Solar Panel Cost Guide in Silver Spring, PA (2024 Update)
- Silver Spring Solar Installation Cost: $16,556
- 25-Year Savings: $15,801
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Silver Spring
We go over average solar pricing in Silver Spring.
In Silver Spring, solar panels cost about 4 per watt on average.The average solar panel system size in Silver Spring is around 6.7 kilowatts, meaning a cost of about $16,556 for a solar installation, or $23,675 before the 0 federal solar tax credit is applied.
How much you pay can be above or below the average in Silver Spring depending on several factors, such as the model of solar panels you choose and the solar company you hire.Many homeowners find going solar is a solid investment. The average homeowner in Silver Spring can save around $15,000 on their power bills over 20 years.
To receive a free estimate from a highly rated solar installer in Silver Spring, you can click the button below.
Solar savings over time in Silver Spring
| Year | Return on Investment |
|---|---|
| 1 years | $-15,262 |
| 3 years | $-12,673 |
| 5 years | $-10,085 |
| 7 years | $-7,496 |
| 9 years | $-4,908 |
| 11 years | $-2,319 |
| 13 years | $270 |
| 15 years | $2,858 |
| 17 years | $5,447 |
| 19 years | $8,035 |
| 21 years | $10,624 |
| 23 years | $13,212 |
| 25 years | $15,801 |
Top Solar Installers in Silver Spring
Trying to put up solar panels by yourself can be a stressful undertaking, which is why using a solar installation company is a good option for many homeowners. Plus, if you’re not certain what kind of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Silver Spring:
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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Silver Spring
Factors that Affect Solar Panel Costs in Silver Spring
The cost of installing a solar system in Silver Spring can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,550.The type of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment consists of more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Silver Spring 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 total 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 more than the original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final factor to consider 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, you’ll have many options for solar installers that offer a range of services at different costs.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.69 | $15,506 | $7,703 | 16.7 years |
| 8 kW | $3.62 | $20,278 | $10,668 | 16.4 years |
| 10 kW | $3.55 | $24,850 | $13,833 | 16.1 years |
| 12 kW | $3.48 | $29,224 | $17,195 | 15.7 years |
| 14 kW | $3.41 | $33,398 | $20,757 | 15.4 years |
| 16 kW | $3.34 | $37,374 | $24,518 | 15.1 years |
| 18 kW | $3.27 | $41,152 | $28,477 | 14.8 years |
| 20 kW | $3.19 | $44,730 | $32,635 | 14.5 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- 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 make sure you ask for their list of options before making your decision.
- Contract: Look through the contract terms carefully to make sure you understand the overall cost, project timeline incentives and warranties.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Silver Spring, PA Solar Cost FAQs
What is the average cost of installing solar panels in Silver Spring?
The average cost of solar panels in Silver Spring is about $17,750 for a 5-kW system and $35,500 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Silver Spring?
You can’t get solar panels for free in Silver Spring. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Silver Spring?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.