Calculate how much you can save on your Potomac Edison bill with solar panels

Average 25 year solar savings for a Potomac Edison customer: $36,213

Average solar panel cost: $14,649 - $17,904*

Estimate solar panel cost and savings based on your location, roof and power use.

*Solar panel cost varies by location, solar panel mqanufacturer, system size and the amount of electricity your home uses.

Adding solar panels and switching rate plans can lower your Potomac Edison Maryland electric bill

Updated: October 22, 2020

There are three ways you can reduce your Potomac Edison bill: changing your habits, switching your rate plan, and adding solar panels.

You've probably heard a lot about reducing energy consumption by doing things like switching to LED lightbulbs and adding insulation to your walls, but these fixes are relatively easy compared to the far more impactful step of making changes to your lifestyle.

The second thing you can do is switch your rate plan. Potomac Edison doesn't offer time-of-use billing that can help you save money by shifting your usage of energy-intensive appliances to off-peak hours, but there may be other options for you .

Finally, you can reduce or even eliminate your electricity bill by installing solar panels on your home.

Solar panel cost calculator

How much can I reduce my Potomac Edison Maryland bill by switching to a different rate plan

For some people, the savings from switching rate plans may only be a few dollars per month, but for many it can be $20-$100 per month. That's between $240 and $1,200 that you may now be paying to Potomac Edison Maryland each year for no reason.

Finding out what's available to you is as simple as a phone call or email to Potomac Edison Maryland. Even a small savings can be worth it.

Are solar panels worth it for Potomac Edison Maryland customers?

Absolutely. Maryland has a juicy SREC program which amounts to $900 annually for you as a solar owner. The state also offers a $1,000 solar rebate, battery storage rebate, and solar sales and property tax exemptions; making solar panels for your home a smart choice for Potomac Edison customers. Potomac’s net metering policy also ensures you get credited on your power bill at full retail rates for the excess solar electricity your panels produce. Your credits are rolled over and applied to your next month’s bill.

Does Potomac Edison Maryland offer full 1 for 1 net metering credits for exported solar power

Yes, Potomac Edison Maryland offers 1 for 1 net metering. This means you are paid the same rate for excess solar energy that you export to the utility grid during the middle of the day as what you pay for power purchased from the grid.

In the case of Potomac Edison Maryland, this is approximately $0.12 per kWh.

What incentives, tax credits and rebates are available to Potomac Edison customers for installing solar?

The major financial incentive currently available until the end of 2020 is the 26% federal solar tax credit. The way this works is that the full cost of the system needs to be paid to the installer, and this tax credit can then be claimed back as cash when you next do your taxes.

Many states, local governments and utilities also offer incentives for homeowners who go solar. This help can take the form of state tax credits, rebates, tax breaks, SRECs or even performance-based incentives. The best part is that all of these incentives apply in addition to the federal credit.

Here is every incentive you may be eligible for as a Potomac Edison customer:

Table 1: Incentives
Upfront Incentives Value*
Residential Renewable Energy Tax Credit (Federal) -$5,459
Solar Renewable Energy Certificates (SRECs) (State) Varies
Energy Storage Tax Credit (State)

30% of the costs to install battery storage, up to $5,000 maximum incentive. First come, first served basis, up to $750,000 maximum annual in the state.

Varies
Property Tax Exemption for Clean Energy Systems (State)

100% property tax exemption for solar energy property

Varies
Residential Clean Energy Grant Program (State)

Fixed $1,000 grant

-$1,000
Net Metering (State)

Utilities must provide compensation for excess energy at the full retail rate

Varies
Sales and Use Tax Exemption for Solar Energy Equipment (State)

Sales and use tax does not apply to solar energy equipment

Varies
TOTAL -$6,459

*Based on 9.53 kW system, average installation cost $21,996

How much does installing solar panels save the average Potomac Edison Maryland residential customer?

If you input the details for a Potomac Edison customer with a power bill of $140 per month into the best online solar panels calculator, it tells you that you need a 9.53 kW solar system that will produce 12,269 kWh per year and that this system will return the owner a $36,213 profit after repaying the cost of the system.

The solar savings possible for you as a Potomac Edison customer will depend on the amount of electricity you use and the cost of the solar system you buy. Savings also vary based on the direction of your roof or any shading of your roof that affects output.

Here is a monthly and lifetime solar savings estimate for the same relatively typical Potomac Edison customer with a $140 per month electric bill prior to solar and who installs a 9.53 kW solar system.

How much do residential solar panels cost for Potomac Edison customers?

Showing data for:

Prices based on a 12.9kW system, after 26% federal tax credit

Solar prices near you

Cost range of local prices

$22,671-$27,708

Net profit (savings less system cost)

$34,400-$42,044

Payback period

10.5-12.8 years

Recommended size for the selected utility bill

12.9kW

Solar panel cost calculator

Detailed information about your estimate

Table 2: Estimate details

System Size (for 100% usage offset)

9.53 kW

Annual Power Generation

12,269 kWh

Pay-back time (assuming Cash purchase)

9.1 Years

Internal Rate of Return (IRR) on Investment

6.8%

Gross cost

$21,996

Total Upfront Incentives and Rebates

-$7,719

Net Cost of System after rebates and incentives

$14,278

Total Cost of Utility Power Avoided over 25 years

$50,491

Please note that the investment return figures do not include the possible increase in property value.

What are the environmental impacts of Potomac Edison Maryland customers installing solar panels?

While most homeowners decide to install solar panels because of financial savings over time, the environmental impacts of this choice are the primary motive for others. Here is a breakdown of the environmental benefits from a Potomac Edison Maryland customer installing a 9.53 kW solar system on their property:

A solar system generating 12,269 kWh per year will save you money AND make the world a nicer place

Saves you

$1,449

on average per year

Reduces CO2 emissions

6.07

tons per year

Equivalent to planting

43 trees

per year

Equivalent to driving

13,435 mi

less per year

CO2 emissions calculation based on the electricity generation and emissions data for your state in 2015 as published by the US Government Energy Information Administration.

What factors affect the price of solar panels for Potomac Edison Maryland customers?

The cost of installing solar panels will vary with brands of solar panels and inverters you choose and also the installation company you choose to install them.

It is common to see really good systems, using quality brands of equipment, being sold for around $2.31 per watt or $14,278 for a standard 9.53 kW solar system after the customer claims the 26% federal solar tax credit.

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