Solar Panel Cost Guide in Edgewater, MD (2023 Update)
- Edgewater Solar Installation Cost: $10,363
- 25-Year Savings: $10,531
- Payback Period: 12.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Edgewater
Let's have a look at the average cost of solar panels in Edgewater.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Edgewater, the typical cost of solar panels is 2.77 per watt. The average Edgewater homeowner needs a 5.3-kilowatt system, which would cost about $10,354 with the federal tax credit, or $14,806 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of making the switch to solar can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what installation company you go with. With average savings of about $15,000 on electricity bills over 20 years, many homeowners in Edgewater find going solar has a decent ROI.
Click the button below to get connected to a reputable solar installer in Edgewater for a custom quote.
Solar savings over time in Edgewater
| Year | Return on Investment |
|---|---|
| 1 years | $-10,293 |
| 3 years | $-10,154 |
| 5 years | $-10,015 |
| 7 years | $-9,875 |
| 9 years | $-9,736 |
| 11 years | $-9,597 |
| 13 years | $-9,458 |
| 15 years | $-9,318 |
| 17 years | $-9,179 |
| 19 years | $-9,040 |
| 21 years | $-8,900 |
| 23 years | $-8,761 |
| 25 years | $-8,622 |
Top Solar Installers in Edgewater
When switching to solar energy, many homeowners decide to use a solar installer since installing a solar system yourself can be a challenging project. Plus, if you're unsure what type of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.
Working with a professional solar company can help your solar project go smoothly. 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 Edgewater
Factors that Affect Solar Panel Costs in Edgewater
For many Edgewater homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Edgewater, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Edgewater, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $2,770 for each additional kilowatt you need. The type of solar panels and equipment you get is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are offered by most installers in Edgewater, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. Though solar loans make switching to solar energy more accessible for Edgewater homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. 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
A final factor to consider when trying to evaluate the cost of solar for your home or business in Edgewater is the company you hire to install your PV system. As with choosing a company to install new cabinets, for example, there's no shortage of solar installers that provide a range of services at different costs. The company's size sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down 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 | $2.88 | $12,099 | $11,357 | 12.9 years |
| 8 kW | $2.83 | $15,822 | $15,453 | 12.6 years |
| 10 kW | $2.77 | $19,390 | $19,704 | 12.4 years |
| 12 kW | $2.71 | $22,803 | $24,110 | 12.2 years |
| 14 kW | $2.66 | $26,060 | $28,671 | 11.9 years |
| 16 kW | $2.60 | $29,163 | $33,387 | 11.7 years |
| 18 kW | $2.55 | $32,110 | $38,259 | 11.4 years |
| 20 kW | $2.49 | $34,902 | $43,285 | 11.2 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose significantly impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: When looking 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 component breaking or if the company goes out of business.
- Installation Process: When going solar, it's important to keep an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the completion timeline.
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 Edgewater, MD Solar Cost FAQs
How much does it cost to install solar panels in Edgewater?
This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to think about 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.
Does Edgewater have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home 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.