Strong Incentives: Various state and federal incentives including tax credits and rebates.
1:1 Net Metering: Full retail credit for excess energy produced, enhancing the return on investment for solar system owners.
Diverse Financing Options: Broad range of leasing and financing options to accommodate different financial needs.

Utility Rate Breakdown

Understanding the utility rates is crucial for demonstrating potential solar savings to homeowners. Here are current rates for major providers in Maryland:

Baltimore Gas & Electric (BGE): Approximately 18-20 cents per kWh.
PEPCO (Potomac Electric Power Company): Around 18-20 cents per kWh.
Potomac Edison: Typically 18-20 cents per kWh.
Delmarva Power: Generally 18-20 cents per kWh.

Solar Pricing in Maryland

The average cost of installing solar panels in Maryland ranges from $3.20 to $3.40 per watt, competitive with national averages and made more affordable with available incentives.

Solar Adoption: Lease vs. Finance Split

In Maryland, there is a balanced approach to solar adoption:

50% Lease: Suitable for customers who prefer lower upfront costs and less responsibility for maintenance.
50% Finance: Attracts those looking to maximize the financial benefits and own the system outright.

Maryland Solar Renewable Energy Certificates (SRECs)

SREC Value: Each megawatt-hour (MWh) of solar energy produced can earn homeowners or businesses one SREC, currently trading at approximately $58.
Eligibility: SRECs are available for systems that are financed or purchased outright, not available for leased systems.

Approved Solar Installers in Maryland

Having a network of reputable and trusted installers is crucial. Some top-rated installers in Maryland include:

Renu Installer MD
Team Sunshine Installer MD
Nexus Installer MD

These companies generally have customer ratings between 4.7 and 4.9 stars, indicating high customer satisfaction.

Solar Financing & Lending Partners

Several lenders offer various financing options to support solar adoption in Maryland:

Dividend
Sunlight
Posigen (offers a no credit lease option)
Enfin
Sungage
IGS
GoodLeap
GoodLeap TPO

Additional Market Insights

The Maryland solar market benefits significantly from its strategic policies and market framework, which encourage both residential and commercial solar adoption. Future market trends might be influenced by changes in federal policy, advancements in solar technology, and shifts in consumer preferences towards sustainable energy solutions.

This organized and detailed guide will help energy advisors provide comprehensive and compelling information to potential clients, highlighting the benefits and feasibility of solar investments in Maryland.