Solar Panel Cost Guide in Hyattsville, MD (Mar 2023)
- Hyattsville Solar Installation Cost: $10,568
- 25-Year Savings: $11,993
- Payback Period: 11.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Hyattsville
Find out what the average cost of solar panel installation is in Hyattsville.
The average cost of a solar panel system in Hyattsville is 2.77 per watt. To cover the typical energy needs of the average home in Hyattsville, most homeowners require a 5.5-kilowatt system. Using the figure above, a solar installation costs around $10,568, or $15,112 before the federal solar tax credit of 30% is applied.
The actual price you pay can go higher or lower than the average in Hyattsville based on several factors, such as the kind of solar panels you choose and the solar installer you hire. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Hyattsville can save about $16,000 on their energy bills over 20 years.
To receive a free quote from a highly rated solar company in Hyattsville, you can click the button below.
Solar savings over time in Hyattsville
| Year | Return on Investment |
|---|---|
| 1 years | $-9,665 |
| 3 years | $-7,860 |
| 5 years | $-6,055 |
| 7 years | $-4,251 |
| 9 years | $-2,446 |
| 11 years | $-641 |
| 13 years | $1,164 |
| 15 years | $2,969 |
| 17 years | $4,774 |
| 19 years | $6,578 |
| 21 years | $8,383 |
| 23 years | $10,188 |
| 25 years | $11,993 |
Top Solar Installers in Hyattsville
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using an installer can make swapping over to solar power much easier. A solar installer can also help save you money over time by providing warranties, repairs and part replacements.
Working with a professional solar company can make going solar easier. 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 Hyattsville
Factors that Affect Solar Panel Costs in Hyattsville
There are several factors that can affect 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 panels.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use 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. There are many different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you choose 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
Most solar companies in Hyattsville offer solar loans, which reduce the initial cost of installing a solar system. However, the interest on solar loans also increases your total costs, so it's important to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you hire to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies operating in Hyattsville, and each can charge varying amounts for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 | $12,716 | 12.2 years |
| 8 kW | $2.83 | $15,822 | $17,264 | 12.0 years |
| 10 kW | $2.77 | $19,390 | $21,968 | 11.7 years |
| 12 kW | $2.71 | $22,803 | $26,827 | 11.5 years |
| 14 kW | $2.66 | $26,060 | $31,842 | 11.3 years |
| 16 kW | $2.60 | $29,163 | $37,011 | 11.0 years |
| 18 kW | $2.55 | $32,110 | $42,335 | 10.8 years |
| 20 kW | $2.49 | $34,902 | $47,815 | 10.5 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 brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Different companies will have various brands and models of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Warranty: If you care about the longevity of your solar system, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can check your installer's reputation is by reading reviews.
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 Hyattsville, MD Solar Cost FAQs
What is the average cost of installing solar panels in Hyattsville?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Hyattsville?
You can't get solar panels for free in Hyattsville. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact the value of my home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Hyattsville is currently $291,376, which means you can look forward to a value of about $11,946 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Hyattsville is a rewarding investment.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.