Solar Panel Cost Guide in Edgewater, MD (2024 Update)
- Edgewater Solar Installation Cost: $13,244
- 25-Year Savings: $10,531
- Payback Period: 15.8 Years
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Average Cost of Solar Panels in Edgewater
We go over average solar pricing in Edgewater.
The average cost of a solar panel system in Edgewater is 4 per watt.The average solar panel system size in Edgewater is around 5.3 kilowatts, meaning a cost of about $13,244 for a solar installation, or $18,939 before the 0 federal solar tax credit 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 installing solar panels can vary depending on a few factors, such as what size system you need, your energy usage and what company you go with.Many homeowners find going solar is a solid investment. The average homeowner in Edgewater can save about $15,000 on their power bills over 20 years.
To receive a free quote from a highly rated solar installation company in Edgewater, you can click the button below.
Solar savings over time in Edgewater
Year | Return on Investment |
---|---|
1 years | $-11,829 |
3 years | $-9,001 |
5 years | $-6,172 |
7 years | $-3,343 |
9 years | $-514 |
11 years | $2,314 |
13 years | $5,143 |
15 years | $7,972 |
17 years | $10,801 |
19 years | $13,629 |
21 years | $16,458 |
23 years | $19,287 |
25 years | $22,115 |
Top Solar Installers in Edgewater
When going solar, many homeowners decide to use a solar company since DIY solar panel installation can be a challenging project. Solar warranties and repairs are often included in the cost of installation when you go with a solar contractor too, which can save you more money over time.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Edgewater
Factors that Affect Solar Panel Costs in Edgewater
The cost of installing a solar system in Edgewater can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,540. There are several different solar panel brands and the one you choose also changes the cost. Typically, the brands that are more efficient tend to also cost more. Plus, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Edgewater to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time because of interest.You’ll have to consider the long-term cost of loans, 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installation company you pick will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Edgewater know more 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 | $3.68 | $15,463 | $7,994 | 16.5 years |
8 kW | $3.61 | $20,220 | $11,055 | 16.2 years |
10 kW | $3.54 | $24,780 | $14,314 | 15.8 years |
12 kW | $3.47 | $29,141 | $17,771 | 15.5 years |
14 kW | $3.40 | $33,304 | $21,427 | 15.2 years |
16 kW | $3.33 | $37,269 | $25,281 | 14.9 years |
18 kW | $3.26 | $41,036 | $29,333 | 14.6 years |
20 kW | $3.19 | $44,604 | $33,583 | 14.3 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose significantly influences your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Edgewater, MD Solar Cost FAQs
What is the average cost of installing solar panels in Edgewater?
The average cost of solar panels in Edgewater is about $17,700 for a 5-kW system and $35,400 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Edgewater?
Solar panels aren’t free in Edgewater, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Do solar panels increase your home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Edgewater is currently $529,955, which means you could be looking at a value of about $21,728 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Edgewater is a fruitful investment.
How long do solar panels last in Edgewater?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.