Solar panel installation can be pricey. If you’re looking for information on how to lease or finance solar panels in Maryland, you’ve come to the right place!
How much does it cost to finance solar panels in Maryland?
The average cost of a MD solar panel installation is between $12,000 and $17,000. That’s typically the amount most homeowners are looking to finance after any Maryland solar tax credits, grants, and incentives have been applied.
Customers have the option of purchasing a system outright with cash, credit, or traditional financing, or choosing one of our leasing options. The primary advantage to owning vs. leasing a Maryland solar panel system is that owning your system provides the option to sell your Solar Renewable Energy Credits (SRECs) for additional income, on top of an increase in utility bill savings.
What Maryland solar panel financing options are available?
As a leading Maryland solar panel installer, Solar Energy World offers customers multiple financing options to suit various needs. If owning a system isn’t an option, we offer both MD Solar Leases and Power Purchase Agreements (PPA). While solar leases and solar PPAs are similar, there are distinct differences.
What is a Maryland solar lease?
In our MD solar leases, homeowners are able to rent a Solar Energy World solar panel system for a monthly fee, with $0 down. This allows you to take advantage of lower electricity costs, predictable payments, the option to store excess energy, and more.
What is a Maryland Power Purchase Agreement?
In a Power Purchase Agreement, for as little as $0 down, we’ll install your solar power system, and you can purchase that power at a set rate that’s typically lower than what you pay your utility company. With our RateGuardian™ PPAs, customers usually see 20-30% monthly savings on their utility bill. There are also rent-to-own options available with our power purchase agreements.