Solar Panel Cost Guide in Timonium, MD (2024 Update)

  • Timonium Solar Installation Cost: $13,849
  • 25-Year Savings: $10,057
  • 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

Why you can trust EcoWatch

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 Timonium

Find out what the average cost of solar panels are in Timonium.

The average cost of a solar panel system in Timonium is 4 per watt.Since a 5.6-kW system is needed to cover the energy costs of a typical home in Timonium, the average price of going solar will be about $13,849 after claiming the federal solar tax credit of 0.

Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of solar system you choose, your solar contractor and more.Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Timonium can save about $14,000 on their power bills over 20 years.

You can click the button below to get connected with a pre-vetted solar company in Timonium that can help you get a more accurate cost estimate for your home.

Solar savings over time in Timonium

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 Timonium

Although it's possible to install solar panels on your own, it requires extra effort and knowledge. Because of that, almost all homeowners choose a solar panel installer. Solar warranties and repairs are typically included in the cost of installation when you sign a contract with a solar contractor as well, which can save you more money after your upfront investment.

You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some in Timonium:

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 Timonium

Factors that Affect Solar Panel Costs in Timonium

The cost of installing a solar system in Timonium can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.

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 need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,540.The type of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.

Solar Financing Terms

Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Timonium homeowners choose to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also increases your overall costs, so it’s crucial to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.

Solar Panel Installation Company

A final consideration when trying to estimate the cost of solar for your home or business in Timonium is the company you choose to install your PV system. As with choosing a company to install new cabinets, for example, there’s no shortage of solar installers that provide a range of services for different budgets.You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment 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

There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
  • Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely provide quality solar panel installation and expertise.
  • Contract: Though reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Warranty: A comprehensive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.

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 Timonium, MD Solar Cost FAQs

What is the average cost of installing solar panels in Timonium?

The average cost of solar panels in Timonium 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 certain factors such as the model of solar panels you want, what size system you need and how much energy you use.

Is it better to lease or buy solar panels in Timonium?

Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property 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 bang for your buck from going solar.

Can solar panels significantly reduce my power bills?

Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $747.69 per year.

How often do you have to replace solar panels?

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 choose to replace them once you've had them for that long or you can keep using 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.

Follow us