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 solar panels is 4 per watt.Using this figure, a typical 5.6-kW system would cost about $13,851 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Takoma Park homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the large initial cost, the average Takoma Park homeowner can save around $17,000 on their power bills over 20 years, which is one of the perks of solar.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
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
When switching to solar energy, many homeowners decide to go with a solar installation company since installing solar panels yourself can be a time-consuming project. Also, companies with a high reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
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 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 chiefly based on your home’s energy usage, which you can gauge by looking at past energy bills. Your total cost can increase by around $3,540 for each additional kilowatt you need.The model of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Takoma Park to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies operating in Takoma Park, and each can charge different amounts for labor and equipment.Additionally, some companies in Takoma Park know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Installation Process: When making the switch to solar energy, it’s essential to keep an open line of communication with your solar installer. See to it that you understand how the installation process works and the project timeline.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
- Solar Panel Brands: The model of solar panel you need plays a part in which installer you should opt for, since different companies have access to different panels.
- Warranty: If you’re concerned about the endurance of your solar energy system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
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 Takoma Park, MD Solar Cost FAQs
How much does it cost to install 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 type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Takoma Park?
Solar panels aren’t free in Takoma Park, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can you sell solar power back to the grid in Takoma Park?
The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Takoma 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.