Solar Panel Cost Guide in Silver Spring, PA (2023 Update)
- Silver Spring Solar Installation Cost: $11,892
- 25-Year Savings: $13,880
- Payback Period: 11.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Silver Spring
Find out what the average cost of a solar system is in Silver Spring.
In Silver Spring, solar panels cost about 2.55 per watt on average. Since a 6.7-kW system is needed to cover the energy needs of a typical home in Silver Spring, the average price of going solar will be about $11,888 after claiming the federal solar tax credit of 30%.
The true cost of your system can be higher or lower than the average in Silver Spring depending on a few factors, such as the model of solar panels you choose and the solar contractor you hire. For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Silver Spring see about $15,000 in savings on energy bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Silver Spring
| Year | Return on Investment |
|---|---|
| 1 years | $-10,598 |
| 3 years | $-8,010 |
| 5 years | $-5,421 |
| 7 years | $-2,832 |
| 9 years | $-244 |
| 11 years | $2,345 |
| 13 years | $4,933 |
| 15 years | $7,522 |
| 17 years | $10,110 |
| 19 years | $12,699 |
| 21 years | $15,288 |
| 23 years | $17,876 |
| 25 years | $20,465 |
Top Solar Installers in Silver Spring
Although you can install solar panels yourself, it requires extra labor and knowledge. That's one of the reasons most people choose to hire a solar panel installer. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be best for your family.
If you're searching for a solar company in Silver Spring, the EcoWatch team has compiled a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Silver Spring
Factors that Affect Solar Panel Costs in Silver Spring
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Silver Spring: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay about $2,550 per kilowatt in Silver Spring. The brand and type of equipment you choose for your solar system can raise or lower 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 a small roof 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. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Silver Spring to be too steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Silver Spring is the company you get to install your solar system. As with choosing a company to build a deck or pool, for example, there are plenty of solar installers that offer a range of services at different costs. The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.65 | $11,138 | $12,071 | 12.0 years |
| 8 kW | $2.60 | $14,566 | $16,380 | 11.8 years |
| 10 kW | $2.55 | $17,850 | $20,833 | 11.5 years |
| 12 kW | $2.50 | $20,992 | $25,427 | 11.3 years |
| 14 kW | $2.45 | $23,990 | $30,165 | 11.1 years |
| 16 kW | $2.40 | $26,846 | $35,046 | 10.8 years |
| 18 kW | $2.35 | $29,560 | $40,069 | 10.6 years |
| 20 kW | $2.29 | $32,130 | $45,235 | 10.4 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose significantly influences your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one indication of a quality company.
- Reputation: Companies that have been operating for many years likely have a solid 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.
- Contract: Before signing a contract with a solar installer, be sure to read it through fully 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 if there are any guarantees about energy production.
- Solar Panel Brands: The model of solar panel you'd like to install plays a role in which company you should choose, since different companies have different panels.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Silver Spring, PA Solar Cost FAQs
How much does it cost to install solar panels in Silver Spring?
The average cost of solar panels in Silver Spring is about $12,750 for a 5-kW system and $25,500 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Silver Spring?
The majority of states offer net metering programs of some kind. Through these, you can either be compensated 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 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.