Saturday, January 21, 2023

Is Solar Worth It In Maryland

Are Solar Panels Worth It If Youre Not In The Sunny Southwest

Solar Power in Maryland

Solar loves the sun, but you dont have to live in the sunny Southwest to achieve solar savings! In fact, solar systems can sometimes cost more in these areas because you need a larger system to cover your electricity needs due to air conditioning. Some of the states with the most installed solar in the country are in the Northeast even though theyre more famous for their cold snowy winters than their sunny summer days! These areas often have higher electricity costs and better local incentives than other states, leading to greater savings down the line.

Can You Buy And Install Your Own Solar Panels To Save Money

It is possible to buy solar panel kits and then organize the installation, permitting, and inspections yourself. Doing this could save you between $2,000 and $3,000 – potentially more.

However, there are some potential pitfalls to install solar yourself. The installation of solar panels is dangerous, as it requires you to do electrical work at great heights. Its also possible that you could damage the equipment, and it can be very difficult to claim a solar warranty when you install on your own. DIY solar projects typically suit those who are contractors, or those who know a qualified solar electrician to help them out.

If you order a DIY solar kit, you can contact a local solar contractor to assist you if you are not comfortable performing the installation on your own. In some cases, however, installers will charge you more for the installation of a DIY solar kit, making it cost the same amount it would have if you hired an installation company to do all of the work. If this is the case, it might not be worth it to install solar on your home with a DIY kit.

Therefore, if you are considering DIY solar panels, we suggest that you get at least one quote from a full-service solar company that will supply the equipment, perform the installation, and handle permitting.

Five Things To Be Aware Of Before Installing Solar In Delmarva

Utility Restricted Areas

Before you spend too much money and time on your solar project, you should first verify that the location of your proposed solar project is not located in a restricted area. Restricted areas are locations that the utility company has either limited or blocked any additional solar projects from being installed due to inadequate infrastructure such as sub-stations, transmission lines, etc. Some of the restrictions limit the size of the solar project that you can install, and other restrictions will completely restrict all solar. You can view a map of Choptank Electric Cooperatives Restricted Solar Areas here, and a map of Delmarva Powers Restricted Solar Areas here.

As of the writing of this blog post, Delaware Electric Cooperative does not have a publicized restricted area map, however, DEC customers should be aware of the following limitations. If the size of the solar project is over 100 kW AC , then the customer will have to pay to have new 3 phase service brought to their property. In some situations, the reduced cost of 3 phase equipment may help offset some of the additional service costs associated with bringing in the new 3 phase service. Furthermore, if a DEC customer wants to aggregate their meters, they too would have to bring in new service.

If you are with a small, local or city utility, you may want to check with your utility company directly. For example, the City of Seaford, Delaware has a complete restriction on solar.

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The Cost Of Solar Panels

The average cost of a solar panel in Maryland ranges from $2.40/W to $3.24/W.

Thus, the cost to install a 5kW solar panel system would range from $12,000 to $16,500. On average, one can expect to pay a gross price of $14,000 for solar in Maryland. This price does not include Federal Tax credit or any other rebates or incentives. Once those accounted for, the net price will be decreased by several thousands of dollars.

What Solar Panels Should I Install In Maryland

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The user can customize their solar panels according to their needs and demands. They can choose the batteries and aesthetic of the installation. The customizability increases the importance of understanding the various factors that can impact the solar panels performance. The solar panel with warranties and premium performance is more expensive. On the other hand, an in-depth analysis is required if high-efficiency solar panels and warranties can fit your needs.

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Solar Power Savings By Month In Marydel

A 5kW system will save someone in Marydel up to $93.23 on an average month. That’s significant given the average Maryland power bill of $139.91 per month. Heres a monthly breakdown:

Month

Data based on 1 zip in Marydel, MD. Data reliability is rated excellent.

Savings Methodology

We estimate savings with a system that is very efficient at 19% of energy captured with a standard 5% total system loss. System loss comes from both the unavoidable and the avoidable Do note that the system will b e slightly less efficient as it ages, too.

For example, July is the highest-sun month in Marydel with an average of 5.65 kW per meter per day. An efficient 5 kW system will cover about 25 square meters depending on the roof. So, the following is the savings calculation for July in Marydel:

5.65 kW/m2 * 25m2 = 141.34 kW/day available

141.34 * 19% efficiency = 26.85 kW/day captured

26.85 kW * 95% system retention = 25.51 kW/day usable

25.51 kW * Maryland average of $0.14 per kW * 30 days = up to $110.72 in savings in an average July.

These assumptions are very good for the average home in Marydel, but nothing beats the accuracy of getting your own quote.

Who Are The Best Solar Panel Installation Companies Near Me

As the largest consumer reviews site for the residential solar industry, we have reviews of most solar panel installation companies.

We also have rankings for solar energy companies so that you can refine your search for the best local solar company to only those companies that service your local area.

Compare the prices of the best-rated solar providers near you online

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Other Types Of Net Metering

  • Aggregate net metering is available to agricultural producers, non-profit organizations, and municipal governments and their affiliated organizations.
  • Virtual net metering is the vehicle Maryland is using for its three-year community solar pilot program. Once the pilot ends, the Public Service Commission will make recommendations to the legislature for future virtual net metering legislation.

Residential 5 Kw System

Community Solar in Maryland presentation from Solar United Neighbors

Federal tax credit: 30% with no maximum

Final cost after tax credits: $14,665

Est. energy savings per year: $1,119

Time to recover costs: 13 years 1 month

30-year savings: $18,905

Federal tax credit: 30% with no maximum

Final cost after tax credits: $135,450

Est. energy savings per year: $11,186

Time to recover costs: 12 years 1 month

30-year savings: $200,115

State discounts are not calculated due to complex pricing, frequent change, and individual variations such as the property taxes on your home or business. Overall, financial incentives in most of Maryland are very good, so expect to pay less vs. the above. All partner solar power companies will help you determine which incentives you qualify for. You may either request a quote by clicking above or try checking for state solar incentives on DSIRE.org’s site here.

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Residential Clean Energy Rebate Program

The Residential Clean Energy Rebate Program can further reduce the payback period of residential solar energy systems in Maryland, and is applicable to PV systems with 1 20 kW DC capacity. The R-CERP allows state residents acquiring new rooftop solar systems to apply for a $1000 solar rebate. Other renewable energy installations, like Geothermal or Solar Water Heating systems, are also eligible for this R-CERP rebate.

Are Solar Panels Worth It In Maryland

Everyone has their own method for determining if solar is worth it. If your objective is to leverage solar to eliminate or reduce your electric bill you have different expectations of someone who is more interested in reducing their carbon footprint.

To help you determine the best option for you you can use this solar calculator that will weigh different solar options and other renewable energy options.

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Leasing Versus No Solar At All

In California as of 2015, the cost of solar was 15.42 cents/kWh and it has historically increased by 2.5% annually.

If this homeowners energy needs were actually just the 6,016 kWh that his SolarCity system would have provided, than we can do some math to figure out what he would pay to his utility company over the same 20 year period.

Price per kWh: 15.42 cents

Monthly Payment: $77

Price per kWh: 17 cents

Monthly Payment: $85.33

Price per kWh: 18.77 cents

Monthly Payment: $94.07

Price per kWh: 21.23 cents

Monthly Payment: $106.47

Price per kWh: 24 cents

Monthly Payment: $120.42

As you can see, the price of standard electricity from a utility company rises at a slower rate than the price of a solar lease from SolarCity! Of course, this is not accounting for any potential factors that could drastically change the price of electricity from the grid in the future.

In the end, this same homeowner would be paying around $23,700 for energy from his electric company over the same 20 year period.

You read that right, its actually $300 LESS than he would have paid for his solar lease from SolarCity.

History Of Solar Policy In Maryland

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In the Free State, solar energy has flourished as a significant industry over the last few years. Currently, the state ranks 14th in SEIAs national rankings with a total solar energy capacity of more than 1,000 megawatts . However, such an achievement for a modest-sized state did not happen overnight. In fact, Maryland was an early proponent of enacting solar legislation even back in the 1980s prior to most other states acting on solar.

As the solar industry began to emerge, states interested in harnessing this technology understood that they needed to define clear market laws for their residents to live by. Maryland was one of the states to take the lead in this field by implementing solar easement and rights laws in 1980. Specifically, this policy ensures that property owners have the right to install solar collection panels without having to worry about land use covenants imposing limitations on their investment. This policy is important for a primary reason: it establishes that solar is treated as seriously as an individuals property rights. Maryland would later enhance the language of these rights in 2008 providing additional detailed protections for solar energy systems.

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Are There Disadvantages To Using Solar Energy In Maryland

Solar panels can be a great investment, but its important to consider the downsides. First, solar panels are very expensive. Luckily, there are tax incentives in place to help you save. Solar panels also arent appropriate for all homes, since they rely on sunlight to power your home. If you dont get a lot of sunlight at your home, solar panels may not be right for you. Consider all of the pros and cons of solar before making your decision.

The Future Of Energy Is Solar In Maryland

Solar power has a bright future in Maryland. While the state didnt start implementing solar policies as early as some other states, its experienced an impressive number of solar installations over the past decade. Residential, commercial, utility, and community solar programs are thriving.

Maryland currently ranks in the top half of states for solar energy generation. The state gets about 4.31 percent of its electricity from solar energy, which is enough to power 153,463 homes. There are also 177 solar companies in the state that are responsible for more than 4,500 jobs. The state is expected to see more than 1,300 MW of new solar installations over the next five years.

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Is It Worth Going Solar In Maryland

Due to high electricity costs and above-average energy consumption rates, the average monthly electric bill is high in Maryland, which in turn makes going solar extremely beneficial for state residents. Maryland is also a state with great solar potential, and comes 17th out of all US states in the Solar Power Potential Ranking according to the NDEE-Energy & Assistance Division.

Specifically, with an average electricity cost of 12.84 ¢/kWh, . The average monthly electricity bill in Maryland is around $127.92, which is also 26% higher than average monthly bills in California, 35% than in Washington, and a whopping 69% higher than in Utah.

These higher bills are also partly due to high rates of energy use. The average Maryland home consumes up to 1,005 kilowatts-hour a month and 12,060 kilowatt-hours per year, and the state comes 20th in the United States when it comes to average household power consumption. To put this in perspective, these consumption rates are 11.3% higher than the national average of 903 kWh/month.

An average-sized 5 kW DC solar system can generate up to 7,000 kWh of electricity each year in Maryland, supplying enough solar energy to cover 58% of your average power needs. According to the National Renewable Energy Laboratory database, a slightly larger 8.7 9 kW DC capacity rooftop solar system is the perfect size for maximizing solar savings in Maryland

Solar Installers In Maryland: Sunpro Solar Trusted Solar Company

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Since 2008, Sunpro Solar has a proven history and reputation for providing quality service, and was ranked #2 for 2021 Solar Power Worlds Top Residential Solar Installer in the United States. We are proud to offer some of the best warranties you can find in the solar industry and only use products that offer the same.

  • 25 Year Labor Warranty
  • 25 Year Solar Panel Manufacturer Warranty
  • 25 Year Enphase Microinverter Warranty
  • Roof replacement experts

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Does My Roof Have To Face Due South For Solar Panels To Produce Enough Electricity

While solar panels facing due south do produce the most overall electricity, its perfectly fine to have panels facing southwest and southeast.

As solar prices continue to fall, panels are being put on west-facing roof spaces even though they produce about 15% less electricity.

This is especially common for those with time-of-use electricity billing, who wish to move their solar generation to later in the afternoon in order to save money on their electricity bills.

How Is The Cost Of Solar Panels For Homes In Maryland Offset By Solar Tax Credits

The cost of installation of renewable energy systems in Maryland is supported by the federal solar investment tax credit.

The amount of this tax credit is currently 26% of the value of the solar system and it is claimed on your taxes in the year after installation.

Many people mistakenly refer to this tax credit as the Maryland solar tax credit but it is actually a federal tax credit.

Solar panel cost calculator

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Your Battery Backup For Solar Panels Solves This Problem

With an independent solar system battery backup, you can continue to enjoy electricity, even when everything around you goes dark. Even with the grid down, and without your panels producing current, the essential systems in your home will still remain fully powered and operational. So, with a solar power battery backup, you can have your cake and eat it! Not only are you paying far less for your electricity bills, but you can have assured power when the rest of the block is in darkness!

Appraisers And Lenders Enter The Picture

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Buying and selling real estate complicates what seems like a simple issuebuyers want them, homeowners want them, people who love the planet want them, and we all like the effect solar panels have on our energy costs. But the tricky part comes when the appraiser needs to determine if they add value or not, and the lender needs to agree with the value-add.

Appraisers and lenders have been trying to catch up with solar technology, along with other energy-saving features, in terms of calculating the effect, or lack of, on home values in any given market. Any time new items or features enter the picture, appraisers need time to see their effect on the market. Lenders need even more time to make sure the value is really there.

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Solar Panel System Sales Tax Exemption

Maryland residents are usually subject to a 6% sales tax on purchases. The Solar Panel System Sales Tax Exemption in Maryland removes this tax exclusively for solar products, however. This can result in a close to 6% discount on solar installation costs in the state.

When added to the 26% tax credit ITC above, Maryland residents can cut down on the cost of installing residential solar systems by almost one-third! Keep in mind, however, that the PV system must be installed on a residential property that is eligible for net metering in order to qualify for this sales tax exemption.

Solar Renewable Energy Credits

The Maryland Solar Renewable Energy Credits is a state program to encourage home PV systems, and at the same time helps the state achieve its ambitious renewable energy goals. The program allows for rooftop solar system owners to earn one SREC credit for each megawatt-hour of electricity generated by their PV system. This credit can be sold on the states SREC trade market to businesses or utilities looking to comply with clean energy requirement laws. In for one credit.

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