The Great Bay Solar 1 project in Princess Anne, Maryland produces nearly 100MW of solar energy, providing enough electricity for 12,000 homes. This is just one renewable project that the Old Line State has completed to meet its lofty energy goals. With great support from the state, homeowners have an opportunity to save thousands of dollars with solar panels in Maryland.
If you’re looking to start a budget for an installation, we’ve got all the information you need. In this article, we cover costs, factors, and savings that come with Maryland solar. Keep reading to prepare yourself for making the switch.
Average Cost of Solar Panels in Maryland
Maryland may have some of the best solar benefits in the country for those that can afford it. Homeowners in the Old Line State can expect to pay about $2.74/W, a price higher than in most other states. For a 6kW system, Marylanders would pay around $16,440 before incentives.
We look at the average utility cost to discover if that price is justified. In Maryland, homeowners use a typical amount of electricity, a little over 950kWh a month. They also pay a balanced rate of 13.3 cents per kWh. This results in a monthly utility bill of $127.28, slightly higher than the national average. Because these numbers range on the larger end of the spectrum, installing solar panels in Maryland makes sense in most cases.
To help with installation costs, Marylanders can take advantage of a federal solar tax credit. This program returns 30% of all purchases toward a residential solar array in the form of a credit on taxes. In the Old Line State, residents could see the total price of an installation drop from $16,440 to $11,508 for 6kW.
How Much Solar Do Marylanders Need?
Because of Maryland’s higher-than-average utility usage, the above example might not line up with the power requirements of homeowners. To determine the right amount of wattage for solar panels in Maryland, you’ll need to find your daily electricity usage and divide it by the average peak sunlight for your hometown. We’ll use the Old Line State’s average to show you how to do this.
On a typical day, Marylanders require about 31.9kWh a day (957/mo). When we divide that by the state’s average peak sun of 4.47 hours, we learn that a residential solar array should produce about 7.1kW an hour. Homeowners could expect to pay $19,454 before incentives for this array, a little over $3,000 more.
Of course, these numbers are unique to your situation. Now that you know how to build your system, find your daily power usage and peak sun hours. Here’s a handy sun chart for Maryland to help you out.
Maryland Solar Cost Factors
As we’ve shown in the example above, sunlight can have a dramatic influence on the price of solar. The Old Line State’s central position within the width of the state means it receives decent peak sun. However, those on the coast may experience less depending on the time of year. For more case studies on how geography and sunlight can affect the cost of solar, compare Maryland’s rates to neighboring states.
- West Virginia
Additionally, Marylanders can save money with an appropriate choice of solar panel type. In most cases, homeowners could use monocrystalline panels, which are incredibly efficient. However, those that live in sunnier areas of Maryland could save money with polycrystalline, which isn’t as efficient but is noticeably affordable.
A factor that most residents of Maryland might overlook is the quality of the installer. With over 100 installation companies in the Old Line State, sifting through each one might prove challenging. When searching for a good solar installer, it’s worth spending a little extra; companies with a reputation will keep your solar array working for its entire lifetime.
Best Solar Installers in Maryland
With endorsements from the SEIA and US DoE, EnergySage is one of the most trusted solar review companies available. Using their set of pre-screening requirements, we can recommend high-quality installation companies for solar panels in Maryland. A few qualifications include years of experience, contractor transparency, and quality equipment and warranties. Here are our top choices.
With locations across Maryland, Revolution Solar has 14 years of experience installing solar panels. The company is family-owned and keeps its operations local, which results in great care and attention to your new system. They use top equipment and offer a 25-year warranty for parts and labor. Backed by an important NABCEP certification, you know that your solar array will last its entire lifetime.
Another great installer in the Maryland area is Nova Solar, which also serves Virginia. They’re slightly larger than Revolution Solar, which means you have the potential to save. However, they’re not so large that you have to sacrifice quality. The solar installation company comes with similar certifications and warranties but has a long list of equipment. This means you have a little more flexibility when it comes to designing the right solar panel system for your home.
Can Solar Energy Save Marylanders Money?
Although the price of solar panels in Maryland seems higher than most, there are still opportunities to save money. Offsetting your electric bill can result in thousands of dollars back over the course of a system’s lifetime. We can find out how much by first paying off the array and then looking at the total net return going forward.
After installing a solar panel system, you’ll immediately start saving money on electricity. Using a total potential offset of about $1,527.36, homeowners in Maryland could pay off a 6kW array in about 10.8 years. This is slightly higher than in some states but still reasonable.
With the system paid off, residents of the Old Line State can start seeing money in their pockets. Considering the average lifespan of solar panels in Maryland ranging from about 20-25 years, homeowners could discover net returns as much as $14,052 to $21,689.
Solar Panels in Maryland: Rebates, Credits, and Incentives
Marylanders have an opportunity to save thousands of dollars with a solar array, and that’s not where the benefits end. The Old Line State is one of the most progressive states for renewable energy, meaning that residents could save even more on installation costs. These incentives come in the form of rebates, credits, and government regulations.
To start out, homeowners that apply for the federal solar tax credit could save 30% on installation costs. This could save Marylanders nearly $5,000 when installing a 6kW array. And with available state tax credits, net metering, and other exemptions, that number could increase substantially. For a detailed breakdown of Maryland’s solar incentives, check out our benefits list.
Solar Panels in Maryland: Further Reading
Although the state features high equipment rates, homeowners can see incredible returns with solar panels in Maryland. And with great state-level support, there are plenty of benefits to help lower the cost of an installation. To learn more about Maryland’s stance on emerging technology, check out these articles.
Solar Panels in Maine: Cost, Savings, and Rebates – Compare Maryland’s solar costs to our Easternmost state.
Largest Tech Companies in Maryland – These companies make their home in the Old Line State to produce some of the most used technology in our country.
Can You Recharge an EV With Solar Power? – With a solar panel installation in Maine, you might be able to charge your electric vehicle.