Solar Panel Cost Guide in Colesville, MD (2023 Update)
- Colesville Solar Installation Cost: $10,838
- 25-Year Savings: $11,056
- Payback Period: 12.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Colesville
We break down average solar pricing in Colesville.
The average cost of a solar system in Colesville is 2.77 per watt. To cover the typical energy needs of the average home in Colesville, most homeowners require a 5.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $10,839, or $15,500 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Colesville homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $15,000 in savings on utility bills over 20 years.
To get a free quote from a pre-vetted solar installer in Colesville, you can click the button below.
Solar savings over time in Colesville
| Year | Return on Investment |
|---|---|
| 1 years | $-9,424 |
| 3 years | $-6,595 |
| 5 years | $-3,766 |
| 7 years | $-938 |
| 9 years | $1,891 |
| 11 years | $4,720 |
| 13 years | $7,549 |
| 15 years | $10,377 |
| 17 years | $13,206 |
| 19 years | $16,035 |
| 21 years | $18,863 |
| 23 years | $21,692 |
| 25 years | $24,521 |
Top Solar Installers in Colesville
When going solar, many homeowners choose to hire a solar installer since overseeing your solar installation yourself can be a difficult project. The expertise that solar installers offer can be invaluable as well, particularly if you aren't sure what brand of solar equipment you need.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Colesville
Factors that Affect Solar Panel Costs in Colesville
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Colesville: 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 panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation 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 $2,770. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a 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 limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are available from most installers in Colesville, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. Although solar loans make adopting solar energy more accessible for Colesville homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can play a role in determining how much you pay. Colesville's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Colesville have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, 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 | $2.88 | $12,099 | $11,402 | 12.9 years |
| 8 kW | $2.83 | $15,822 | $15,513 | 12.6 years |
| 10 kW | $2.77 | $19,390 | $19,778 | 12.4 years |
| 12 kW | $2.71 | $22,803 | $24,200 | 12.1 years |
| 14 kW | $2.66 | $26,060 | $28,776 | 11.9 years |
| 16 kW | $2.60 | $29,163 | $33,507 | 11.6 years |
| 18 kW | $2.55 | $32,110 | $38,393 | 11.4 years |
| 20 kW | $2.49 | $34,902 | $43,435 | 11.1 years |
How to Save on Solar Panels
There are many companies to choose from in Colesville, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
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 Colesville, MD Solar Cost FAQs
What is the average cost of installing solar panels in Colesville?
The average cost of solar panels in Colesville is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Colesville, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.