Solar Panel Cost Guide in Montgomery Village, MD (2024 Update)
- Montgomery Village Solar Installation Cost: $13,851
- 25-Year Savings: $11,463
- Payback Period: 15.5 Years
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Average Cost of Solar Panels in Montgomery Village
We break down average solar pricing in Montgomery Village.
The national average cost of solar panels is $2.66 per watt, but in Montgomery Village it’s 4 per watt.Since a 5.6-kW system is needed to cover the energy usage of a typical home in Montgomery Village, the average price of going solar will be about $13,851 after claiming the federal solar tax credit of 0.
The actual price you pay can go higher or lower than the average in Montgomery Village based on several factors, such as the brand of solar panels you choose and the solar company you hire.For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $16,000 in savings on electricity bills over 20 years.
To receive a free quote from a highly rated solar installer in Montgomery Village, you can click the button below.
Solar savings over time in Montgomery Village
| Year | Return on Investment |
|---|---|
| 1 years | $-12,296 |
| 3 years | $-9,186 |
| 5 years | $-6,077 |
| 7 years | $-2,967 |
| 9 years | $143 |
| 11 years | $3,253 |
| 13 years | $6,363 |
| 15 years | $9,472 |
| 17 years | $12,582 |
| 19 years | $15,692 |
| 21 years | $18,802 |
| 23 years | $21,912 |
| 25 years | $25,021 |
Top Solar Installers in Montgomery Village
Putting up solar panels on your own can be a dangerous task, which is why hiring a solar installer is a good option for many homeowners. Another upside of using a solar company is that they can help you optimize your return of investment by cutting back on future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Montgomery Village
Factors that Affect Solar Panel Costs in Montgomery Village
There are a number of criteria that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. 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 energy needs.The brand and kind of equipment you get for your solar system can raise or lower 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. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable option because they decrease your upfront costs and allow you to pay for your system over five to seven years on average.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 more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you select will play a role in your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor.Larger national companies usually 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 | $3.68 | $15,463 | $8,476 | 16.1 years |
| 8 kW | $3.61 | $20,220 | $11,697 | 15.8 years |
| 10 kW | $3.54 | $24,780 | $15,117 | 15.5 years |
| 12 kW | $3.47 | $29,141 | $18,735 | 15.2 years |
| 14 kW | $3.40 | $33,304 | $22,552 | 14.9 years |
| 16 kW | $3.33 | $37,269 | $26,566 | 14.6 years |
| 18 kW | $3.26 | $41,036 | $30,779 | 14.3 years |
| 20 kW | $3.19 | $44,604 | $35,190 | 14.0 years |
How to Save on Solar Panels
The solar installer you choose will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- Installation Process: Make sure you’re aligned with the company regarding 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.
- Warranty: If you’re concerned about the durability of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Montgomery Village, MD Solar Cost FAQs
How much does it cost to install solar panels in Montgomery Village?
The average cost of solar panels in Montgomery Village 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 things such as the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Montgomery Village?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future energy bills.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
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.