Solar Panel Cost Guide in Montgomery Village, MD (2024 Update)
- Montgomery Village Solar Installation Cost: $13,851
- 25-Year Savings: $11,463
- Payback Period: 15.5 Years
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Average Cost of Solar Panels in Montgomery Village
We break down average solar pricing in Montgomery Village.
The average cost of a solar panel system in Montgomery Village is 4 per watt.To cover the typical energy usage of the average home in Montgomery Village, most homeowners require a 5.6-kilowatt system. Using the figure above, a solar installation costs around $13,851, or $19,807 before the federal solar tax credit of 0 is applied.
The true cost of your system can go higher or lower than the average in Montgomery Village based on a few factors, such as the type of solar panels you choose and the solar contractor you hire.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Montgomery Village can save about $16,000 on their energy bills over 20 years.
To receive a free estimate from a highly rated solar installer in Montgomery Village, you can click the button below.
Solar savings over time in Montgomery Village
| Year | Return on Investment |
|---|---|
| 1 years | $-12,296 |
| 3 years | $-9,186 |
| 5 years | $-6,077 |
| 7 years | $-2,967 |
| 9 years | $143 |
| 11 years | $3,253 |
| 13 years | $6,363 |
| 15 years | $9,472 |
| 17 years | $12,582 |
| 19 years | $15,692 |
| 21 years | $18,802 |
| 23 years | $21,912 |
| 25 years | $25,021 |
Top Solar Installers in Montgomery Village
Although it's possible to install solar panels by yourself, it involves extra time and expertise. That's why most homeowners choose to hire a solar panel installer. The payback period on a solar system will vary depending on factors like your location and energy usage, but working with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you identify incentives available in your area.
If you’d like to go solar but still aren’t sure which solar installer to go with, here are our suggestions for providers 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 Montgomery Village
Factors that Affect Solar Panel Costs in Montgomery Village
For many Montgomery Village homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Montgomery Village, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Montgomery Village, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can gauge by looking at past power bills. Your overall cost can increase by around $3,540 for each additional kilowatt you need.The type of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Moreover, solar equipment goes beyond 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 researching a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Montgomery Village to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Montgomery Village is the company you hire to install your solar panel system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services for different budgets.You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $8,476 | 16.1 years |
| 8 kW | $3.61 | $20,220 | $11,697 | 15.8 years |
| 10 kW | $3.54 | $24,780 | $15,117 | 15.5 years |
| 12 kW | $3.47 | $29,141 | $18,735 | 15.2 years |
| 14 kW | $3.40 | $33,304 | $22,552 | 14.9 years |
| 16 kW | $3.33 | $37,269 | $26,566 | 14.6 years |
| 18 kW | $3.26 | $41,036 | $30,779 | 14.3 years |
| 20 kW | $3.19 | $44,604 | $35,190 | 14.0 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies have various brands and types of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Montgomery Village, MD Solar Cost FAQs
How much does it cost to install solar panels in Montgomery Village?
This is a tough question to answer precisely, because the cost depends on many 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Montgomery Village?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
How long do solar panels last in Montgomery Village?
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 amount 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.