Last Updated on March 4, 2024 by admin
Going Solar in Maryland: Is it a Worthy Investment or Not?
There are some concerns about the residential solar energy which is bothering residents in going solar in Maryland. They are confused about if solar panels installation is a Worthy Investment or Not?
In this article, we have highlighted some facts about how going solar in Maryland is worthy.
The State of Maryland
Firstly, Maryland’s landscapes and weather make it a popular destination for nature enthusiasts. More than 200 sunny days are available each year. Whether you live near the ocean or prefer the deep forests of the Allegheny Mountains, you can enjoy the beauty and weather.
All of those bright days offer more than simply plenty of opportunities to get outside. Maryland has ambitious clean energy targets, with the state aiming to generate at least 1,250 MW of electricity from renewable solar energy sources each year.
Maryland homeowners can take advantage of several attractive state solar incentives to switch to solar energy. With 6.1K current solar installations, 80 percent of the state’s rooftops were solar-viable by the end of 2018. Solar energy projects can range in size from large-scale installations or power farms to tiny consumer installations for individual residences.
Advantages of Going Solar in Maryland
In the first, going solar in Maryland does more than save you money on your income tax. Low installation costs and a five- to seven-year payback period are the outcomes of the state’s exceptional pursuit of renewable energy sources. After installing a 5.5 kW system on your home, you may expect to save more than $55,000 throughout your lifetime.
Furthermore, during the last decade, the average cost of solar panels for a home has dropped by 80% across the United States. The moment has never been better to switch to solar energy.
In addition, installing a residential solar panel system can also help preserve Maryland clean, attractive, and pollution-free for future generations.
A single 5 kW system provides the same carbon-reduction impacts as planting 200 trees. It lowers CO2 emissions and also your carbon footprint. Solar energy adoption can also help to enhance local air quality, resulting in a happier, healthier state.
Cost of Going Solar in Maryland
Even within the same state, the cost of a residential solar system might vary due to a variety of reasons. These are some of them:
- The weather of the area
- Solar energy system quality
- Solar panels Quality
- Roof materials and pitch
We reviewed SOLAR SME price quotes as well as quotes received from third-party sources for thousands of houses around the country to assist you to understand the cost of adopting solar in your location.
As, in Maryland, we discovered that the average cost of owning a 5-kW solar system ranged from $14,200 to $15,150, or $2.84 to $3.03 per watt. This is before any possible tax credits or incentives are included.
Solar Incentives in Maryland
For going solar in Maryland, the state offers qualified residential homeowners a variety of solar incentives and rebates programs.
Some of the main Maryland solar incentives include:
- The state’s solar rebate scheme offers a incentive for installing solar panels. If you invest in a solar system for your home, the state will pay you $1,000
- Furthermore, the state has a fair net metering regulation that allows you to send excess energy generated by your solar energy system to the grid in exchange for a credit on future electric bills.
- Additional benefits for going solar in Maryland may be provided by the state, local governments, and utility providers. The benefits might be in the form of cash incentives, subsidies, or rebates. The Anne Arundel County Property Tax Credit, the Maryland PV Grant, the Prince George’s Tax Credit, the Maryland Solar Renewable Energy Certificate (SREC), and the Harford County Property Tax Credit are just a few examples.
- New solar panel system owners may also be eligible for a Federal Investment Tax Credit of up to 26 percent, which you can claim when submitting your federal income taxes.
Impact of Going Solar in Maryland on Clean Environment
Well, if you are a socially responsible person and want to play some part in maintaining a clean state environment, if you are worried about your impact on the environment, then going solar is worth it.
As it is clear that solar panels utilize solar energy to produce power for the home. Installing a PV system is an environment-friendly decision because producing power with solar emits ZERO carbon dioxide or other harmful elements. Solar energy is renewable energy and it helps people in securing natural resources.
Overall, the use of solar energy for power production has some considerable positive environmental impacts. Choosing solar is the worthy, sustainable and eco-friendly option to lighten up homes.
You can learn in detail about the Solar Energy Environmental Impacts: The Benefits of Solar to Earth
Solar Panel Installation Impacts & Home Value
Like other aspects, having solar panels installed on your home roof impact positively on your home or property value. According to the Department of Energy Research Experts, installing a new solar panel set increases the value of a home by $15000 on average. What do you think this is worth or not for you? Of course, going solar is worthy and beneficial for your property value. Having a solar home helps the homeowner to earn a higher resale value!
Hence, after reading all the related aspects above, it is not difficult to answer the question that Is Solar Panels in Maryland is worthy in YES! Solar Panels Are Worth It in Maryland… Indeed, having a solar home is a complete worthy package in Maryland.
Going solar in Maryland not only saves your money but also helps you to contribute towards a clean environment. Moreover, it not only increases your home value but also with ITC Rebate, the state of Maryland bears expenses with you. Selecting solar is as follows the change for positive movement towards protecting the earth.
Solar SME specializes in the design, engineering, and installation of exceptional quality solar projects across Maryland. Request information about a solar panel installation for your home or a free quote by visiting SolarSME, Inc. website.
You can also reach us out between 9-6(CST) Monday to Friday at 214-556-8288 for consulting with our energy experts.
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