Solar Panel Cost Guide in Hillandale, MD (Mar 2023)
- Hillandale Solar Installation Cost: $10,703
- 25-Year Savings: $12,190
- Payback Period: 11.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Hillandale
Let's take a look at the average cost of solar panels in Hillandale.
In Hillandale, solar panels cost about 2.77 per watt on average. Because a 5.5-kW system is needed to cover the energy needs of a typical home in Hillandale, the average price of going solar will be about $10,703 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of going solar can vary based on a few factors, such as how many panels you need, your energy usage and what company you go with. Even with the high initial cost, the average Hillandale homeowner can save about $16,000 on their energy bills over 20 years, which is one of the positives of solar.
To get a free estimate from a top solar installer in Hillandale, you can click the button below.
Solar savings over time in Hillandale
| Year | Return on Investment |
|---|---|
| 1 years | $-9,788 |
| 3 years | $-7,956 |
| 5 years | $-6,125 |
| 7 years | $-4,293 |
| 9 years | $-2,462 |
| 11 years | $-630 |
| 13 years | $1,201 |
| 15 years | $3,033 |
| 17 years | $4,864 |
| 19 years | $6,696 |
| 21 years | $8,527 |
| 23 years | $10,359 |
| 25 years | $12,190 |
Top Solar Installers in Hillandale
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make switching to solar power much easier. Also, companies with a good reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you're on the hunt for a solar company in Hillandale, we've put together a list of our top suggestions here:
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 Hillandale
Factors that Affect Solar Panel Costs in Hillandale
Though the average cost of a solar system in Hillandale is $10,703, your actual cost may differ. There are quite a few 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. 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 a lot of different solar panel brands and the one you choose also affects the cost. Generally, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are an affordable route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Hillandale is the company you hire to install your PV system. As with choosing a company to install new cabinets, for instance, there's no shortage of solar installers that provide a range of services at different costs. Additionally, some companies in Hillandale are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $12,779 | 12.2 years |
| 8 kW | $2.83 | $15,822 | $17,348 | 11.9 years |
| 10 kW | $2.77 | $19,390 | $22,073 | 11.7 years |
| 12 kW | $2.71 | $22,803 | $26,953 | 11.5 years |
| 14 kW | $2.66 | $26,060 | $31,989 | 11.2 years |
| 16 kW | $2.60 | $29,163 | $37,179 | 11.0 years |
| 18 kW | $2.55 | $32,110 | $42,524 | 10.8 years |
| 20 kW | $2.49 | $34,902 | $48,025 | 10.5 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose greatly affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- 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 likely has a good reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Contract: Before you sign a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: The type of solar panel you want plays a role in which company you should go with, since different companies offer different panels.
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 Hillandale, MD Solar Cost FAQs
How much does it cost to install solar panels in Hillandale?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally 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 higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Are solar panels free in Hillandale?
You can't get solar panels for free in Hillandale. 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.
Can solar panels eliminate my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Hillandale, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
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 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.