Solar Panel Cost Guide in La Plata, MD (Mar 2023)
- La Plata Solar Installation Cost: $10,509
- 25-Year Savings: $9,455
- Payback Period: 13.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in La Plata
Find out what the average cost of solar panels are in La Plata.
While the national average of solar panels is $2.66 per watt, solar panels in La Plata typically cost about 2.77. Using this figure, a typical 5.4-kW system would cost about $10,509 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average La Plata homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Despite the high upfront cost, the average La Plata homeowner can save around $14,000 on their power bills over 20 years, which is one of the advantages of solar.
To receive a free quote from a pre-vetted solar company in La Plata, you can click the button below.
Solar savings over time in La Plata
| Year | Return on Investment |
|---|---|
| 1 years | $-9,711 |
| 3 years | $-8,114 |
| 5 years | $-6,517 |
| 7 years | $-4,919 |
| 9 years | $-3,322 |
| 11 years | $-1,725 |
| 13 years | $-128 |
| 15 years | $1,469 |
| 17 years | $3,066 |
| 19 years | $4,663 |
| 21 years | $6,260 |
| 23 years | $7,857 |
| 25 years | $9,455 |
Top Solar Installers in La Plata
Putting up solar panels on your own can be a stressful project, which is why hiring a solar installation company is a good option for many homeowners. Companies can also offer access to various kinds of the best solar panels and help you decide which one will be best for your home.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 La Plata
Factors that Affect Solar Panel Costs in La Plata
For many La Plata homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in La Plata, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,770. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your power bills. In addition, extra products, such as solar batteries, can bump up your total well above the La Plata average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are available from most installers in La Plata, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. Even though solar loans make going solar more accessible for La Plata homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in La Plata, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in La Plata know more 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 help you save 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 | $9,994 | 13.7 years |
| 8 kW | $2.83 | $15,822 | $13,636 | 13.4 years |
| 10 kW | $2.77 | $19,390 | $17,433 | 13.2 years |
| 12 kW | $2.71 | $22,803 | $21,385 | 12.9 years |
| 14 kW | $2.66 | $26,060 | $25,492 | 12.6 years |
| 16 kW | $2.60 | $29,163 | $29,754 | 12.4 years |
| 18 kW | $2.55 | $32,110 | $34,172 | 12.1 years |
| 20 kW | $2.49 | $34,902 | $38,744 | 11.8 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose considerably impacts your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Not all solar companies 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 choose.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 La Plata, MD Solar Cost FAQs
How much does it cost to install solar panels in La Plata?
This is a hard question to answer precisely, because the cost depends on a few different 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 cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in La Plata?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Can solar panels completely eradicate my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in La Plata, that will require at least a 10-kW system. Not all homes can accommodate 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 long do solar panels last in La Plata?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use 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.