Solar Panel Cost Guide in Hyattsville, MD (2024 Update)
- Hyattsville Solar Installation Cost: $13,517
- 25-Year Savings: $28,093
- Payback Period: 15.0 Years
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Average Cost of Solar Panels in Hyattsville
Let’s have a look at the average cost of solar in Hyattsville.
In Hyattsville, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in Hyattsville, most homeowners require a 5.5-kilowatt system. Using the figure above, a solar installation costs about $13,517, or $19,329 before the federal solar tax credit of 0 is applied.
How much you pay can be above or below the average in Hyattsville based on a few factors, such as the brand of solar panels you choose and the solar contractor you hire.With average savings of about $16,000 on energy bills over 20 years, many homeowners in Hyattsville find investing in solar has a decent ROI.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Hyattsville
| Year | Return on Investment |
|---|---|
| 1 years | $-11,853 |
| 3 years | $-8,524 |
| 5 years | $-5,195 |
| 7 years | $-1,866 |
| 9 years | $1,462 |
| 11 years | $4,791 |
| 13 years | $8,120 |
| 15 years | $11,449 |
| 17 years | $14,778 |
| 19 years | $18,106 |
| 21 years | $21,435 |
| 23 years | $24,764 |
| 25 years | $28,093 |
Top Solar Installers in Hyattsville
When making the switch to solar, many homeowners prefer to go with a solar installer since handling can be a time-consuming project. Plus, if you’d like to maximize your investment in solar power, going with a solar company can help with that as well. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives.
If you're searching for a solar company in Hyattsville, we've put together a list of our top suggestions here:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Hyattsville
Factors that Affect Solar Panel Costs in Hyattsville
There are a number of criteria that can determine 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
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay around $3,540 per kilowatt in Hyattsville.The kind of solar panels and equipment you get is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment consists of more than 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 for 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 an affordable option because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also increases your overall costs, so it’s crucial to consider that as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can affect your pricing. Hyattsville’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and find a company that offers the products, warranties and services you’re looking for and also fits 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 | $9,352 | 15.6 years |
| 8 kW | $3.61 | $20,220 | $12,866 | 15.3 years |
| 10 kW | $3.54 | $24,780 | $16,578 | 15.0 years |
| 12 kW | $3.47 | $29,141 | $20,489 | 14.7 years |
| 14 kW | $3.40 | $33,304 | $24,597 | 14.4 years |
| 16 kW | $3.33 | $37,269 | $28,904 | 14.1 years |
| 18 kW | $3.26 | $41,036 | $33,409 | 13.8 years |
| 20 kW | $3.19 | $44,604 | $38,113 | 13.5 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Hyattsville, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Companies that have been operating for many years 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 adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Hyattsville, MD Solar Cost FAQs
What is the average cost of installing solar panels in Hyattsville?
The average cost of solar panels in Hyattsville 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Hyattsville?
You can’t get solar panels for free in Hyattsville. 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’d rather own your solar panels, you can finance them with a solar loan.
Is switching to solar power worth it?
Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
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 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.