Solar Panel Cost Guide in Riverside, MD (2024 Update)
- Riverside Solar Installation Cost: $13,833
- 25-Year Savings: $10,647
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Riverside
Find out what the average cost of installing solar panels is in Riverside.
In Riverside, solar panels cost about 4 per watt on average.Using this figure, a typical 5.6-kW system would cost about $13,833 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of going solar can vary based on a few factors, such as how many panels you need, your energy consumption and what company you go with.Even with the large initial cost, the average Riverside homeowner can save around $15,000 on their energy bills over 20 years, which is one of the advantages of solar.
To receive a free quote from a top solar installer in Riverside, you can click the button below.
Solar savings over time in Riverside
| Year | Return on Investment |
|---|---|
| 1 years | $-12,419 |
| 3 years | $-9,590 |
| 5 years | $-6,761 |
| 7 years | $-3,933 |
| 9 years | $-1,104 |
| 11 years | $1,725 |
| 13 years | $4,554 |
| 15 years | $7,382 |
| 17 years | $10,211 |
| 19 years | $13,040 |
| 21 years | $15,869 |
| 23 years | $18,697 |
| 25 years | $21,526 |
Top Solar Installers in Riverside
Installing solar panels on your own can be a challenging project, which is why hiring a solar installer is a good option for many homeowners. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
There are various 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 Riverside
Factors that Affect Solar Panel Costs in Riverside
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Riverside: 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
When it comes to estimating the cost of a solar energy system in Riverside, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by about $3,540 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Riverside, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Riverside homeowners opt to finance their solar panel systems to make paying for solar more affordable.You’ll have to consider the long-term cost of financing options, including the total 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can play a role in determining the cost. Riverside’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $7,614 | 16.8 years |
| 8 kW | $3.61 | $20,220 | $10,549 | 16.4 years |
| 10 kW | $3.54 | $24,780 | $13,682 | 16.1 years |
| 12 kW | $3.47 | $29,141 | $17,013 | 15.8 years |
| 14 kW | $3.40 | $33,304 | $20,542 | 15.5 years |
| 16 kW | $3.33 | $37,269 | $24,270 | 15.1 years |
| 18 kW | $3.26 | $41,036 | $28,196 | 14.8 years |
| 20 kW | $3.19 | $44,604 | $32,320 | 14.5 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases provide good-quality solar panel installation and expertise.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Riverside, MD Solar Cost FAQs
How much does it cost to install solar panels in Riverside?
The average cost of solar panels in Riverside is about $17,700 for a 5-kW system and $35,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Riverside?
Leasing solar panels can be an appealing choice, as it often 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How long do solar panels last in Riverside?
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 replace them once you've had 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.