Solar Panel Cost Guide in Cambridge, MD (2024 Update)
- Cambridge Solar Installation Cost: $13,317
- 25-Year Savings: $14,862
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in Cambridge
Find out how much it might cost to make the switch to solar in Cambridge.
The average cost of a solar system in Cambridge is 4 per watt.The average solar panel system size in Cambridge is around 5.4 kilowatts, meaning a cost of about $13,317 for a solar installation, or $19,043 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy consumption, the type of solar system you want, your solar contractor and more.Even with the significant initial cost, the average Cambridge homeowner can save about $18,000 on their power bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a top solar installer in Cambridge that can help you get a more accurate cost estimate for your home.
Solar savings over time in Cambridge
| Year | Return on Investment |
|---|---|
| 1 years | $-11,604 |
| 3 years | $-8,178 |
| 5 years | $-4,752 |
| 7 years | $-1,326 |
| 9 years | $2,100 |
| 11 years | $5,525 |
| 13 years | $8,951 |
| 15 years | $12,377 |
| 17 years | $15,803 |
| 19 years | $19,229 |
| 21 years | $22,655 |
| 23 years | $26,081 |
| 25 years | $29,507 |
Top Solar Installers in Cambridge
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make swapping over to solar power much easier. Some solar installers, especially local ones, can help you better understand incentives in Cambridge, thereby optimizing your ROI.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some in Cambridge:
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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Cambridge
Factors that Affect Solar Panel Costs in Cambridge
For many Cambridge homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Cambridge, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and type of equipment you get 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 have a higher price tag 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 additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Cambridge to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest.When considering your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Cambridge is the company you get to install your PV system. Similar to choosing a company to install new cabinets, for instance, you’ll have no shortage of solar installers that provide a range of services at different price points.The size of the company can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $12,764 | 13.7 years |
| 8 kW | $3.61 | $20,220 | $17,415 | 13.4 years |
| 10 kW | $3.54 | $24,780 | $22,264 | 13.2 years |
| 12 kW | $3.47 | $29,141 | $27,311 | 12.9 years |
| 14 kW | $3.40 | $33,304 | $32,557 | 12.6 years |
| 16 kW | $3.33 | $37,269 | $38,001 | 12.4 years |
| 18 kW | $3.26 | $41,036 | $43,643 | 12.1 years |
| 20 kW | $3.19 | $44,604 | $49,484 | 11.9 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: When reading over your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar company. Make sure you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Cambridge, MD Solar Cost FAQs
How much does it cost to install solar panels in Cambridge?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $17,700 for a 5-kW system and $35,400 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my home value?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs 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.