Solar Panel Cost Guide in Bensville, MD (2024 Update)
- Bensville Solar Installation Cost: $13,435
- 25-Year Savings: $9,452
- Payback Period: 16.8 Years
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Average Cost of Solar Panels in Bensville
Let’s take a look at the average cost of solar panels in Bensville.
The national average cost of solar panels is $2.66 per watt, but in Bensville it’s 4 per watt.Since a 5.4-kW system is needed to cover the energy consumption of a typical home in Bensville, the average price of going solar will be about $13,435 after claiming the federal solar tax credit of 0.
These figures are only averages, and how much solar costs for you may vary based on the amount of energy your home requires and what company you go with.But, once you've paid the initial cost of installation, the ROI for most homeowners is quite good, with a net average savings of about $14,000 over 20 years on energy bills.
To receive a free quote from a top solar installer in Bensville, you can click the button below.
Solar savings over time in Bensville
| Year | Return on Investment |
|---|---|
| 1 years | $-12,100 |
| 3 years | $-9,431 |
| 5 years | $-6,762 |
| 7 years | $-4,093 |
| 9 years | $-1,424 |
| 11 years | $1,245 |
| 13 years | $3,914 |
| 15 years | $6,583 |
| 17 years | $9,252 |
| 19 years | $11,921 |
| 21 years | $14,590 |
| 23 years | $17,260 |
| 25 years | $19,929 |
Top Solar Installers in Bensville
Putting up solar panels on your own can be a time-consuming task, which is why using a solar installation company is a good option for many homeowners. Plus, if you’re unsure what type of solar panels and equipment you want, a solar installer can help you figure that out after a site survey and consultation.
If you're searching for a solar installer in Bensville, the EcoWatch team has compiled a list of our top suggestions here:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Bensville
Factors that Affect Solar Panel Costs in Bensville
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Bensville: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,540.The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Bensville have solar loans, which reduce the initial cost of installing a solar system.Although solar loans make going solar more accessible for Bensville homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can impact your pricing. Bensville’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.68 | $15,463 | $6,631 | 17.5 years |
| 8 kW | $3.61 | $20,220 | $9,238 | 17.2 years |
| 10 kW | $3.54 | $24,780 | $12,043 | 16.8 years |
| 12 kW | $3.47 | $29,141 | $15,046 | 16.5 years |
| 14 kW | $3.40 | $33,304 | $18,248 | 16.2 years |
| 16 kW | $3.33 | $37,269 | $21,648 | 15.8 years |
| 18 kW | $3.26 | $41,036 | $25,246 | 15.5 years |
| 20 kW | $3.19 | $44,604 | $29,042 | 15.1 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar company, make sure you read it through fully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Bensville, MD Solar Cost FAQs
What is the average cost of installing solar panels in Bensville?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $17,700 for a 5-kW system and $35,400 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How will solar panels impact the value of my home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Bensville is currently $451,243, which means you can look forward to a value of about $18,501 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Bensville is a worthwhile investment.
How long do solar panels last in Bensville?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.