Solar Panel Cost Guide in Ferndale, MD (2023 Update)
- Ferndale Solar Installation Cost: $10,354
- 25-Year Savings: $10,540
- Payback Period: 12.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Ferndale
Find out what the average cost of solar panels are in Ferndale.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Ferndale, the typical cost of a solar system is 2.77 per watt. Using this figure, a typical 5.3-kW system would cost about $10,354 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, the type of solar panels you want, your solar contractor and more. But, after you've paid the upfront cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $15,000 over 20 years on utility bills.
You can click the button below to get connected with a top solar installer in Ferndale that can help you get a more accurate cost estimate for your home.
Solar savings over time in Ferndale
| Year | Return on Investment |
|---|---|
| 1 years | $-9,518 |
| 3 years | $-7,847 |
| 5 years | $-6,175 |
| 7 years | $-4,504 |
| 9 years | $-2,832 |
| 11 years | $-1,161 |
| 13 years | $511 |
| 15 years | $2,182 |
| 17 years | $3,854 |
| 19 years | $5,525 |
| 21 years | $7,197 |
| 23 years | $8,868 |
| 25 years | $10,540 |
Top Solar Installers in Ferndale
Many homeowners opt for a solar installation company since trying to put up solar panels on your own can be challenging. Companies can also offer access to quality options of the best solar panels and help you choose which one will be right for your home.
If you'd like to start using solar energy but still aren't sure which solar panel company to go with, here are our suggestions for providers in Ferndale:
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 Ferndale
Factors that Affect Solar Panel Costs in Ferndale
There are several criteria that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it's important 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 choose also affects the cost. Typically, the brands that have better efficiency tend to also be more expensive. Additionally, 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
Most solar companies in Ferndale provide solar loans, which reduce the initial cost of installing a solar system. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Ferndale is the company you choose to install your PV system. As with choosing a company to renovate your kitchen, for instance, you'll have no shortage of solar installers that offer a range of services for different budgets. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that has the products, warranties and services you want and also fit into your budget.
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 model of solar panels and the company you choose has an impact on 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:
- Solar Panel Brands: The model of solar panel you'd like plays a part in which installer you should choose, since different companies offer different panels.
- Contract: Before you sign a contract with a solar installer, be sure to read it through fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: If you care about the durability of your solar energy system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most 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.
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 Ferndale, MD Solar Cost FAQs
How much does it cost to install solar panels in Ferndale?
This is a tough question to answer precisely, 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 additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Ferndale?
Most states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses 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 household 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.