Solar Panel Cost Guide in Thurmont, MD (2024 Update)
- Thurmont Solar Installation Cost: $14,045
- 25-Year Savings: $5,334
- Payback Period: 21.5 Years
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Average Cost of Solar Panels in Thurmont
Find out how much it might cost to install solar panels in Thurmont.
The national average cost of solar panels is $2.66 per watt, but in Thurmont it’s 4 per watt.To cover the typical energy usage of the average home in Thurmont, most homeowners require a 5.7-kilowatt system. Using the figure above, a solar installation costs around $14,045, or $20,084 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of making the switch to solar can vary based on multiple factors, such as how many panels you need, your energy consumption and what company you go with.Despite the high initial cost, the average Thurmont homeowner can save around $11,000 on their energy bills over 20 years, which is one of the positives of solar.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Thurmont
| Year | Return on Investment |
|---|---|
| 1 years | $-12,792 |
| 3 years | $-10,287 |
| 5 years | $-7,782 |
| 7 years | $-5,277 |
| 9 years | $-2,772 |
| 11 years | $-266 |
| 13 years | $2,239 |
| 15 years | $4,744 |
| 17 years | $7,249 |
| 19 years | $9,754 |
| 21 years | $12,259 |
| 23 years | $14,764 |
| 25 years | $17,270 |
Top Solar Installers in Thurmont
When switching to solar energy, many homeowners choose to go with a solar installation company since putting up solar panels yourself can be a time-consuming project. Solar installers provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Thurmont
Factors that Affect Solar Panel Costs in Thurmont
There are several criteria that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.There are several different solar panel brands and the one you pick also changes the cost. In many cases, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you choose 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
Many homeowners find the average cost of solar in Thurmont to be too costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.However, the interest on solar loans also increases your overall costs, so it’s vital to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you opt for to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies operating in Thurmont, and each can charge different amounts for labor and equipment.Additionally, some companies in Thurmont are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $1,817 | 22.4 years |
| 8 kW | $3.61 | $20,220 | $2,820 | 21.9 years |
| 10 kW | $3.54 | $24,780 | $4,020 | 21.5 years |
| 12 kW | $3.47 | $29,141 | $5,419 | 21.1 years |
| 14 kW | $3.40 | $33,304 | $7,016 | 20.6 years |
| 16 kW | $3.33 | $37,269 | $8,811 | 20.2 years |
| 18 kW | $3.26 | $41,036 | $10,805 | 19.8 years |
| 20 kW | $3.19 | $44,604 | $12,996 | 19.4 years |
How to Save on Solar Panels
The solar installer you go with will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, such as:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Reputation: Make sure your solar company has a good reputation by confirming 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.
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 Thurmont, MD Solar Cost FAQs
What is the average cost of installing solar panels in Thurmont?
The average cost of solar panels in Thurmont 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 model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Thurmont?
Leasing solar panels can be an appealing choice, as it often 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 option if you want to maximize your savings.
Do solar panels increase your home value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Thurmont?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use 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.