Solar Panel Cost Guide in Cloverly, MD (2024 Update)
- Cloverly Solar Installation Cost: $13,851
- 25-Year Savings: $10,733
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Cloverly
We break down average solar pricing in Cloverly.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cloverly, the typical cost of solar panels is 4 per watt.To cover the typical energy usage of the average home in Cloverly, most homeowners require a 5.6-kilowatt system. Using the figure above, a solar installation costs around $13,851, or $19,807 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of making the switch to solar can vary quite a bit depending on a few factors, such as what size system you need, your energy consumption and what solar installer you go with.Despite the large initial cost, the average Cloverly homeowner can save around $15,000 on their power bills over 20 years, which is one of the perks of solar.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Cloverly
| Year | Return on Investment |
|---|---|
| 1 years | $-12,378 |
| 3 years | $-9,433 |
| 5 years | $-6,488 |
| 7 years | $-3,542 |
| 9 years | $-597 |
| 11 years | $2,349 |
| 13 years | $5,294 |
| 15 years | $8,240 |
| 17 years | $11,185 |
| 19 years | $14,130 |
| 21 years | $17,076 |
| 23 years | $20,021 |
| 25 years | $22,967 |
Top Solar Installers in Cloverly
Many homeowners decide to use a solar panel installer since trying to install solar panels by yourself can be challenging. Another good thing about choosing a top solar installer is that it'll likely provide warranties and free repairs, which help protect your solar system over time.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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 Cloverly
Factors that Affect Solar Panel Costs in Cloverly
While the average cost of a solar system in Cloverly is $13,851, your actual cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,540.There are many different solar panel brands and the one you pick also affects the cost. In general, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are available from most installers in Cloverly, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also adds to your overall costs, so it’s important 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 system can influence how much it costs. Cloverly’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Cloverly have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $7,692 | 16.7 years |
| 8 kW | $3.61 | $20,220 | $10,652 | 16.4 years |
| 10 kW | $3.54 | $24,780 | $13,811 | 16.1 years |
| 12 kW | $3.47 | $29,141 | $17,167 | 15.7 years |
| 14 kW | $3.40 | $33,304 | $20,723 | 15.4 years |
| 16 kW | $3.33 | $37,269 | $24,476 | 15.1 years |
| 18 kW | $3.26 | $41,036 | $28,427 | 14.8 years |
| 20 kW | $3.19 | $44,604 | $32,577 | 14.4 years |
How to Save on Solar Panels
The solar panel company you choose will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, including:
- Contract: Even 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 the terms of the warranty.
- Solar Panel Brands: The brand of solar panel you want to get plays a role in which company you should go with, since different companies have access to different panels.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
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 Cloverly, MD Solar Cost FAQs
How much does it cost to install solar panels in Cloverly?
This is a hard question to answer exactly, because the cost depends on a variety of 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $771.81 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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 get 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.