Solar Panel Cost Guide in Temple Hills, MD (2024 Update)
- Temple Hills Solar Installation Cost: $13,517
- 25-Year Savings: $12,317
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in Temple Hills
Let’s take a look at the average cost of solar panels in Temple Hills.
The average cost of a solar panel system in Temple Hills is 4 per watt.Because a 5.5-kW system is needed to cover the energy usage of a typical home in Temple Hills, the average price of going solar will be about $13,517 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average energy use of Temple Hills homeowners. The price 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.But, after you've paid the initial cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $16,000 over 20 years on energy bills.
You can click the button below to get connected with a top solar installer in Temple Hills that can help you get a more accurate cost estimate for your home.
Solar savings over time in Temple Hills
| Year | Return on Investment |
|---|---|
| 1 years | $-11,811 |
| 3 years | $-8,399 |
| 5 years | $-4,987 |
| 7 years | $-1,575 |
| 9 years | $1,837 |
| 11 years | $5,250 |
| 13 years | $8,662 |
| 15 years | $12,074 |
| 17 years | $15,486 |
| 19 years | $18,898 |
| 21 years | $22,310 |
| 23 years | $25,722 |
| 25 years | $29,135 |
Top Solar Installers in Temple Hills
Although it's possible to install solar panels on your own, it involves extra time and expertise. Because of that, almost all homeowners choose to go with a solar panel installer. In addition, if you’d like to maximize your investment in solar energy, opting for a solar company can help with that as well. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
If you’d like to switch to solar energy but still aren’t sure which solar system company to go with, here are our suggestions for providers in Temple Hills:
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 Temple Hills
Factors that Affect Solar Panel Costs in Temple Hills
The cost of installing a solar system in Temple Hills can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,540.The brand of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Temple Hills offer solar loans, which reduce the initial cost of installing solar.You’ll have to consider the long-term cost of financing options, including the amount of 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 more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Temple Hills is the company you get to install your solar system. As with choosing a company to renovate your kitchen, for example, you’ll have no shortage of solar installers that provide a range of services at different price points.Additionally, some companies in Temple Hills know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, 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 | $9,719 | 15.4 years |
| 8 kW | $3.61 | $20,220 | $13,355 | 15.1 years |
| 10 kW | $3.54 | $24,780 | $17,189 | 14.8 years |
| 12 kW | $3.47 | $29,141 | $21,222 | 14.5 years |
| 14 kW | $3.40 | $33,304 | $25,453 | 14.2 years |
| 16 kW | $3.33 | $37,269 | $29,882 | 13.9 years |
| 18 kW | $3.26 | $41,036 | $34,509 | 13.6 years |
| 20 kW | $3.19 | $44,604 | $39,335 | 13.3 years |
How to Save on Solar Panels
The solar panel company you go with will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:
- Contract: Before signing a contract with a solar installer, make sure to look it over fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
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 Temple Hills, MD Solar Cost FAQs
How much does it cost to install solar panels in Temple Hills?
The average cost of solar panels in Temple Hills 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 kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is making the switch to solar worth it?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Temple Hills?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.