Solar Panel Cost Guide in Edgewood, MD (2023 Update)
- Edgewood Solar Installation Cost: $13,833
- 25-Year Savings: $10,070
- Payback Period: 16.6 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Edgewood
Let’s take a look at the average cost of solar in Edgewood.
The average cost of a solar system in Edgewood is 4 per watt.Because a 5.6-kW system is needed to cover the energy needs of a typical home in Edgewood, the average price of going solar will be about $13,833 after claiming the federal solar tax credit of 0.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy needs, the type of equipment you want to get, your solar contractor and more.Many homeowners find installing a solar system is a fruitful investment. The average homeowner in Edgewood can save around $14,000 on their energy bills over 20 years.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Edgewood
| Year | Return on Investment |
|---|---|
| 1 years | $-12,419 |
| 3 years | $-9,590 |
| 5 years | $-6,761 |
| 7 years | $-3,933 |
| 9 years | $-1,104 |
| 11 years | $1,725 |
| 13 years | $4,554 |
| 15 years | $7,382 |
| 17 years | $10,211 |
| 19 years | $13,040 |
| 21 years | $15,869 |
| 23 years | $18,697 |
| 25 years | $21,526 |
Top Solar Installers in Edgewood
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Taking advantage of a solar company can make converting to solar power much easier. Local solar companies can also help you maximize your return on investment by walking you through any local incentives and by providing warranties and repairs.
If you’d like to go solar but still aren’t sure which solar panel company to go with, here are our recommendations for providers in Edgewood:
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 Edgewood
Factors that Affect Solar Panel Costs in Edgewood
For many Edgewood homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Edgewood, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.There are many different solar panel brands and the one you pick also changes the cost. In general, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable choice because they reduce your upfront costs and let you pay for your system over five to seven years on average.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Edgewood is the company you choose to install your solar system. As with choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services at different costs.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $6,994 | 17.2 years |
| 8 kW | $3.61 | $20,220 | $9,722 | 16.9 years |
| 10 kW | $3.54 | $24,780 | $12,648 | 16.6 years |
| 12 kW | $3.47 | $29,141 | $15,772 | 16.2 years |
| 14 kW | $3.40 | $33,304 | $19,095 | 15.9 years |
| 16 kW | $3.33 | $37,269 | $22,616 | 15.6 years |
| 18 kW | $3.26 | $41,036 | $26,335 | 15.2 years |
| 20 kW | $3.19 | $44,604 | $30,252 | 14.9 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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 Edgewood, MD Solar Cost FAQs
How much does it cost to install solar panels in Edgewood?
The average cost of solar panels in Edgewood is about $17,700 for a 5-kW system and $35,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff 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 in addition to cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can solar panels significantly reduce my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Edgewood, 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.
What solar power system size is right for 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 generally 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.