Solar Panel Cost Guide in Leisure World, MD (2024 Update)
- Leisure World Solar Installation Cost: $13,851
- 25-Year Savings: $12,725
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Leisure World
Find out how much it might cost to switch to solar power in Leisure World.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Leisure World, the typical cost of a solar system is 4 per watt.Using this figure, a typical 5.6-kW system would cost about $13,851 before the 0 federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you may vary based on your energy needs and what company you want to go with.Despite the significant upfront cost, the average Leisure World homeowner can save about $17,000 on their power bills over 20 years, which is one of the benefits of solar.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Leisure World
| Year | Return on Investment |
|---|---|
| 1 years | $-12,145 |
| 3 years | $-8,733 |
| 5 years | $-5,321 |
| 7 years | $-1,909 |
| 9 years | $1,503 |
| 11 years | $4,916 |
| 13 years | $8,328 |
| 15 years | $11,740 |
| 17 years | $15,152 |
| 19 years | $18,564 |
| 21 years | $21,976 |
| 23 years | $25,388 |
| 25 years | $28,801 |
Top Solar Installers in Leisure World
Installing solar panels on your own can be a time-consuming undertaking, which is why getting a solar installation company is a good option for many homeowners. Another benefit of working with a solar installer is that they can help you maximize your ROI by reducing your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Leisure World
Factors that Affect Solar Panel Costs in Leisure World
Although the average cost of a solar system in Leisure World is $13,851, your actual cost may be above or below the average. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need 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 $3,540.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Leisure World, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Leisure World, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable.Though solar loans make going solar more accessible for Leisure World homeowners, they can also increase 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 solar company you choose to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies in Leisure World, and each can charge different amounts for labor and equipment.The company’s size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and better 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 lower 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 | $3.68 | $15,463 | $9,830 | 15.3 years |
| 8 kW | $3.61 | $20,220 | $13,503 | 15.0 years |
| 10 kW | $3.54 | $24,780 | $17,375 | 14.7 years |
| 12 kW | $3.47 | $29,141 | $21,445 | 14.4 years |
| 14 kW | $3.40 | $33,304 | $25,712 | 14.1 years |
| 16 kW | $3.33 | $37,269 | $30,179 | 13.8 years |
| 18 kW | $3.26 | $41,036 | $34,843 | 13.5 years |
| 20 kW | $3.19 | $44,604 | $39,706 | 13.2 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Leisure World, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: If you’re concerned about the longevity of your solar energy system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: When looking 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 part breaking or if the company goes out of business.
- Installation Process: When making the switch to solar power, it’s necessary to maintain an open line of communication with your solar company. Make sure you understand how the installation process will go and the project completion timeline.
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you want a specific brand, make sure the solar company you’re considering has it.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Leisure World, MD Solar Cost FAQs
How much does it cost to install solar panels in Leisure World?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $17,700 for a 5-kW system and $35,400 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Leisure World?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The downside 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 way to go if you want to maximize your savings.
Is switching to solar power worth it?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.