Solar Panel Cost Guide in Greenbelt, MD (2024 Update)
- Greenbelt Solar Installation Cost: $13,517
- 25-Year Savings: $11,650
- Payback Period: 15.2 Years
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Average Cost of Solar Panels in Greenbelt
We go over average solar pricing in Greenbelt.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Greenbelt, the average cost of a solar system is 4 per watt.The average solar panel system size in Greenbelt is around 5.5 kilowatts, meaning a cost of about $13,517 for a solar installation, or $19,329 before the 0 federal solar tax credit is applied.
The true price you pay can be above or below the average in Greenbelt depending on a few factors, such as the model of solar panels you choose and the solar contractor you hire.Many homeowners find going solar is a sound investment. The average homeowner in Greenbelt can save about $15,000 on their power bills over 20 years.
Click the button below to get connected to a highly rated solar panel company in Greenbelt for a custom estimate.
Solar savings over time in Greenbelt
| Year | Return on Investment |
|---|---|
| 1 years | $-11,957 |
| 3 years | $-8,836 |
| 5 years | $-5,716 |
| 7 years | $-2,596 |
| 9 years | $525 |
| 11 years | $3,645 |
| 13 years | $6,766 |
| 15 years | $9,886 |
| 17 years | $13,007 |
| 19 years | $16,127 |
| 21 years | $19,247 |
| 23 years | $22,368 |
| 25 years | $25,488 |
Top Solar Installers in Greenbelt
Although it's possible to install solar panels by yourself, it requires extra effort and knowledge. That's why most people choose to hire a solar panel installer. Solar warranties and repairs are typically included in the cost of installation when you go with a solar company too, which can save you more money after your initial investment.
If you’d like to go solar but still aren’t certain which solar installer to go with, here are our suggestions for providers nearby:
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 Greenbelt
Factors that Affect Solar Panel Costs in Greenbelt
There are many factors that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Greenbelt average.
Solar Financing Terms
Many homeowners find the average cost of solar in Greenbelt to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Greenbelt is the company you get to install your solar panel system. Similar to 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.The company’s size can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater 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 promotion can bring their pricing lower to compete with bigger companies.
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 | $8,986 | 15.8 years |
| 8 kW | $3.61 | $20,220 | $12,377 | 15.5 years |
| 10 kW | $3.54 | $24,780 | $15,967 | 15.2 years |
| 12 kW | $3.47 | $29,141 | $19,756 | 14.9 years |
| 14 kW | $3.40 | $33,304 | $23,742 | 14.6 years |
| 16 kW | $3.33 | $37,269 | $27,927 | 14.3 years |
| 18 kW | $3.26 | $41,036 | $32,310 | 14.0 years |
| 20 kW | $3.19 | $44,604 | $36,891 | 13.7 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can research your installer’s reputation is by reading reviews.
- Contract: Before signing a contract with a solar installer, be sure to read it through carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
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 Greenbelt, MD Solar Cost FAQs
How much does it cost to install solar panels in Greenbelt?
The average cost of solar panels in Greenbelt 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 type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Greenbelt?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
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 higher 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.