Solar Panel Cost Guide in Takoma Park, MD (2024 Update)
- Takoma Park Solar Installation Cost: $13,851
- 25-Year Savings: $12,725
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Takoma Park
Let’s take a look at the average cost of solar panels in Takoma Park.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Takoma Park, the average cost of a solar system is 4 per watt.The average solar panel system size in Takoma Park is around 5.6 kilowatts, meaning a cost of about $13,851 for a solar installation, or $19,807 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of going solar can vary based on multiple factors, such as how many panels you need, your energy usage and what company you go with.But, once you've paid the initial cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $17,000 over 20 years on power bills.
You can click the button below to get connected with a top solar installer in Takoma Park for a quote for your home.
Solar savings over time in Takoma Park
| Year | Return on Investment |
|---|---|
| 1 years | $-12,145 |
| 3 years | $-8,733 |
| 5 years | $-5,321 |
| 7 years | $-1,909 |
| 9 years | $1,503 |
| 11 years | $4,916 |
| 13 years | $8,328 |
| 15 years | $11,740 |
| 17 years | $15,152 |
| 19 years | $18,564 |
| 21 years | $21,976 |
| 23 years | $25,388 |
| 25 years | $28,801 |
Top Solar Installers in Takoma Park
Many homeowners decide to use a solar panel installer since installing solar panels by yourself can be challenging. Plus, if you aren’t sure what kind of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Takoma Park
Factors that Affect Solar Panel Costs in Takoma Park
There are many factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the price of a solar system in Takoma Park, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can determine by looking at past energy bills. Your total cost can increase by around $3,540 for each additional kilowatt you need.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a 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 more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Takoma Park have solar loans, which reduce your upfront costs of installing a solar system.Even though solar loans make switching to solar energy more accessible for Takoma Park homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can play a role in determining how much you pay. Takoma Park’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $9,830 | 15.3 years |
| 8 kW | $3.61 | $20,220 | $13,503 | 15.0 years |
| 10 kW | $3.54 | $24,780 | $17,375 | 14.7 years |
| 12 kW | $3.47 | $29,141 | $21,445 | 14.4 years |
| 14 kW | $3.40 | $33,304 | $25,712 | 14.1 years |
| 16 kW | $3.33 | $37,269 | $30,179 | 13.8 years |
| 18 kW | $3.26 | $41,036 | $34,843 | 13.5 years |
| 20 kW | $3.19 | $44,604 | $39,706 | 13.2 years |
How to Save on Solar Panels
The solar company you go with will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, such as:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can look into your installer’s reputation is by reading reviews.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Takoma Park, MD Solar Cost FAQs
What is the average cost of installing solar panels in Takoma Park?
The average cost of solar panels in Takoma Park is about $17,700 for a 5-kW system and $35,400 for a 10-kW system before the ITC, but the real cost will depend on stuff 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 Takoma Park?
You can’t get solar panels for free in Takoma Park. However, you may still be able to afford 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.
Does Takoma Park have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
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 level 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.