Solar Panel Cost Guide in Overlea, MD (2025 Update)
- Overlea 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 Overlea
We go over average solar pricing in Overlea.
The national average cost of solar panels is $2.66 per watt, but in Overlea it’s 4 per watt.Since a 5.6-kW system is needed to cover the energy costs of a typical home in Overlea, the average price of going solar will be about $13,849 after claiming the federal solar tax credit of 0.
The true price you pay can be higher or lower than the average in Overlea depending on a variety of factors, such as the model of solar panels you choose and the solar company you hire.Many homeowners find going solar is a rewarding investment. The average homeowner in Overlea can save around $14,000 on their energy bills over 20 years.
To get a free estimate from a pre-vetted solar company in Overlea, you can click the button below.
Solar savings over time in Overlea
| 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 Overlea
Although it's possible to install solar panels on your own, it requires extra effort and expertise. For that reason, most people choose a solar panel installer. Another upside of working with a solar installer is that they can help you maximize your investment by cutting back on future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
If you’d like to start using solar energy but still aren’t certain which solar panel company to go with, here are our suggestions for providers near you:
See all of the solar companies in Overlea
Factors that Affect Solar Panel Costs in Overlea
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Overlea: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar system in Overlea, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by around $3,540 for each additional kilowatt you need.The model of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Moreover, solar equipment consists of 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 out of pocket is out of reach, solar loans are an affordable route because they lower your upfront costs and let you pay for your system over five to seven years on average.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installation company you select will play a role in your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions 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 | $6,968 | 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
Since the brand of solar panels and the installation company you choose has an impact on 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:
- Solar Panel Brands: Different companies offer various brands and types of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
EcoWatch's Overlea, MD Solar Cost FAQs
How much does it cost to install solar panels in Overlea?
The average cost of solar panels in Overlea 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 things such as the model 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 Overlea?
Leasing solar panels can be an appealing choice, as it often 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 way to go if you want to get the most savings.
How will having solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Overlea is currently $285,605, which means you can look forward to a value of about $11,710 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Overlea is a fruitful investment.
How long do solar panels last in Overlea?
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 amount 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.