Solar Panel Cost Guide in Ocean City, MD (2024 Update)
- Ocean City Solar Installation Cost: $12,650
- 25-Year Savings: $15,384
- Payback Period: 12.5 Years
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Average Cost of Solar Panels in Ocean City
Let’s take a look at the average cost of solar in Ocean City.
Although the national average of solar panels is $2.66 per watt, solar panels in Ocean City typically cost around 4.The average Ocean City homeowner needs a 5.1-kilowatt system, which would cost about $12,650 with the federal tax credit, or $18,090 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Ocean City homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Even with the high initial cost, the average Ocean City homeowner can save about $19,000 on their power bills over 20 years, which is one of the positives of solar.
To receive a free estimate from a highly rated solar installation company in Ocean City, you can click the button below.
Solar savings over time in Ocean City
| Year | Return on Investment |
|---|---|
| 1 years | $-10,937 |
| 3 years | $-7,511 |
| 5 years | $-4,085 |
| 7 years | $-659 |
| 9 years | $2,767 |
| 11 years | $6,193 |
| 13 years | $9,618 |
| 15 years | $13,044 |
| 17 years | $16,470 |
| 19 years | $19,896 |
| 21 years | $23,322 |
| 23 years | $26,748 |
| 25 years | $30,174 |
Top Solar Installers in Ocean City
Many homeowners choose to hire a solar installer since trying to install solar panels by yourself can be a lot of work. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Ocean City
Factors that Affect Solar Panel Costs in Ocean City
Although the average cost of a solar system in Ocean City is $12,650, your actual cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a solar system 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 consumes, the larger your system will likely need to be. You can expect to spend around $3,540 per kilowatt in Ocean City.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Ocean City, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Ocean City provide solar loans, which reduce the initial cost of installing solar panels.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’re only able to 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 significantly.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can play a role in determining the cost. Ocean City’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies compete with them by promoting 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 | $14,252 | 13.0 years |
| 8 kW | $3.61 | $20,220 | $19,400 | 12.8 years |
| 10 kW | $3.54 | $24,780 | $24,745 | 12.5 years |
| 12 kW | $3.47 | $29,141 | $30,289 | 12.3 years |
| 14 kW | $3.40 | $33,304 | $36,031 | 12.0 years |
| 16 kW | $3.33 | $37,269 | $41,971 | 11.8 years |
| 18 kW | $3.26 | $41,036 | $48,109 | 11.5 years |
| 20 kW | $3.19 | $44,604 | $54,446 | 11.3 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose greatly impacts your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Review the contract terms closely to make sure you understand the total cost, project completion timeline rebates and warranties.
- Installation Process: When making the switch to solar, it’s necessary to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the project completion timeline.
- Solar Panel Brands: Different companies will have various brands and models of panels. If you want a specific brand, make sure the solar company you’re considering has it.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Ocean City, MD Solar Cost FAQs
How much does it cost to install solar panels in Ocean City?
The average cost of solar panels in Ocean City is about $17,700 for a 5-kW system and $35,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Ocean City?
A solar panel system isn’t free in Ocean City, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on energy bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Ocean City, that will require at least a 10-kW system. Not all homes can accommodate 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 many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.