Solar Panel Cost Guide in Riverdale Park, MD (Feb 2023)
- Riverdale Park Solar Installation Cost: $10,568
- 25-Year Savings: $12,326
- Payback Period: 11.6 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Riverdale Park
Here's how much it might cost to make the switch to solar in Riverdale Park.
While the national average of solar panels is $2.66 per watt, solar panels in Riverdale Park generally cost around $3. The average Riverdale Park homeowner needs a 5.5-kilowatt system, which would cost about $10,568, or $7,820 after the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy consumption, the type of equipment you want, your solar contractor and more. For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Riverdale Park see about $16,000 in savings on electricity bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Riverdale Park
| Year | Return on Investment |
|---|---|
| 1 years | $-9,652 |
| 3 years | $-7,820 |
| 5 years | $-5,989 |
| 7 years | $-4,157 |
| 9 years | $-2,326 |
| 11 years | $-494 |
| 13 years | $1,337 |
| 15 years | $3,169 |
| 17 years | $5,000 |
| 19 years | $6,832 |
| 21 years | $8,663 |
| 23 years | $10,495 |
| 25 years | $12,326 |
Top Solar Installers in Riverdale Park
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Hiring an installer can make your switch to solar power much easier. The expertise that solar companies provide can be invaluable as well, especially if you aren't sure what type of solar equipment would be right for your home.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some in Riverdale Park:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Riverdale Park
Factors that Affect Solar Panel Costs in Riverdale Park
For many Riverdale Park homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Riverdale Park, with typical prices between $20,000 to $40,000. There are a few factors that significantly 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 installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $2,770 per kilowatt in Riverdale Park. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Riverdale Park average.
Solar Financing Terms
Most solar installers in Riverdale Park offer solar loans, which reduce your upfront costs of installing solar. However, the interest on solar loans also increases your overall costs, so it's crucial to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installation company you pick will affect your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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
There are a large number of companies available in Riverdale Park, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Riverdale Park, MD Solar Cost FAQs
How much does it cost to install solar panels in Riverdale Park?
The average cost of solar panels in Riverdale Park is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Riverdale Park?
You can't get solar panels for free in Riverdale Park. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact my property value?
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 $273,900, which means you can look forward to a value of about $11,230 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Riverdale Park is a worthwhile investment.
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 the amount of energy they produce 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.