Solar Panel Cost Guide in Savage, MD (Jan 2023)
- Savage Solar Installation Cost: $10,820
- 25-Year Savings: $10,074
- Payback Period: 13.0 Years
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Top Solar Installers in Savage
Many homeowners choose to hire a solar installation company since trying to install solar panels yourself can be a labor-intensive endeavor. Plus, if you aren't sure what type of solar panels and equipment you want, a solar installer can help you figure that out after a site survey and consultation.
If you're looking for a solar company in Savage, the EcoWatch team has organized a list of our top suggestions here:
See all of the solar companies in Savage
Factors that Affect Solar Panel Costs in Savage
The cost of installing a solar system in Savage can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
When it comes to estimating the cost of solar panels in Savage, 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 figure out by looking at past energy bills. Your overall cost can increase by about $2,770 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you pick also changes the cost. Typically, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Savage offer solar loans, which reduce the initial cost of installing solar panels. 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're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
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 Savage is the company you hire to install your PV system. Similar to choosing a company to install new cabinets, for instance, there's no shortage of solar installers that provide a range of services for different budgets. The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more 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 down 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||$10,352||13.5 years|
|8 kW||$2.83||$15,822||$14,113||13.2 years|
|10 kW||$2.77||$19,390||$18,029||13.0 years|
|12 kW||$2.71||$22,803||$22,100||12.7 years|
|14 kW||$2.66||$26,060||$26,326||12.4 years|
|16 kW||$2.60||$29,163||$30,707||12.2 years|
|18 kW||$2.55||$32,110||$35,244||11.9 years|
|20 kW||$2.49||$34,902||$39,935||11.7 years|
How to Save on Solar Panels
The solar installer you go with will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, such as:
- Solar Panel Brands: The model of solar panel you want to get plays a role in which company you should go with, since different companies have access to different panels.
- Contract: Though reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated 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 past customers.
EcoWatch's Savage, MD Solar Cost FAQs
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.