Solar Panel Cost Guide in Randallstown, MD (2024 Update)
- Randallstown 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 Randallstown
We go over average solar pricing in Randallstown.
While the national average of solar panels is $2.66 per watt, solar panels in Randallstown typically cost about 4.To account for the typical energy usage of the average home in Randallstown, most homeowners require a 5.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $13,849, or $19,804 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of solar system you choose, your solar contractor and more.Even with the high upfront cost, the average Randallstown homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the perks of solar.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Randallstown
| 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 Randallstown
Installing solar panels yourself can be a dangerous project, which is why getting a solar installation company is a good option for many homeowners. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be right for you.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some near you:
Best National Provider
SunPower
- 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
- 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
See all of the solar companies in Randallstown
Factors that Affect Solar Panel Costs in Randallstown
Even though the average cost of a solar system in Randallstown is $13,849, your actual cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar energy system in Randallstown, 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 determine by looking at past electricity bills. Your total cost can increase by about $3,540 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Randallstown, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of 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 out of reach, solar loans are an affordable route because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.Though solar loans make going solar more accessible for Randallstown homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Randallstown, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that has the products, warranties and services you want and also fits within your budget.
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
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
Best National Provider
SunPower
- 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
- 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
EcoWatch's Randallstown, MD Solar Cost FAQs
What is the average cost of installing solar panels in Randallstown?
This is a difficult question to answer precisely, because the cost depends on many 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 additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Randallstown?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home 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.
Can solar panels completely eradicate my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Randallstown, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 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.
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.