Solar Panel Cost Guide in Cambridge, MD (2024 Update)
- Cambridge Solar Installation Cost: $13,317
- 25-Year Savings: $14,862
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in Cambridge
Find out how much it might cost to make the switch to solar in Cambridge.
While the national average of solar panels is $2.66 per watt, solar panels in Cambridge typically cost about 4.To cover the typical energy usage of the average home in Cambridge, most homeowners require a 5.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $13,317, or $19,043 before the federal solar tax credit of 0 is applied.
The actual price you pay can be higher or lower than the average in Cambridge based on a few factors, such as the kind of solar panels you choose and the solar company you hire.With average savings of about $18,000 on utility bills over 20 years, many homeowners in Cambridge find installing solar panels can be quite rewarding.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Cambridge
| Year | Return on Investment |
|---|---|
| 1 years | $-11,604 |
| 3 years | $-8,178 |
| 5 years | $-4,752 |
| 7 years | $-1,326 |
| 9 years | $2,100 |
| 11 years | $5,525 |
| 13 years | $8,951 |
| 15 years | $12,377 |
| 17 years | $15,803 |
| 19 years | $19,229 |
| 21 years | $22,655 |
| 23 years | $26,081 |
| 25 years | $29,507 |
Top Solar Installers in Cambridge
Many homeowners choose to use a solar installation company since trying to install solar panels yourself can be a lot of work. The payback period of solar panels will vary based on factors like your roof configuration and energy consumption, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Cambridge
Factors that Affect Solar Panel Costs in Cambridge
Although the average cost of a solar system in Cambridge is $13,317, your actual cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Cambridge, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Cambridge to be too costly, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies in Cambridge, and each can charge different amounts for labor and equipment.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions 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 | $12,764 | 13.7 years |
| 8 kW | $3.61 | $20,220 | $17,415 | 13.4 years |
| 10 kW | $3.54 | $24,780 | $22,264 | 13.2 years |
| 12 kW | $3.47 | $29,141 | $27,311 | 12.9 years |
| 14 kW | $3.40 | $33,304 | $32,557 | 12.6 years |
| 16 kW | $3.33 | $37,269 | $38,001 | 12.4 years |
| 18 kW | $3.26 | $41,036 | $43,643 | 12.1 years |
| 20 kW | $3.19 | $44,604 | $49,484 | 11.9 years |
How to Save on Solar Panels
There are many companies to choose from in Cambridge, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: When looking over your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a good company.
- Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar panel installer. Make sure you understand how the installation process will go and the project timeline.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Cambridge, MD Solar Cost FAQs
How much does it cost to install solar panels in Cambridge?
This is a hard question to answer precisely, 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact my home value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.