Solar Panel Cost Guide in Colesville, MD (2023 Update)
- Colesville Solar Installation Cost: $10,839
- 25-Year Savings: $11,055
- Payback Period: 12.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Colesville
Find out how much it might cost to switch to solar power in Colesville.
The national average cost of solar panels is $2.66 per watt, but in Colesville it's 2.77 per watt. Since a 5.6-kW system is needed to cover the energy needs of a typical home in Colesville, the average price of going solar will be about $10,839 after claiming the federal solar tax credit of 30%.
These figures are only estimates, and your own solar costs will vary based on your energy needs and what company you go with. Many homeowners find going solar is a solid investment. The average homeowner in Colesville can save around $15,000 on their electricity bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Colesville that can help you get a more accurate cost estimate for your home.
Solar savings over time in Colesville
| Year | Return on Investment |
|---|---|
| 1 years | $-9,963 |
| 3 years | $-8,212 |
| 5 years | $-6,460 |
| 7 years | $-4,709 |
| 9 years | $-2,957 |
| 11 years | $-1,206 |
| 13 years | $546 |
| 15 years | $2,297 |
| 17 years | $4,049 |
| 19 years | $5,800 |
| 21 years | $7,552 |
| 23 years | $9,303 |
| 25 years | $11,055 |
Top Solar Installers in Colesville
Although you can install solar panels by yourself, it requires extra energy and know-how. That's why almost all homeowners choose to hire a solar panel installer. Companies can also have access to a large variety of the best solar panels and help you pick which one will be right for your family.
If you'd like to go solar but still aren't certain which solar panel company to go with, here are our suggestions for providers near you:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Colesville
Factors that Affect Solar Panel Costs in Colesville
There are several factors that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
When it comes to estimating the price of a solar panel system in Colesville, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by around $2,770 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 energy bills. In addition, add-on products, such as solar batteries, can bring your total well above the Colesville average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Colesville homeowners opt to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you opt for to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Colesville, and each can charge varying amounts for labor and equipment. Additionally, some companies in Colesville know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Installation Process: When going solar, it's crucial to maintain an open line of communication with your solar installer. See to it that you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: The brand of solar panel you need plays a role in which installer you should choose, since different companies offer different panels.
- Contract: Although 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.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Colesville, MD Solar Cost FAQs
What is the average cost of installing solar panels in Colesville?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will be more expensive if you want other 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 opt for a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after switching to solar?
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 will have roofs that 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?
The exact number of solar panels you need depends on your household energy needs and the average daily 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 install between 20 and 35 panels to account for 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.