Solar Panel Cost Guide in Forestville, MD (2024 Update)
- Forestville Solar Installation Cost: $13,517
- 25-Year Savings: $12,317
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in Forestville
Here’s how much it might cost to install solar panels in Forestville.
While the national average of solar panels is $2.66 per watt, solar panels in Forestville generally cost about 4.The average Forestville 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 actual price you pay can be above or below the average in Forestville based on a few factors, such as the type of solar panels you choose and the solar contractor you hire.But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $16,000 over 20 years on electricity bills.
To receive a free estimate from a highly rated solar installation company in Forestville, you can click the button below.
Solar savings over time in Forestville
| Year | Return on Investment |
|---|---|
| 1 years | $-11,811 |
| 3 years | $-8,399 |
| 5 years | $-4,987 |
| 7 years | $-1,575 |
| 9 years | $1,837 |
| 11 years | $5,250 |
| 13 years | $8,662 |
| 15 years | $12,074 |
| 17 years | $15,486 |
| 19 years | $18,898 |
| 21 years | $22,310 |
| 23 years | $25,722 |
| 25 years | $29,135 |
Top Solar Installers in Forestville
Putting up solar panels on your own can be a difficult project, which is why using a solar installer is a good option for many homeowners. Some solar companies, especially local ones, can help you take advantage of incentives in Forestville, optimizing your ROI.
Working with a professional solar company can make going solar easier. Here are our recommendations:
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 Forestville
Factors that Affect Solar Panel Costs in Forestville
There are a number of factors that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,540. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your energy bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Forestville average.
Solar Financing Terms
Many homeowners find the average cost of solar in Forestville to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest.Although solar loans make going solar more accessible for Forestville homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you choose will impact your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and find a company that provides the products, warranties and services you’re looking for and also fit into your budget.
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 | $9,719 | 15.4 years |
| 8 kW | $3.61 | $20,220 | $13,355 | 15.1 years |
| 10 kW | $3.54 | $24,780 | $17,189 | 14.8 years |
| 12 kW | $3.47 | $29,141 | $21,222 | 14.5 years |
| 14 kW | $3.40 | $33,304 | $25,453 | 14.2 years |
| 16 kW | $3.33 | $37,269 | $29,882 | 13.9 years |
| 18 kW | $3.26 | $41,036 | $34,509 | 13.6 years |
| 20 kW | $3.19 | $44,604 | $39,335 | 13.3 years |
How to Save on Solar Panels
There are numerous companies available in Forestville, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Contract: Before signing a contract with a solar company, make sure you look it over carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
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 Forestville, MD Solar Cost FAQs
How much does it cost to install solar panels in Forestville?
The average cost of solar panels in Forestville is about $17,700 for a 5-kW system and $35,400 for a 10-kW system before the ITC, but the real 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 use.
Should I lease or buy solar panels in Forestville?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How will having solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Forestville is currently $346,985, so you could be looking at a value of about $14,226 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Forestville is a fruitful investment.
How many solar panels should I get to power 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 generally produce about 250 to 400 watt-hours per hour, the average household 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.