Solar Panel Cost Guide in Waldorf, MD (Mar 2023)
- Waldorf Solar Installation Cost: $10,509
- 25-Year Savings: $9,455
- Payback Period: 13.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Waldorf
Find out what the average cost of solar panels are in Waldorf.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Waldorf, the typical cost of a solar system is 2.77 per watt. Because a 5.4-kW system is needed to cover the energy usage of a typical home in Waldorf, the average price of going solar will be about $10,509 after claiming the federal solar tax credit of 30%.
Keep 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 look 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.
You can click the button below to get connected with a vetted solar company in Waldorf that can help you get a more accurate cost estimate for your home.
Solar savings over time in Waldorf
| Year | Return on Investment |
|---|---|
| 1 years | $-9,711 |
| 3 years | $-8,114 |
| 5 years | $-6,517 |
| 7 years | $-4,919 |
| 9 years | $-3,322 |
| 11 years | $-1,725 |
| 13 years | $-128 |
| 15 years | $1,469 |
| 17 years | $3,066 |
| 19 years | $4,663 |
| 21 years | $6,260 |
| 23 years | $7,857 |
| 25 years | $9,455 |
Top Solar Installers in Waldorf
Although it's possible to install solar panels on your own, it requires extra labor and knowledge. For that reason, almost all homeowners choose a solar panel installer. Another benefit of working with a solar installer is that they can help you maximize your return of investment by cutting back on future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
If you'd like to make the switch to solar but still aren't sure which solar installer to go with, here are our recommendations for providers in Waldorf:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
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 want to invest in solar. There are a few primary factors that affect your total cost in Waldorf: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need 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 $2,770. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Waldorf have solar loans, which reduce your upfront costs of installing solar panels. However, the interest on solar loans also adds to your overall costs, so it's crucial to consider that as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The last major cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Waldorf, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. You may notice 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 specials 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 | $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 solar company you choose will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:
- Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Even though reading through a contract can be tedious, 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.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Waldorf, MD Solar Cost FAQs
How much does it cost to install solar panels in Waldorf?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Waldorf?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
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.