Solar Panel Cost Guide in Naval Academy, MD (2024 Update)
- Naval Academy Solar Installation Cost: $13,244
- 25-Year Savings: $10,531
- Payback Period: 15.8 Years
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Average Cost of Solar Panels in Naval Academy
Let’s take a look at the average cost of solar in Naval Academy.
The national average cost of solar panels is $2.66 per watt, but in Naval Academy it’s 4 per watt.The average Naval Academy homeowner needs a 5.3-kilowatt system, which would cost about $13,244 with the federal tax credit, or $18,939 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of making the switch to solar can vary quite a bit based on several factors, such as what size system you need, your energy consumption and what installation company you go with.For many homeowners, the upfront cost of solar panels is worth paying. On average Naval Academy homeowners see about $15,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a top solar installer in Naval Academy for a custom quote.
Solar savings over time in Naval Academy
| Year | Return on Investment |
|---|---|
| 1 years | $-11,829 |
| 3 years | $-9,001 |
| 5 years | $-6,172 |
| 7 years | $-3,343 |
| 9 years | $-514 |
| 11 years | $2,314 |
| 13 years | $5,143 |
| 15 years | $7,972 |
| 17 years | $10,801 |
| 19 years | $13,629 |
| 21 years | $16,458 |
| 23 years | $19,287 |
| 25 years | $22,115 |
Top Solar Installers in Naval Academy
Many homeowners choose to hire a solar installer since trying to put up solar panels on your own can be a labor-intensive endeavor. Some solar companies, particularly local ones, can help you make the most of incentives in Naval Academy, therefore optimizing your ROI.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Naval Academy
Factors that Affect Solar Panel Costs in Naval Academy
The cost of installing a solar system in Naval Academy can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.There are a lot of different solar panel brands and the one you pick also affects the cost. In general, the brands that are more efficient tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Naval Academy, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable.When figuring out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Naval Academy is the company you hire to install your solar system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services for different budgets.You may see national solar installers that have lower prices due to 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 | $7,994 | 16.5 years |
| 8 kW | $3.61 | $20,220 | $11,055 | 16.2 years |
| 10 kW | $3.54 | $24,780 | $14,314 | 15.8 years |
| 12 kW | $3.47 | $29,141 | $17,771 | 15.5 years |
| 14 kW | $3.40 | $33,304 | $21,427 | 15.2 years |
| 16 kW | $3.33 | $37,269 | $25,281 | 14.9 years |
| 18 kW | $3.26 | $41,036 | $29,333 | 14.6 years |
| 20 kW | $3.19 | $44,604 | $33,583 | 14.3 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 pick the right company for you, here are some tips to keep in mind:
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of options before deciding.
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 Naval Academy, MD Solar Cost FAQs
How much does it cost to install solar panels in Naval Academy?
This is a hard 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Naval Academy?
Leasing solar panels can be an option if you can’t afford 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 bang for your buck from going solar.
How will having solar panels impact how much my home is worth?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
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 their energy production will have decreased significantly after that point. You can decide to replace them after having 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.