Solar Panel Cost Guide in Waldorf, MD (2023 Update)
- Waldorf Solar Installation Cost: $10,512
- 25-Year Savings: $9,452
- Payback Period: 13.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Waldorf
Find out what the average cost of solar panel installation is in Waldorf.
While the national average of solar panels is $2.66 per watt, solar panels in Waldorf generally cost about 2.77. Using this figure, a typical 5.4-kW system would cost about $10,509 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Waldorf homeowner. 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. Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Waldorf can save around $14,000 on their electricity bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Waldorf
| Year | Return on Investment |
|---|---|
| 1 years | $-10,446 |
| 3 years | $-10,313 |
| 5 years | $-10,180 |
| 7 years | $-10,047 |
| 9 years | $-9,913 |
| 11 years | $-9,780 |
| 13 years | $-9,647 |
| 15 years | $-9,514 |
| 17 years | $-9,381 |
| 19 years | $-9,248 |
| 21 years | $-9,115 |
| 23 years | $-8,982 |
| 25 years | $-8,849 |
Top Solar Installers in Waldorf
When switching to solar energy, many homeowners choose to go with a solar installation company since putting up a solar system yourself can be a time-consuming project. The payback period of solar panels will vary depending on factors like your location and energy needs, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
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 Waldorf
Factors that Affect Solar Panel Costs in Waldorf
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that will push your cost above or below the average in Waldorf: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,770. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Waldorf, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. 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 time, but they can also be a big investment. That's why many Waldorf homeowners choose to finance their solar panel systems to make paying for solar more affordable. You'll have to consider the long-term cost of loans, including the amount of 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can affect your pricing. Waldorf's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and decide on the company that has the products, warranties and services you want and also is within your budget.
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 | $9,994 | 13.7 years |
| 8 kW | $2.83 | $15,822 | $13,636 | 13.4 years |
| 10 kW | $2.77 | $19,390 | $17,433 | 13.2 years |
| 12 kW | $2.71 | $22,803 | $21,385 | 12.9 years |
| 14 kW | $2.66 | $26,060 | $25,492 | 12.6 years |
| 16 kW | $2.60 | $29,163 | $29,754 | 12.4 years |
| 18 kW | $2.55 | $32,110 | $34,172 | 12.1 years |
| 20 kW | $2.49 | $34,902 | $38,744 | 11.8 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:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely provide good-quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar company, make sure you read it through completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Waldorf, MD Solar Cost FAQs
What is the average cost of installing solar panels in Waldorf?
The average cost of solar panels in Waldorf is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Waldorf?
A solar panel system isn't free in Waldorf, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Waldorf is currently $307,580, so you can look forward to a value of about $12,611 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Waldorf is a fruitful investment.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using 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.