Solar Panel Cost Guide in Riverdale Park, MD (2024 Update)

  • Riverdale Park Solar Installation Cost: $13,517
  • 25-Year Savings: $12,317
  • Payback Period: 14.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Riverdale Park

Let’s have a look at the average cost of solar panels in Riverdale Park.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Riverdale Park, the average cost of a solar system is 4 per watt.The average solar panel system size in Riverdale Park is around 5.5 kilowatts, meaning a cost of about $13,517 for a solar installation, or $19,329 before the 0 federal solar tax credit is applied.

Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of solar panels you choose, your solar contractor and more.Even with the large initial cost, the average Riverdale Park homeowner can save around $16,000 on their energy bills over 20 years, which is one of the perks of solar.

To get a free quote from a top solar company in Riverdale Park, you can click the button below.

Solar savings over time in Riverdale Park

Year Return on Investment
1 years $-11,811
3 years $-8,399
5 years $-4,987
7 years $-1,575
9 years $1,837
11 years $5,250
13 years $8,662
15 years $12,074
17 years $15,486
19 years $18,898
21 years $22,310
23 years $25,722
25 years $29,135

Top Solar Installers in Riverdale Park

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Using a solar panel installer can make your switch to solar power much easier. Plus, if you aren’t sure what kind of solar panels and equipment you may need, a solar company can help you find the right equipment for you after a site survey and consultation.

If you're on the hunt for a solar company in Riverdale Park, the EcoWatch team has put together a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.0

  • 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

★★★★★
4.0

  • 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 Riverdale Park

Factors that Affect Solar Panel Costs in Riverdale Park

Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that affect your total cost in Riverdale Park: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production need 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 $3,540.There are many different solar panel brands and the one you choose also changes the cost. Usually, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

If paying for a solar system out of pocket is out of reach, solar loans are an affordable route because they lower your upfront costs and allow you to pay for your system over five to seven years on average.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.

Solar Panel Installation Company

A final consideration when trying to evaluate the cost of solar for your home or business in Riverdale Park is the company you choose to install your PV system. Similar to choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that offer a range of services at different costs.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and find a company that has the products, warranties and services you’re looking for and also fits within your budget.

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 $9,719 15.4 years
8 kW $3.61 $20,220 $13,355 15.1 years
10 kW $3.54 $24,780 $17,189 14.8 years
12 kW $3.47 $29,141 $21,222 14.5 years
14 kW $3.40 $33,304 $25,453 14.2 years
16 kW $3.33 $37,269 $29,882 13.9 years
18 kW $3.26 $41,036 $34,509 13.6 years
20 kW $3.19 $44,604 $39,335 13.3 years

How to Save on Solar Panels

There are a large number of companies available in Riverdale Park, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:

  • Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
  • Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
  • Warranty: If you care about the endurance of your solar panel system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.0

  • 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

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's Riverdale Park, MD Solar Cost FAQs

How much does it cost to install solar panels in Riverdale Park?

This is a tough question to answer exactly, because the cost depends on a few different 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.

Is it better to lease or buy solar panels in Riverdale Park?

Leasing solar panels can be an appealing choice, because 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.

How will installing solar panels impact the value of my home?

Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Riverdale Park is currently $445,759, so you can expect a value of about $18,276 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Riverdale Park is a rewarding investment.

How long do solar panels last in Riverdale Park?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.

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