Solar Panel Cost Guide in Silver Spring, MD (2024 Update)
- Silver Spring Solar Installation Cost: $13,851
- 25-Year Savings: $12,432
- Payback Period: 14.9 Years
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Average Cost of Solar Panels in Silver Spring
See how much it might cost to install solar panels in Silver Spring.
The national average cost of solar panels is $2.66 per watt, but in Silver Spring it’s 4 per watt.Using this figure, a typical 5.6-kW system would cost about $13,851 before the 0 federal solar tax credit is applied.
The true cost of your system can be above or below the average in Silver Spring based on several factors, such as the model of solar panels you choose and the solar contractor you hire.Many homeowners find installing a solar system is a fruitful investment. The average homeowner in Silver Spring can save about $17,000 on their energy bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Silver Spring
| Year | Return on Investment |
|---|---|
| 1 years | $-12,179 |
| 3 years | $-8,836 |
| 5 years | $-5,492 |
| 7 years | $-2,149 |
| 9 years | $1,195 |
| 11 years | $4,538 |
| 13 years | $7,882 |
| 15 years | $11,225 |
| 17 years | $14,569 |
| 19 years | $17,912 |
| 21 years | $21,256 |
| 23 years | $24,599 |
| 25 years | $27,943 |
Top Solar Installers in Silver Spring
When going solar, many homeowners prefer to hire a solar installation company since installing solar panels yourself can be a time-consuming project. Solar warranties and repairs are typically included in the cost of installation when you sign a contract with a solar company too, which can save you more money after your initial investment.
If you’d like to start using solar energy but still aren’t sure which solar system company to go with, here are our suggestions for providers near you:
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 Silver Spring
Factors that Affect Solar Panel Costs in Silver Spring
There are many criteria that can influence your solar system 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
When it comes to estimating the price of a solar energy system in Silver Spring, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by around $3,540 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Silver Spring, 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
Many homeowners find the average cost of solar in Silver Spring to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can influence your pricing. Silver Spring’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better 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 lower 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 | $9,516 | 15.5 years |
| 8 kW | $3.61 | $20,220 | $13,084 | 15.2 years |
| 10 kW | $3.54 | $24,780 | $16,851 | 14.9 years |
| 12 kW | $3.47 | $29,141 | $20,816 | 14.6 years |
| 14 kW | $3.40 | $33,304 | $24,979 | 14.3 years |
| 16 kW | $3.33 | $37,269 | $29,340 | 14.0 years |
| 18 kW | $3.26 | $41,036 | $33,900 | 13.7 years |
| 20 kW | $3.19 | $44,604 | $38,657 | 13.4 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the completion timeline.
- Solar Panel Brands: The brand of solar panel you need to get plays a part in which company you should opt for, since different companies offer different panels.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Silver Spring, MD Solar Cost FAQs
What is the average cost of installing solar panels in Silver Spring?
The average cost of solar panels in Silver Spring 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 model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Silver Spring?
Solar panels aren’t free in Silver Spring, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
To figure out how many solar panels 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.