Solar Panel Cost Guide in Ferndale, MD (2024 Update)
- Ferndale 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 Ferndale
Let’s take a look at the average cost of solar in Ferndale.
Although the national average of solar panels is $2.66 per watt, solar panels in Ferndale typically cost about 4.Since a 5.3-kW system is needed to cover the energy consumption of a typical home in Ferndale, the average price of going solar will be about $13,244 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar panel system. 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 company you go with.Even with the large initial cost, the average Ferndale homeowner can save around $15,000 on their energy bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a reputable solar company in Ferndale for a custom estimate.
Solar savings over time in Ferndale
| 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 Ferndale
Trying to install solar panels on your own can be a stressful undertaking, which is why hiring a solar installer is a good option for many homeowners. Another good thing about going with a reputable solar installer is that it'll likely provide warranties and free repairs, which help protect your investment.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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
Although the average cost of a solar system in Ferndale is $13,244, your actual cost may differ. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are provided by most installers in Ferndale, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible.Although solar loans make going solar more accessible for Ferndale homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Ferndale, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Companies that 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 go with the company that provides the products, warranties and services you’re looking for and also is within 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 | $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
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 hard question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $17,700 for a 5-kW system and $35,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Ferndale?
You can’t get solar panels for free in Ferndale. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How will having solar panels impact my property 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 Ferndale is currently $433,154, so you can look forward to a value of about $17,759 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Ferndale is a worthwhile investment.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.