
  • Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the installation process.

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 North Laurel, MD Solar Cost FAQs

How much does it cost to install solar panels in North Laurel?

This is a hard question to answer exactly, 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

Should I lease or buy solar panels in North Laurel?

Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The drawback 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 way to go if you want to maximize your savings.

Is switching to solar power worth it?

Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.

How often do you have to replace solar panels?

On average, solar panels can last 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 larger 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.

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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