Solar Panel Cost Guide in Cheverly, MD (2024 Update)
- Cheverly Solar Installation Cost: $13,517
- 25-Year Savings: $11,650
- Payback Period: 15.2 Years
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Average Cost of Solar Panels in Cheverly
Let’s have a look at the average cost of solar in Cheverly.
The average cost of a solar system in Cheverly is 4 per watt.Using this figure, a typical 5.5-kW system would cost about $13,517 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.But, once you've paid the initial cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $15,000 over 20 years on electricity bills.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Cheverly
| Year | Return on Investment |
|---|---|
| 1 years | $-11,957 |
| 3 years | $-8,836 |
| 5 years | $-5,716 |
| 7 years | $-2,596 |
| 9 years | $525 |
| 11 years | $3,645 |
| 13 years | $6,766 |
| 15 years | $9,886 |
| 17 years | $13,007 |
| 19 years | $16,127 |
| 21 years | $19,247 |
| 23 years | $22,368 |
| 25 years | $25,488 |
Top Solar Installers in Cheverly
Installing solar panels yourself can be a challenging undertaking, which is why getting a solar installation company is a good option for many homeowners. Plus, if you’d like to maximize your investment in solar energy, going with a solar company can help with that as well. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some in Cheverly:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Cheverly
Factors that Affect Solar Panel Costs in Cheverly
Even though the average cost of a solar system in Cheverly is $13,517, your final cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar system in Cheverly, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can gauge by looking at past electricity bills. Your total cost can increase by about $3,540 for each additional kilowatt you need.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your electric bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Cheverly average.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are an affordable route because they cut back your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also adds to your total costs, so it’s vital to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can play a role in determining how much it costs. Cheverly’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $8,986 | 15.8 years |
| 8 kW | $3.61 | $20,220 | $12,377 | 15.5 years |
| 10 kW | $3.54 | $24,780 | $15,967 | 15.2 years |
| 12 kW | $3.47 | $29,141 | $19,756 | 14.9 years |
| 14 kW | $3.40 | $33,304 | $23,742 | 14.6 years |
| 16 kW | $3.33 | $37,269 | $27,927 | 14.3 years |
| 18 kW | $3.26 | $41,036 | $32,310 | 14.0 years |
| 20 kW | $3.19 | $44,604 | $36,891 | 13.7 years |
How to Save on Solar Panels
There are a lot of companies available in Cheverly, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar installer. Make sure you understand how the installation process will go and the completion timeline.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Cheverly, MD Solar Cost FAQs
What is the average cost of installing solar panels in Cheverly?
This is a hard question to answer exactly, because the cost depends on many factors. Generally 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Cheverly?
You can’t get solar panels for free in Cheverly. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $814.95 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can 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.