Solar Panel Cost Guide in Greenbelt, MD (Mar 2023)
- Greenbelt Solar Installation Cost: $10,568
- 25-Year Savings: $11,660
- Payback Period: 11.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Greenbelt
We go over average solar pricing in Greenbelt.
The national average cost of solar panels is $2.66 per watt, but in Greenbelt it's 2.77 per watt. Since a 5.5-kW system is needed to cover the energy usage of a typical home in Greenbelt, the average price of going solar will be about $10,568 after claiming the federal solar tax credit of 30%.
How much you pay can be higher or lower than the average in Greenbelt depending on several factors, such as the model of solar panels you choose and the solar installer you hire. For many homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $15,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a top solar installer in Greenbelt that can help you get a more accurate cost estimate for your home.
Solar savings over time in Greenbelt
| Year | Return on Investment |
|---|---|
| 1 years | $-9,678 |
| 3 years | $-7,900 |
| 5 years | $-6,122 |
| 7 years | $-4,344 |
| 9 years | $-2,566 |
| 11 years | $-788 |
| 13 years | $991 |
| 15 years | $2,769 |
| 17 years | $4,547 |
| 19 years | $6,325 |
| 21 years | $8,103 |
| 23 years | $9,882 |
| 25 years | $11,660 |
Top Solar Installers in Greenbelt
Although you can install solar panels yourself, it takes extra energy and handiness. That's one of the reasons most homeowners choose to go with a solar panel installer. The payback period of solar panels will vary based on factors like your location and energy usage, but working with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you identify incentives available in your area.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Greenbelt
Factors that Affect Solar Panel Costs in Greenbelt
There are a number of criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,770. The kind of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, 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 looking into a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid choice because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years. 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 more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Greenbelt is the company you hire to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that provide a range of services at different price points. The size of the company sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and bulk 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 | $12,349 | 12.4 years |
| 8 kW | $2.83 | $15,822 | $16,776 | 12.1 years |
| 10 kW | $2.77 | $19,390 | $21,357 | 11.9 years |
| 12 kW | $2.71 | $22,803 | $26,094 | 11.7 years |
| 14 kW | $2.66 | $26,060 | $30,986 | 11.4 years |
| 16 kW | $2.60 | $29,163 | $36,033 | 11.2 years |
| 18 kW | $2.55 | $32,110 | $41,235 | 10.9 years |
| 20 kW | $2.49 | $34,902 | $46,593 | 10.7 years |
How to Save on Solar Panels
The company that does your 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:
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Warranty: If you're concerned about the endurance of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- 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 quality aftercare and customer support, such as part repairs and replacements.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Greenbelt, MD Solar Cost FAQs
What is the average cost of installing solar panels in Greenbelt?
The average cost of solar panels in Greenbelt is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Greenbelt?
Leasing solar panels can be an appealing choice, because it commonly 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Does Greenbelt have a net metering program?
Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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 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.