Solar Panel Cost Guide in Cloverly, MD (2024 Update)
- Cloverly Solar Installation Cost: $13,851
- 25-Year Savings: $10,733
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Cloverly
We break down average solar pricing in Cloverly.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cloverly, the average cost of solar panels is 4 per watt.The average solar panel system size in Cloverly is around 5.6 kilowatts, meaning a cost of about $13,851 for a solar installation, or $19,807 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy consumption, the type of equipment you want, your solar contractor and more.For many homeowners, the upfront investment in solar is worth paying. On average homeowners in Cloverly see about $15,000 in savings on utility bills over 20 years.
To receive a free estimate from a highly rated solar company in Cloverly, you can click the button below.
Solar savings over time in Cloverly
| Year | Return on Investment |
|---|---|
| 1 years | $-12,378 |
| 3 years | $-9,433 |
| 5 years | $-6,488 |
| 7 years | $-3,542 |
| 9 years | $-597 |
| 11 years | $2,349 |
| 13 years | $5,294 |
| 15 years | $8,240 |
| 17 years | $11,185 |
| 19 years | $14,130 |
| 21 years | $17,076 |
| 23 years | $20,021 |
| 25 years | $22,967 |
Top Solar Installers in Cloverly
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Taking advantage of a solar panel installer can make swapping over to solar power much easier. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you’d like to switch to solar energy but still aren’t certain which solar panel company to go with, here are our suggestions for providers near you:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Cloverly
Factors that Affect Solar Panel Costs in Cloverly
The cost of installing a solar system in Cloverly can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. In addition, add-on products, like solar batteries, can bring your total well above the Cloverly average.
Solar Financing Terms
Most solar installers in Cloverly offer solar loans, which reduce the initial cost of installing a solar system.When considering 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 reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can influence your pricing. Cloverly’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $3.68 | $15,463 | $7,692 | 16.7 years |
| 8 kW | $3.61 | $20,220 | $10,652 | 16.4 years |
| 10 kW | $3.54 | $24,780 | $13,811 | 16.1 years |
| 12 kW | $3.47 | $29,141 | $17,167 | 15.7 years |
| 14 kW | $3.40 | $33,304 | $20,723 | 15.4 years |
| 16 kW | $3.33 | $37,269 | $24,476 | 15.1 years |
| 18 kW | $3.26 | $41,036 | $28,427 | 14.8 years |
| 20 kW | $3.19 | $44,604 | $32,577 | 14.4 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 find the right company for you, here are some tips to keep in mind:
- Contract: It’s important to read through your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Cloverly, MD Solar Cost FAQs
How much does it cost to install solar panels in Cloverly?
This is a difficult question to answer precisely, because the cost depends on many 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 other solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider aside from cost when buying solar panels?
The upfront 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 be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $771.81 per year.
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 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 house 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.