Solar Panel Cost Guide in Cheverly, MD (2024 Update)
- Cheverly Solar Installation Cost: $13,517
- 25-Year Savings: $11,650
- Payback Period: 15.2 Years
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Average Cost of Solar Panels in Cheverly
Let’s have a look at the average cost of solar in Cheverly.
The average cost of a solar system in Cheverly is 4 per watt.The average Cheverly homeowner needs a 5.5-kilowatt system, which would cost about $13,517 with the federal tax credit, or $19,329 before the 0 tax credit is applied.
The true cost of your system can be above or below the average in Cheverly based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire.For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Cheverly see about $15,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Cheverly for a quote for your home.
Solar savings over time in Cheverly
| Year | Return on Investment |
|---|---|
| 1 years | $-11,957 |
| 3 years | $-8,836 |
| 5 years | $-5,716 |
| 7 years | $-2,596 |
| 9 years | $525 |
| 11 years | $3,645 |
| 13 years | $6,766 |
| 15 years | $9,886 |
| 17 years | $13,007 |
| 19 years | $16,127 |
| 21 years | $19,247 |
| 23 years | $22,368 |
| 25 years | $25,488 |
Top Solar Installers in Cheverly
Many homeowners opt for a solar installer since trying to install solar panels by yourself can be challenging. Also, if you’d like to maximize your investment in solar power, going with a solar installer can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives, rebates and net metering programs.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in Cheverly:
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 Cheverly
Factors that Affect Solar Panel Costs in Cheverly
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that determine your overall cost in Cheverly: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,540. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Cheverly, 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Cheverly offer solar loans, which reduce the initial cost of installing a solar system.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only 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 significantly.
Solar Panel Installation Company
The solar installation company you select will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Cheverly have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $8,986 | 15.8 years |
| 8 kW | $3.61 | $20,220 | $12,377 | 15.5 years |
| 10 kW | $3.54 | $24,780 | $15,967 | 15.2 years |
| 12 kW | $3.47 | $29,141 | $19,756 | 14.9 years |
| 14 kW | $3.40 | $33,304 | $23,742 | 14.6 years |
| 16 kW | $3.33 | $37,269 | $27,927 | 14.3 years |
| 18 kW | $3.26 | $41,036 | $32,310 | 14.0 years |
| 20 kW | $3.19 | $44,604 | $36,891 | 13.7 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 take into account, such as:
- Contract: Read the contract terms closely to make sure you understand the total cost, completion timeline incentives and warranties.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Solar Panel Brands: The model of solar panel you’d like to get plays a part in which installer you should opt for, since different companies provide different panels.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
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 Cheverly, MD Solar Cost FAQs
What is the average cost of installing solar panels in Cheverly?
The average cost of solar panels in Cheverly is about $17,700 for a 5-kW system and $35,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Cheverly?
A solar panel system isn’t free in Cheverly, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can solar panels eliminate my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Cheverly, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.