Solar Panel Cost Guide in Oxon Hill, MD (2023 Update)
- Oxon Hill Solar Installation Cost: $10,577
- 25-Year Savings: $12,317
- Payback Period: 11.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Oxon Hill
Find out how much it might cost to switch to solar power in Oxon Hill.
The national average cost of solar panels is $2.66 per watt, but in Oxon Hill it's 2.77 per watt. The average solar panel system size in Oxon Hill is around 5.5 kilowatts, meaning a cost of about $10,568 for a solar installation, or $15,112 before the 30% federal solar tax credit is applied.
These figures are just estimates, and your own solar costs may look different based on the amount of energy your home requires and what company you go with. For most homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $16,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar company in Oxon Hill that can help you get a more accurate cost estimate for your home.
Solar savings over time in Oxon Hill
| Year | Return on Investment |
|---|---|
| 1 years | $-10,501 |
| 3 years | $-10,348 |
| 5 years | $-10,195 |
| 7 years | $-10,043 |
| 9 years | $-9,890 |
| 11 years | $-9,738 |
| 13 years | $-9,585 |
| 15 years | $-9,432 |
| 17 years | $-9,280 |
| 19 years | $-9,127 |
| 21 years | $-8,974 |
| 23 years | $-8,822 |
| 25 years | $-8,669 |
Top Solar Installers in Oxon Hill
When making the switch to solar, many homeowners opt to go with a solar installation company since putting up a solar system yourself can be a challenging project. Some solar installers, particularly local ones, can help you take advantage of incentives in Oxon Hill, optimizing your ROI.
If you're looking for a solar company in Oxon Hill, the EcoWatch team has organized a list of our top suggestions here:
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 Oxon Hill
Factors that Affect Solar Panel Costs in Oxon Hill
For many Oxon Hill homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Oxon Hill, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay about $2,770 per kilowatt in Oxon Hill. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are provided by most installers in Oxon Hill, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. While solar loans make going solar more accessible for Oxon Hill homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. 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
Lastly, the company you opt for to install your solar panels can play a role in determining how much it costs. Oxon Hill's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies compete 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 car 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 | $13,082 | 12.0 years |
| 8 kW | $2.83 | $15,822 | $17,753 | 11.8 years |
| 10 kW | $2.77 | $19,390 | $22,579 | 11.6 years |
| 12 kW | $2.71 | $22,803 | $27,561 | 11.3 years |
| 14 kW | $2.66 | $26,060 | $32,697 | 11.1 years |
| 16 kW | $2.60 | $29,163 | $37,989 | 10.9 years |
| 18 kW | $2.55 | $32,110 | $43,435 | 10.6 years |
| 20 kW | $2.49 | $34,902 | $49,037 | 10.4 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on 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: Review the contract terms carefully to make sure you understand the overall cost, project timeline incentives and warranties.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: The brand of solar panel you want to get plays a role in which company you should opt for, since different companies offer different panels.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a good company.
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 Oxon Hill, MD Solar Cost FAQs
How much does it cost to install solar panels in Oxon Hill?
This is a difficult question to answer precisely, because the cost depends on many 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. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Oxon Hill?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The drawback 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How will solar panels impact the value of my home?
Solar panels can increase your property's value significantly as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.